Exploring the relationship between cognitive, affective, behavioral responses to Augmented Reality among customers in banking sector

Abstract

This study explores the advantage of Augmented Reality (AR) based applications in banking industry. Augmented Reality (AR) offers banks an opportunity to present financial products and services through interactive, informative, immersive, and realistic digital experiences. Customers reactions to the AR based applications are taken into consideration. A quantitative research design was adopted to examine the proposed relationships. Data were collected from 402 customers of public and private banks using a structured questionnaire and analyzed using Partial Least Squares Structural Equation Modelling (PLS-SEM) using SmartPLS 3.0. Bootstrapping was employed to assess the significance of direct, and indirect relationships among the constructs. The findings showed that the Media usefulness and Choice confidence act as mediators between Product informativeness and Reality congruence leading to customers intention to purchase the banking products. The customers need information on the products and need to be confident enough while making financial decisions.