Critical analysis of the Technology Acceptance Model

Critical analysis of the Technology Acceptance Model

Introduction:

As bankers we mostly depend on technology to accomplish our goals and objectives efficiently and effectively. While carrying out the duties, though we expected a user friendly technology to complete the task, we have a doubt whether it is always correct…..? Give below is the evidence for critical analysis of TAM model from my own experience.

Background:

I am attached to the Treasury Division - Cash Management Function of a specialized savings bank. Since we do not have current account facility, we depend on other commercial banks for external fund transfers. Earlier those fund transfers have been done manually and later on obtained the internet banking facility for convenience and effectiveness.

1.      External Variables

Branch network (255 branches) request funds from Cash Management Unit for their day-to-day operational requirements. If there is any excess collection at branches, they use to send back to the Cash Management Unit for evening Reverse Repo investment. Cash Management plays the main role of transferring funds and collect if any excess available in the branches via online banking facility. After balancing cash in-and-out flows of the main control accounts, Cash Management Unit invest the excess cash available in the main control accounts before 3.00 p.m., while considering the cutoff time given by the Central Bank to commercial banks. This process is a routine work and no ending at all. Therefore, Cash Management Unit need an uninterrupted efficient online facility to complete their tasks on time.

2.      Perceived Usefulness

Internet banking facility is very useful for the Cash Management Unit, since they can transfer funds to the branches very quickly and update the accounts while looking at same. It is helpful to update the accounts and balance the main control accounts in the evening for investment calculations without any hazel. From the branch perspective, online banking facility is very helpful for them to update their current accounts quickly and transfer excess available in the accounts without instructing the commercial banks. By using online banking facility we can save the most valuable resource of time and protect the environment since no paper work involves for same. It reduces the stationery cost, telecommunication cost (faxing letters), HR cost (not necessary to recruit a typist for letter typing like manual fund transfers)etc., 

  

3.      Perceived Ease of Use

It is very easy to use the internet banking facility of the commercial banks, since the clarity of instructions and few commands needed for transactions. If any error occurs it can be easily corrected via online without informing the commercial banks. 

4.      Behavioural Intention

Since this online facility is very useful and easy to use, Cash Management Unit expects a convenient stress free working environment for their day today work since it is a routine and boring job which has no ending. This online facility can manage the time very effectively and complete the task of fund flows very efficiently.

5.      Usage Behaviour

The Cash Management Unit expects to utilize their resources effectively and efficiently with the internet banking facility. But due to the system failures or any other errors of commercial banks’ internet banking facility, Cash Management Unit has been failed to accomplish their goals and objectives by using the technology. Sometimes it takes more than hours to complete a single transaction. Sometimes funds have been transferred to wrong account, due to the disturbances of system. Due to those technical errors, it is very hard and stressful job for the employees who engage in the fund transfer process of Cash Management Unit, since they have to comply with the cutoff times of commercial banks and Central Bank. The hardest part of this job is transferring funds to the branches, as and when they require funds within the business operation hours.

Conclusion:

However the technology is very useful if we perceive the services, as we expected. But the question is how far we can rely on technology and what will be the next development to remove same? Since we are living in a highly volatile and dynamic environment, any new concept/product can remove the technology straight away.