Innovation Diffusion Theory: Evidence from Wearable Devices in Banking

Mobile banking has followed the appearance of high tech mobile devices. However, rates of payments made through mobile banking apps are still much lower than through other channels. This paper observes the evidence of using mobile banking by users of Wearable Devices. We will do it with the help of Rogers Innovation Diffusion Theory. The paper finds 6 criteria’s of Innovation Diffusion Theory and during the study we will try to find on the one hand banking users attitude to MB app through WD use, on the other – did banking producers react on customers attitudes and what are their opinion on MB app through WD. The lack of generalizability may be driven by the chosen focus groups. In addition, the distinction between the dependent variable “intention to use” and real usage might also be considered as a limitation of the study. However, these results can be used by financial institutions that develop a strategy for improving mobile banking services.