Toward a Comprehensive Model of Digital-Only Bank Adoption: Integrating UTAUT2 with the Push-Pull-Mooring Perspective
Terrylina Arvinta Monoarfa (a*), Ayatulloh Michael Musyaffi (b)

Universitas Negeri Jakarta

Abstract

The rapid rise of digital-only banks has transformed the financial services landscape, yet consumer adoption remains uneven across markets. This study develops a comprehensive framework by integrating the Unified Theory of Acceptance and Use of Technology 2 (UTAUT2) with the Push-Pull-Mooring (PPM) perspective to examine the enablers and barriers influencing adoption intentions. The structural model incorporates five exogenous variables-economic value, perceived benefit, personal innovativeness, perceived security, and social influence-together with three moderating variables, namely personal innovativeness, age, and prior experience, and one endogenous construct, intention to adopt digital-only banking services. Data were collected from users of digital-only bank applications in Jakarta, Indonesia-one of the world^s fastest-growing digital economies-and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The findings indicate that economic value, perceived benefit, personal innovativeness, perceived security, and social influence significantly increase consumers^ adoption intention. Furthermore, personal innovativeness positively moderates the influence of enabler factors, while age and prior experience moderate the effects of personal innovativeness. By situating the analysis in the Indonesian context-where digital-only banks such as Jago, Blu by BCA, and Bank Neo Commerce, are rapidly expanding-the study extends UTAUT2 into a migration-based framework and provides novel insights into consumer decision-making in emerging markets. Practically, the results offer guidance for financial institutions and policymakers to reduce perceived risks, enhance consumer trust, and strengthen adoption strategies for digital-only banking services.

Keywords: Push-Pull-Mooring Framework- UTAUT-2- Digital-only Bank Applications- Personal Innovativeness.

Topic: Information Engineering