Consumer confidence and its role in the adoption of electronic banking in Morocco

Abstract

This article examines the factors influencing the adoption of electronic banking services in Morocco, with a particular focus on the role of consumer trust. Despite significant technological advancements and efforts to modernize the financial sector, Morocco's adoption rate of electronic banking services remains low compared to global standards. This article consists of a traditional review of the literature, analyzing how perceived usefulness, ease of use, and perceived risks shape consumer trust and, consequently, adoption decisions. The findings reveal that consumer trust is a critical determinant of electronic banking adoption. Cultural factors unique to Morocco, such as high-power distance and uncertainty avoidance, significantly affect consumers’ readiness to embrace these services. Additionally, infrastructural limitations, including limited internet penetration in rural areas, and regulatory challenges pose substantial barriers. The study underscores the importance of implementing robust security measures and engaging in transparent communication to mitigate perceived risks and enhance consumer confidence. It suggests that a holistic approach addressing technological, cultural, infrastructural, and regulatory factors is vital for fostering an environment conducive to the widespread adoption of electronic banking in Morocco. The discussion highlights the necessity of tailoring strategies to align with the cultural and socio-economic context of Moroccan consumers. Future research is recommended to develop specific interventions that build trust and facilitate broader acceptance of electronic banking services in the Moroccan market.

Key words: Electronic Banking; Consumer Trust; Adoption Barriers; Cultural Factors; Financial Technology in Morocco.

JEL classifications : G21, D12, O33, Z10, G23

Paper type : Theoretical Research