Mature Australian consumers' adoption and consumption of self-service banking technologies

Abstract

The slow diffusion of self-service banking technologies (SSBTs) into the mature consumer market necessitates research to understand better this growing section of the population and the diversity that exists within this market. This research analyses the 50+ market through a segmentation approach based on the level of use of SSBTs. Three segments were identified: non-users, low users and medium-to-high users of SSBTs; these are profiled by frequency of use and demographic variables. The medium-to-high user segment embraces a range of SSBTs and uses credit cards to facilitate their financial activities. Non-users and some low users prefer the customary way of conducting transactions and enjoy the personal interaction with the bank employee. These two segments do, however, have a moderate level of credit card use. Finally, a small percentage of diffusion discontinuance was identified in this study of the mature consumer market.