Adoption of Internet Banking Service within the Corporate Sector: Evidence from Newly Acceded EU Country
This paper explores the level of adoption of the Internet banking service in the corporate sector of Croatia as newly acceded EU country, with the goal of finding out the reasons behind the usage of service or refusal to use. Furthermore, we seek an answer regarding the frequency of usage of certain Internet banking functionalities among those companies which implemented the Internet banking. Finally, we hypothesise that companies’ characteristics explain disparities in acceptance of Internet banking service. A questionnaire research encompassed up to 80 companies. Research results reveal that the most of companies (around 75%) adopted the Internet banking service, but mainly to perform transactional services (e.g. paying bills, checking bank account balances and transferring funds). Profitability of the company, an industry in which it operates and computer literacy of its employees are confirmed as the main drivers of Internet banking service adoption. Furthermore, there is a relationship between using online banking in private and professional life. Altogether, the obtained results might be interesting for the Croatian banks in their attempts to operate as the full-service institutions via cross-selling strategy and possible new entrants to Croatian banking market.