Determinants of Vietnamese Customers’ Intention to Adopt Open Banking Services: An Empirical Study Integrating TAM and Initial Trust

Abstract

This paper reports the results of an empirical study testing a model that integrates the Technology Acceptance Model (TAM) and the Initial Trust (INT) to examine the determinants of Vietnamese customers’ intention to adopt Open Banking services. A validated research model and detailed survey instrument were developed, and data were collected from 228 customers through a direct survey approach. The dataset was analyzed using SmartPLS software with a bootstrapping method to ensure robust statistical results. The results indicate that perceived usefulness is the strongest predictor of customers’ adoption intention, exceeding the effects of both attitude and initial trust. Perceived ease of use and trust remain important supportive factors. The findings suggest that practitioners should prioritize enhancing perceived usefulness, supported by user-friendly technology and trust-building strategies, while policymakers should establish strong governance frameworks to foster initial trust and long-term confidence in Open Banking. This study addresses a gap in the literature by integrating TAM and INT to investigate Open Banking adoption in a developing economy context.