VIRTUAL BANKS AND THE PERCEIVED RISK AND DEVELOPMENT AND EFFORT EXPECTANCY ON BEHAVIORAL INTENTION

Objective: This article aims to understand the consumers' adoption to virtual banks and analyze the perceived risk on the intentional behavior. Methodology: The methodology consists in two parts: the first being quantitative and exploratory; and the second being quantitative and descriptive, substantiated by development of hypothesis and statistical analysis Structural Equation Modelling (SEM). Originality/Relevance: Banking consumers' behavior influences financial institutions and involves adoption of innovative services. The article brings the influence of performance and effort expectancies, risk and how these aspects influence Fintech's innovation adoption. Results: The explanatory phase revealed that the lack of interest to migrate to a virtual account is connected to the lack of adequate communication. In the descriptive phase, it was possible to affirm that the Performance Expectancy and Effort Expectancy influences the Behavioral Intention, but consumers' concern is financial loss and data theft. Theorical/Methodological Contributions: the variation of the UTUAT model allowed the understanding of adopting technology for a new type of banking service, as well as using MEE to evaluate the relation between the dependent and independent variables from UTUAT model. Social/Management Contributions: this research shows the importance of market communication for Start-ups because only a public-focused communication will create expectancy, both performance and effort, as well as reduce perceived risk.