What factors hinder or encourage the adoption of Internet banking among Australian consumers? This study quantifies the factors affecting Internet banking adoption, surveying individual residents and business firms in Australia. Understanding these factors is critical for banks seeking to increase adoption rates and reduce operating costs. The research shows that security concerns and lack of awareness about Internet banking and its benefits are significant obstacles to adoption. It suggests strategies to address these impediments, emphasizing that Internet banking should be part of an overall customer service and distribution strategy. By addressing these barriers, banks can facilitate a rapid migration of customers to Internet banking, leading to substantial savings in operating costs and improved customer service using *information technology* in the modern *economy*.
Published in the International Journal of Bank Marketing, this paper directly addresses the journal's focus on marketing strategies within the banking industry. By examining the factors that influence consumer adoption of Internet banking, the research provides valuable insights for banks seeking to improve their marketing efforts and enhance customer engagement with digital financial services.