Factors Affecting Financial Institutions to Adopt Mobile Peer-to-Peer Platforms

This cross-sectional study empirically evaluated a model designed to predict the varied elements influencing the behavioral intents of financial institutions towards the use of mobile peer-to-peer platforms. Combining behavioral and instrument elements from frameworks based on the Net Valence Theory and the Theory of Reasoned Action, this study examined behavioral intention from the standpoint of financial institutions. An online survey of 88 organizations yielded data that was analyzed using PLS-SEM for hypothesis testing. The findings revealed that (1) instrument mobile perceived trust is a good mediator of heterogeneous factors, including economic ones, (2) the perceived risk has no effect when a mobile perceived trust significantly influences the intention, (3) the mobile perceived usefulness plays no role in the new mobile context, and (4) the combination of behavioral (extrinsic) and instrument (intrinsic) factors is vital and significant in mobile financial business models. In addition, the results suggest that practitioners concentrate on perceived mobile trust, perceived convenience, perceived economics, and perceived mobile ease of use as the primary drivers of mobile peer-to-peer platform adoption. These elements considerably increase the rate of mobile peer-to-peer platform adoption. Therefore, FinTech and mobile technology regulators are recommended to establish a regulatory framework that helps financial institutions regard mobile as trustworthy.