Do customers really matter in open banking model? User behavior and adoption determinants
DOI:
https://doi.org/10.23918/ejmss.V6i2p31Keywords:
user behaviour, Emerging market, , open banking, , sub-Saharan Africa, Banking, AdoptionAbstract
Although closed banking business model is an age-long practice, open banking has emerged as a novel financial business model to facilitate improved value delivery to customers in today’s society, but it is not yet a common practice in most emerging economies. This paper analyzes the acceptance of open banking from the African perspective. In this study, we modified the concept of privacy paradox in developing a procedure to understand acceptance of open banking to suit local appeal. Data was collected in Nigeria, the biggest emerging market in sub-Saharan Africa. Structural equation modeling was used to test the hypothesized relationships, and the results offer supports to accessibility, trust and security being instrumental in open banking acceptance. The result provides insights that highlight alternatives for regulators and policy drives in sub-Saharan Africa while also opening up conversation on open banking in emerging economies and among economies in sub-Saharan African region.
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Copyright (c) 2026 Dr. Oloveze O. Ambrose, Dr. Oteh U. Ogbonnaya, Dr. Aniuga, Dr. Victoria, Dr. Oyims, Maureen Anyalor
Eurasian Journal of Management & Social Sciences (EJMSS)
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