Factors affecting the customers' intention to use green banking products in peoples bank

Introduction

This chapter provides the overall summaries of the research findings, conclusion & recommendations. The research objective of the study is to examine the green brand dimensions impact on purchase intention of customers about green banking products & services.

Summary

The research was target to identify the impact to the green brand dimensions on purchase intention. Many research works have been done in green banking around the world. However, exploring the existing green banking practices based on primary data and developing a conceptual framework to find the factors affecting for the customers’ intention to use green banking products has not been done so far in Sri Lanka since 2013. Hence, to fulfill this gap researcher has identified six independent variables based on the literature namely green product awareness, green product trust, green product image, green product benefit, green perceived value and green product security & privacy those are affecting for customers’ intention to use green banking products. By using those independent variables, researcher has developed a conceptual framework to find the factors affecting for the customers’ intention to use green banking products in Sri Lanka.

This study is mainly depends on primary data and those data was collected through structured questionnaire from 371 customers in people’s bank. Convenience sampling technique has used to select sample from total population. As well as researcher has used structural equation model and analyses of data was done by using SmartPLS & SPSS software. Moreover, research commended with the graphically representation of the nature of sample, population etc. and also information regarding data presenting variables behavior. By analyzing data, researcher has achieved the objective of the study and identified the relationship between green brand dimensions and purchase intention.

In this way, the research have managed to provide an objective view of the situation, maintain its implied focus and also practical implications which are relevant for other industries. Therefore, it can be finally concluded that this research has satisfactorily achieved intended objectives & recommended the value of green products & the quality enhancements for the increase its purchase intention.

Findings

Objective of the study was to find the factors affecting for the customers’ purchase intention to use green banking products. Therefore many factors of green banking dimensions were used to find the relationship on purchase intention. Research findings were summarized as follows;

When considering the gender distribution, majority of them are female (63%) as well are most of them are in between 21-40 years.

Without 1% from the total sample, others are educated and most of them were studied up to the A/L.

Highest percentage of the government employees and low percentage were housewife.

Moreover, from the total sample 63% of people are engaged with savings as their main banking transaction and majority of them used ATMs, CDMs and Kiosks machines in order to operate their transactions.

When considering the awareness level about these green products, 77% of them have awareness about green banking products as well as out of the total sample 73% of them are “ YES” saving account holders.

Furthermore, when we asked about the satisfaction of these products Majority of them (46%) were highly satisfied with these products because of 24 hours availability, online accessibility and cost & time saving.

Out of the total sample, 32% of them do not use green products due to the low awareness and knowledge.

When we describing the relationship between dependent and independent variables we summarized it as follows;

• There is a significant positive effect of green product awareness on customers’ purchase intention to use green banking products.
• There is a significant negative effect of green product trust on customers’ purchase intention to use green banking products.
• There is a significant negative effect of green product image on customers’ purchase intention to use green banking products.
• There is a significant positive effect of green product benefit on customers’ purchase intention to use green banking products.
• There is a significant positive effect of green perceived value on customers’ purchase intention to use green banking products.
• There is a significant positive effect of green product security & privacy on customers’ purchase intention to use green banking products.

Conclusion

Data presentation and data analysis results were used to make the findings. The conclusion were derived based on the above findings.

The objective of this study were identify the factors affecting for the customers’ purchase intention to use green banking products. All the factors were qualitative and data were analyzed by using factor analysis and structural equation model. Most of the customers were female and have good income level. As well as they have good awareness about green banking and they were doing savings as their main transaction. Majority of them were highly satisfied with green banking.

The results of the study indicate that green product awareness, perceived value, benefit, security & privacy are positively associated with the customers; purchase intention about green banking. However trust, image are associated with purchase intention in negatively.

The study has implications for both bank management and academicians. By adopting an appropriate methodology and ensuring reliability and validity, the study has a sound basis for both theoretical and managerial implications. Empirically, this study explores the existing green banking practices in people’s bank, Sri Lanka. The conceptual framework developed through this study provides an effective tool to measure green banking purchase intention.