Information Science Assessment of Digital Transformation Factors and User Adoption Trends in Public and Private Sector Banks

Abstract

In this paper, the evaluation of the most significant features that provide a digital transformation and pattern of user adoption by banks in the public and the private sector based on their technological infrastructure, regulatory forces, organizational culture, and user security concerns will be done. The research paper assumes a mixed method approach, involving both quantitative (surveys) and qualitative outcomes (interviews) to explain the challenges and drivers to the adoption of digital. The sample will consist of 350 respondents comprising of 210 employees of the banks that belong to the public sector and 140 employees of the banks that belong to the private sector. Among the respondents will be the bank employees (IT managers, branch managers) and the end-users (customers).  Objective 1 will use regression analysis to identify the most important factors that influenced the user adoption (coefficient = 0.35, p-value = 0.000) and the concern of user security. The strongest impact was on user security concerns (coefficient 0.40, p=0.000), then technological infrastructure (0.35, p=0.000), and regulatory constraints (0.20, p=0.028) had a lesser but significant effect. Results of the Objective 2 analysis that has been achieved with the assistance of an ANOVA analysis indicate that the rates of adoption in the case of the private sector banks are higher due to the perceived ease of use, trust and Security (F-statistic = 4.52, p-value = 0.034), among the banks in the industry of the public sector. The analysis of the factors in the Objective 3, indicates that there are three crucial factors influencing the digital adoption: Digital Infrastructure Readiness, Organizational and Cultural Support and User Trust and Security, and the factors need to be improved and a positive climate of digital adoption should be established.