AN EMPIRICAL ANALYSIS OF MOBILE BANKING ADOPTION IN VIETNAM

Mobile phones with banking technology are becoming more readily available in Vietnam. Similarly, many financial institutions and mobile phone service providers are teaming up to provide several banking services to customers via the mobile phone. However, the number of people who choose to adopt or use such technologies is still relatively low. Therefore, t here is a need to assess the acceptance of such technologies to establish factors that hinder or promote customer’s intention to use mobile banking. Survey dat a collected from 452 consumers was analyzed to provide evidence. Results from the partial least s quares structural equation modeling (PLS-SEM) using the SmartPLS 3.0 program indicated that perceived easy to use, perceived credibility, usefulness, attitude, perceived behavioral control and subjective norm are significant with respect to the customer’s intention to use mobile banking services. The results of the data analysis contribute to the body of knowledge by demonstrating that the above factors are critical in intention to use mobile banking in a developing country context. The finding of this stud y can also help marketers in the banking sector offer more suitable marketing strategies in their field in order to make higher attractiveness with mobile banking services .


T EC H N O LO G Y A C C E P T A N C E M O D E L
There are several models existing that have TAM model which deals with perceptions as opposed to real usage, suggests that when users are present with new techno logy, two important factors influence their de cision about how and when they will use it (Davis, 1989).These key factors are: (1) Perceived usefulness: It refers to "the degree to which a person believes that using a particular (2) Perceived ease of u se: It mentions "the degree to which a perso n believes that using a particular system would be free from effort".Source: Davis ( 1989).

T H EO R Y O F P L A N N E D B E H A V I O R
The theory of planned behavior (TPB) was developed from the theory of reasoned action (TRA) by Ajzen and Fishbein (1980).
This theory is considered to be pioneering in the field of psychosocial research and is widely applied in scientific research to learn about human behavio r.The main content is shown in the studies of (Ajzen, 1985(Ajzen, , 1991(Ajzen, , 2002)).The relationship be tween intentio n and behavior has been empirically tested in numerous studies in many areas (Sheppard, Hartwick, & Warshaw, 1988).

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and whether the behavior is controlled or restricted (Ajzen, 1991).The TPB model is shown in Figure 2. | 3371 to perform some specified future behavior".
Behavioral intention t o use in this study is defined in a rather similar way as in previo us studies as "the individual's likelihood of using mobile service" (Ajzen & Fishbein, 1980;Forenbacher et al., 2019;Parasuraman et al., 2017;Venkatesh et al., 2003).The prediction of i ntention has interested scientists for a long time.As in many other acceptance papers in the field, this study also assumes that behavioral intention will have a positive effect on system usage in the future.

HYPOTHESES DEVELOPMENT
Based on the literature review, such as Technology Acceptance Model (TAM) and Theory of Planned Behavior (TPB), this research proposes the research model with the seven factors that have an impact o n intention to use mobile banking (Figure 3).
These factors are perceived usefuln ess, perceived ease of use, attitude, subjectiv e norm, perceived credibility, and perceived behavioral control.There are also four control variables (gender, age, income, education), using to analyze the influencing to the dependent variable .

PERCEIVED U S E F U L N E S S
The elements perceived usefulness, perceived ease of use and attitude toward adoptio n of mobile banking were adapted from TAM (Davis, 1989).These elements have also been maintained for studying the adoptio n of mobile banking services where results fairly well co mply with the findings from TAM studies.Perceived usefulness refers to the degree to which an individual believes that the usage of technology will enhance his or her performance (Davis, 1989).Previous research findings have shown the positive influence of perceived usefulness toward the adoptio n and usage o f mobile banking (Akturan, 2012;Mostafa & Eneizan, 2018;Saji & Paul, 2018).Thus, the following hypothesis is proposed: H1: Perceived usefulness positively affects intention to use mobile banking.

PERCEIVED E A S E O F U S E
Perceived ease of use refers to the degree to which o ne believes that using an information system is free from effort (Davis, 1989).
Previous research works have found that perceived ease of use has positively influenced on intention to use of technolo gy (Baabdullah Abdullah, 2019;Davis, 1989;Luarn & Lin, 2005).Individuals will adopt and use mobile banking services if they perceive it as easy to learn and use.Thus, they will affect user's attitude.Some prio r studies

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2018; Yoon & Occeña, 2014) found that perceived ease of use was significant in determining intention to use mobile banking.
Hence, the following hypotheses are proposed: H2: Perceived ease of use posit ively affects intention to use mobile banking. .

SU B J E C T I V E N O R M
This construct was promoted by Fishbein and Ajzen (1975) and was developed by Mathieson (1991).Subjective norm refers to the perceived social pressure to perform a behavior; according to what others say or do is important (Mathieson, 1991).Accordingly , (Table 1).The purpose of this stage was no t only to assure the appropriateness of the used instruments in the context of Vietnam but also to be well prepared for the final measurement, which was subsequ ently used in the main survey.

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The   The reliability of the constructs is determined by indicator reliability and internal consistency reliability.Wong (2013) defined indicator reliability as the square of the loadings for each indicator.The study also recommended that when it is higher than 0.4, the data will satisfy indicator reliability ( Vuong & Giao, 2019).As shown in Table 3, most of indicato r reliability values were higher than 0.4.Thus, indicator reliability was ensured.However, indicator reliability value of P BC1 was 0.215 (lower than 0 .4),this item was deleted.
In addition, internal consistency reliability for all of the latent variabl es was assessed by using Cronbach's Alpha and composite reliability (CR) (Fornell & Bookstein, 1982).
Mitchell and Jolley ( 2010) posited that a score of at least 0.7 is necessary in order to say that a measure is internally consistent.
According to Giao and Vuong (2019) , the composite reliability is more suitable to PL S modeling than Cronbach's Alpha.Thus, researchers can use composite reliability to replace Cronbach's alpha coefficient.As shown in Table 3 below  | 3380 Source: Author's own elaboration.
On the other hand, Fornell and Larcker (1981) stated that the average variance extracted (AVE) scores should be used to assess the convergent validity of the latent variables.
Convergent validity will be confirmed when AVE for each of the co nstructs is higher than 0.5 (Wong, 2013).As shown in Table 3 above, AVE scores were reported for each of the     The result indicated that the higher perceived usefulness, the greater is the possibility that buyers will use mobile banking.Thus, hypothesis 1 was supported.

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Hypothesis 2: the result showed that perceived ease of use had a positive and significant relationship with the intention to use mobile banking, (p -value = 0.000 < 0 .05and beta coefficient = 0.128).This was supported by previous researches of Mostafa and Eneizan (2018), and Saji and Paul ( 2018).
The result indicated that the higher perceived ease of use, the greater is the possibility that buy ers will use mobile banking.Thus, hypothesis 2 was supported.
Furthermore, perceived ease of use made the largest contribution in explaining the dependent variable.This was supported by previous researches of Abadi et al. (2012), andTing et al. (2016).Th e result indicated that the higher Perceived behavioral control, the greater is the possibility that buyers will use mobile banking.Thus, hypothesis 4 was supported.| 3385 Source: Author's own elaboration.

CONTROL V A R I A B L E S
For control variables, as shown in Figure 4 and

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size measures the i nfluence of a specific exogenous latent variable on an endogenous variable when the exogenous variable is eliminated from the model (Giao & Vuong, 2019).Cohen (1988) (Vuong & Giao, 2019) .Thus, it had a larger effect on the model.
In addition, Vuong and Giao (2019)  to TAM, with two factors (perceived usefulness and perceived ease of use).
Interestingly, the pro posed model measures significantly determine behavioral intention.
This model is unique because it investigates consumer acceptance for mobile banking.
The study also leads to several contributio ns.

MANAGERIAL IMPLICATIONS
This study provides meaningful implications that can be benchmarked by many banks in Fifth, the study also found that the "perceived behavioral control" is the fifth influential factor to affect an indiv idual behavioral intention to use mobile banking.
In response to this concern , it is encouraged for the bank management should pay attention to the direct consultancy activities to attract customers to use mobile banking.
Indeed, the author believes people with higher information o n mobile banking will have a positive knowledge and skills o n mobile banking system, thus impact for intention to use mobile banking.
Finally, improving perceived ease of use and perceived usefulness can foster the subjective norm.Furthermore, banks need to make many campaigns to use mobile banking | 3390

3367 INTRODUCTION
Rev i sta El etr ôn ic a Ge st ão & Soc ied ad e v. 14 , n .37, p . 3 36 5 -3 39 3 | Jan e iro /Ab ri l -2020 IS SN 1 9 80 -57 56 | D OI: 1 0. 21 17 1/ g e s. v 1 4 i37.30 7 8 Vu on g, B. N .;Hi eu , V. T. ; Tra n g, N. T. T. | Mobile banking is an innovative service, which has been perpetuated by the development and diffusion of mobile communication technology.Mobile banking is defined as "the financial services delivered via mobile networks and performed on a mobile phone" (Alampay & Moshi, 2018).This service provides much convenience and promptness to the banks' customers alon g with cost savings.Many banks are interested in expanding their market through mobile services.Traditionally, the most widespread method of conducting banking transactions has been through offline retail banking.Mobile banking, however, is the recent trend in banking transition and holds a bright future that is promising over and above the one brought by electronic banking (e -banking).Mobile banking provides personalized, anytime -anywhere banking services thus making it the future of banking.In the last several years, several commercial banks in Vietnam have introduced and diffused some mobile banking systems.Nevertheless, with all the laudable benefits of mobile banking, it is yet to gain larger -scale adoption, especially in the emerging economies .According to the State bank of Vietnam, the development of personal accounts in Vietnam was very high, 30% average growth per year.At 2018, about 59% of Vietnam's population had bank account (66.6 million people).The promotion of mobile banking transaction channel enabled the banks to enhance their operations with cost -cutting effectively and efficiently in order to handle daily banking affairs via mobile and Internet.Customer is convenient by reducing their visits to the banks and they can get their transactions via their mobile instead o f personally v isiting the branches.Although the usage of mobile banking has been strong growth over the last few years, it is still in its infancy.As the report of General Statistics Vietnam, there was estimate at 13 5 millio n mobile subscribers, 64 million Internet users at the end of 2018.This figure is also still very low when compared with develo ped nations in Asia.It means that mobile banking service in Viet Nam is a potential market in future.During the last t en years, there were many studies concerning the intentio n to use mobile banking.Ho wever, most of these studies focused on the West and the United States.In Asian region, most studies concentrated on developed Asian co untries (e.g., Singapore, Hong Kong, Taiwan, and Rev i sta El etr ôn ic a Ge st ão & Soc ied ad e v. 14 , n .37, p . 3 36 5 -3 39 3 | Jan e iro /Ab ri l -2020 IS SN 1 9 80 -57 56 | D OI: 1 0. 21 17 1/ g e s. v 1 4 i37.30 7 8 Vu on g, B. N .;Hi eu , V. T. ; Tra n g, N. T. T. | 3368 Malaysia) than developing countries like Vietnam, Lao, Cambodia.In Vietnam, mobile banking serv ices are still in the initial stages of development.The commercial banks have a great deal for improvement.Thus, there is a need to study and und erstand users' acceptance of mobile banking services in order to identify the factors affecting their intention to use mo bile banking.On the other hand, previo us research for this topic in Vietnam is so limited.So that the topic was chosen to study the f actors affecting the adoptio n of mobile banking services, usefulness for the work and future research.In this study, the authors o nly focus o n researching about the intention to use mobile banking in Viet Nam.The finding of this study can help marketers in the banking sector offer more suitable marketing strategies in their field in order to make higher attractiveness with mobile banking services.of mobile banking, whether or not these studies have been using Technology Acceptance Model and Theory o f Planned Behavior as the framework.
been used to investigate adoptio n of technology.Several studies focusing on adoptio n of mobile services have their roots in Technology Acceptance Model (TAM) originally proposed by Davies in 1986.The model is originally designed to predict user's acceptance of Inform ation Technology and usage in an organizational context.TAM focuses on the attitude explanatio ns of intention to use a specific technology or service; it has beco me a widely applied model for user acceptance and usage.TAM, shown in figure 1 was also the first model that established external variables as key factors in studying technology adoptio n.

Figure 1 :
Figure 1: Technology Acceptance Model Theory of reasoned action (TRA) focuses on understanding the motivational factor of personal behavior co nsisting of two main components: attitude towards behavior (AT) and subjective norms (SN).Although the TRA is widely accepted in literature, the theory is still limited.Inability due to lack o f opportunities or resources such as time, original TRA model, perceived behavioral control (P BC) and this led to the theory of planned behavior (TPB).Perceived behav ioral control reflects the ease or difficulty of performing the behavio r El etr ôn ic a Ge st ão & Soc ied ad e v. 14 , n .37, p . 3 36 5 -3 39 3 | Jan e iro /Ab ri l -2020 IS SN 1 9 80 -57 56 | D OI: 1 0. 21 17 1/ g e s. v 1 4 i37.30 7 8 Vu on g, B. N .;Hi eu , V. T. ; Tra n g, N. T. T.

Figure 3 :
Figure 3: Conceptual model they view as important, such as family, friends, and colleague, to decide if whether they use mobile banking serv ices.Pa rticularly the people who are impo rtant to an indiv idual play an important role in the consideratio ns of whether or not to use a new techno logical system.Some scholars (e.g.,Perdigoto & Picoto, 2012;Ting et al., 2016) found the subjective norm is an im portant driver for mobile chatting usage.Thus, the following hypothesis is proposed: H4: Subjective nor m positively affects intention to use mobile banking.Rev i sta El etr ôn ic a Ge st ão & Soc ied ad e v. 14 , n .37, p . 3 36 5 -3 39 3 | Jan e iro /Ab ri l -2020 IS SN 1 9 80 -57 56 | D OI: 1 0. 21 17 1/ g e s. v 1 4 i37.30 7 8 Vu on g, B. N .;Hi eu , V. T. ; Tra n g, N. T. T.Perceived credibility, is defined as the degree to which an individual believes mobile banking as trustworthy and secure(Yeow et al., 2008).Perceived credibility is an important predictor of behavioral intention to use mobile banking services.An increase in the perceived credibility will subsequently im prove users' mobile banking acceptance(Giao, Vuong, & Quan, 2020) .from a variety of ways that fully depends on which discipline researchers interpret the concern(Amin et al., 2012).Given that perceived credibility has b een empirically supported and used in mobile banking adoption studies (Al Khasawneh, 2015; Saji & Paul, 2018).Accordingly, this study hypothesizes: H5: Perceived credibility positively affects intention to use mobile banking.P E R C EI V E D B EH A V I O R A L C O N T R O L Perceived behavioral control refers to the constraints of technology usage (Taylor & Todd, 1995).It refers to people's perceptions of their ability to perform a given behavior.Drawing an analogy to the expectancy -value model of attitude, it is assumed t hat perceived behavioral control is determined by the total set of accessible control beliefs, i.e., beliefs about the presence of factors that may facilitate or impede the performance of the behavior.Specifically , the strength of each control belief is weighted by the perceived power of the control factor, and the pro ducts are aggregated, as shown in the following equation.To the extent that it is an accurate reflectio n of actual behavioral control, perceived behavioral control can, together with intention, be used to predict behavio r (Abadi, Ranjbarian, & Zade, 2012; Ting et al., 2016).Thus, the following hypothesis is proposed: H6: Perceived behavioral control positively affects intention to use mobile banking.Rev i sta El etr ôn ic a Ge st ão & Soc ied ad e v. 14 , n .37, p . 3 36 5 -3 39 3 | Jan e iro /Ab ri l -IS SN 1 9 80 -57 56 | D OI: 1 0. 21 17 1/ g e s. v 1 4 i37.30 7 Vu on g, B. N .;Hi eu , V. T. ; Tra n g, N. T. T. C E D U R E A N D S A M P L I N G S I Z E This study used two research methods.The first phase, qualitative research identifies the models, factors, suitable measurement variables for research in Vietnam.Through the prev ious relevant researches, the questionnaire was built.These r esearches were conducted in different culture, the level of economic development and selected respondents.Therefo re, a pilot study was conducted thro ugh qualitative research method.The purpose is to gather informatio n and adjust variables in these scales .The wording Vietnamese language fo r these scales is also doing to study.So that, respondents can understand the questio n, to avoid confusion.The second phase, a quantitative survey was the main approach of this study.The goal is to identify the factors affecting customers' intention to use mobile banking services.To conduct qualitativ e research, the quantitative pilot test was conducted.The questionnaires were sent to customers for answering.After two weeks, the form s hav e been returned for the quantitative pilot test Rev i sta El etr ôn ic a Ge st ão & Soc ied ad e v. 14 , n .37, p . 3 36 5 -3 39 3 | Jan e iro /Ab ri l -2020 IS SN 1 9 80 -57 56 | D OI: 1 0. 21 17 1/ g e s. v 1 4 i37.30 7 8 Vu on g, B. N .;Hi eu , V. T. ; Tra n g, N. T. T.
Source: Author's own elaboration After translating and revising the final set of questionnaires, the authors designed the questionnaire on Google Docs and printed a hard copy for convenient responses.The Rev i sta El etr ôn ic a Ge st ão & Soc ied ad e v. 14 , n .37, p . 3 36 5 -3 39 3 | Jan e iro /Ab ri l -2020 IS SN 1 9 80 -57 56 | D OI: 1 0. 21 17 1/ g e s. v 1 4 i37.30 7 8 Vu on g, B. N .;Hi eu , V. T. ; Tra n g, N. T. T. | 3377 questionnaires were distributed to the banking customers who are using individual account, but not signed up for mobile banking services.Specifically, 109 hard copy questionnaires were collected directly from friends and colleagues of the authors and 35 5 questionnaires were collected via Google Docs.After data collection, a total of 464 questionnaires were collected.However, only 452 responses were qualified for the data analysis process.A total of 12 responses were deleted because they chose only one option for all the questions or their answers were implausible.Finally , 452 response s were used for this research.Table2 aboveshows the diverse information about the demographic profile of the respondents.VARIABLE M E A S U R E M E N T SAll variables in the model were measured with multiple items and each item was scored on a five-point L ikert scale examining how strongly respondents agree or disagree with the statement, with 1 = "strongly disagree" and 5 = "strongly agree".This scale wa s developed by prior researchers to adequately capture the domain of the constructs.Specifically, the perceived usefulness scale was measured by five items ofPerdigoto and Picoto (2012).Sample items included (e.g., "Performing transactions anywhere, anytime, via m -banking brings convenience to me").The perceived ease of use scale was measured by five items ofPerdigoto and Picoto (2012).Sample items included (e.g., "It would be easy to find out how to use mbanking").The attitude scale was measured by three items ofAkturan (2012).Sample items included (e.g., "I think that using mobile banking for financial transactions would be a wise idea" ).The subjective norm scale was measured by four items of Sripalawat, Thongm ak, and Ngramyarn (2011).Sample it ems included (e.g., "Mobile banking use could be considered as a symbo l of status among m y group").Perceived credibility was adapted from four items ofSaji and Paul (2018) andYoon and Occeña (2014).Sample items included (e.g., "Mobile banking ensures s ecure bank transactions").The Perceived behav ior control scale was measured by four item s ofShen et al. (2010).Sample items included (e.g., " I would be able to operate mobile banking").The Intention to adopt mobile banking scale was measured by four items ofAkturan (2012).Sample items included (e.g., " I plan to use mobile banking in the future").PARTIAL LEAST SQUARES REGRESSIONThis research employed partial least squarestructural equation m odeling (PLS -SEM) via Rev i sta El etr ôn ic a Ge st ão & Soc ied ad e v. 14 , n .37, p . 3 36 5 -3 39 3 | Jan e iro /Ab ri l -2020 IS SN 1 9 80 -57 56 | D OI: 1 0. 21 17 1/ g e s. v 1 4 i37.30 7 8 Vu on g, B. N .;Hi eu , V. T. ; Tra n g, N. T. T. | 3378 the SmartPLS pro gram to test a model hypothesis.Giao and Vuong (2019) stated that PLS is an approach which can co ntribute much utility for causal analysis in behavioral research.In addition, PLS is also a powerful multivariate technique which scrutinizes complex research problems that inclu de unobserved variables and multifaceted interaction of different variables.PLS has the capability to calculate p -values thro ugh a bootstrapping technique if samples areindependent and if the data is not required to be normally distributed(Kline, behavior control = 0 .860and Intention to adopt mobile banking = 0.909.Therefore, it demonstrated good internal consistency Rev i sta El etr ôn ic a Ge st ão & Soc ied ad e v. 14 , n .37, p . 3 36 5 -3 39 3 | Jan e iro /Ab ri l -2020 IS SN 1 9 80 -57 56 | D OI: 1 0. 21 17 1/ g e s. v 1 4 i37.30 7 8 Vu on g, B. N .;Hi eu , V. T. ; Tra n g, N. T. T.| 3379reliability.Also,Vuong and Giao (201 9)    stated that the rho_A coefficient is the important reliability measu re for the partial least squares.Vuong and Sid (2020) recommended that the value of this coefficient should be higher than 0.7 .As shown in Table3, the values of rho_A coefficients range fro m 0.742 to 0.875.Based on this evidence, the author can confirm that the reliability of the scales is sufficient.
Rev i sta El etr ôn ic a Ge st ão & Soc ied ad e v. 14 , n .37, p . 3 36 5 -3 39 3 | Jan e iro /Ab ri l -2020 IS SN 1 9 80 -57 56 | D OI: 1 0. 21 17 1/ g e s. v 1 4 i37.30 7 8 Vu on g, B. N .;Hi eu , V. T. ; Tra n g, N. T. T. | 3382 meet.Taken together, the evidence indicates the scales had adequate quality for usage in the next stage of analysis.ASSESSMENT O F ST R U C T U R A L M O D E L Collinearity assessment is the first s tep in the structural model analysis.The procedure is necessary to ensure that the path coefficients, which are estimated by regressing endogeno us variables on the attached exogenous variables, are not biased.According to Giao and Vuo ng (2019) , collinearity issues exist between the respective exogenous variable and the endogenous variable.If the variance inflation factor (VIF) value is greater than 5 or lesser than 0.2, there are collinearity issues with the latent variables.As shown in Table5, allVIFs were below the threshold of 5; the maximum value of VIF was 3.194 (less than 5 ) and the minimum value was 1.087 (more than 0.2) indicating that the latent variables did not have multicollinearity.
Rev i sta El etr ôn ic a Ge st ão & Soc ied ad e v. 14 , n .37, p . 3 36 5 -3 39 3 | Jan e iro /Ab ri l -2020 IS SN 1 9 80 -57 56 | D OI: 1 0. 21 17 1/ g e s. v 1 4 i37.30 7 8 Vu on g, B. N .;Hi eu , V. T. ; Tra n g, N. T. T. | 3383 Based o n what was fo und in the PLS access, the results of all hypotheses and model connection were shown.Hypothesis 1: the result showed that perceived usefulness had a positive and significant relationship with the intention to use mobile banking, (p -value = 0.000 < 0 .05and beta coefficient = 0.409).This was supported by previous researches of Mostafa and Eneizan (2018), and Saji and Paul (2018).

Hypothesis 3 :
the result showed that Attitude had a positive and significant relationship with intention to use mobile banking, (pvalue = 0.032 < 0.05 and beta coefficient = 0.073).This was supported by previous researches ofAkturan (2012), andMuñoz - Leiva et al. (2017).The result indicated that the higher attitude, the greater is the possibility that buy ers will use mobile banking.Thus, hypothesis 3 was supported.Hypothesis 4: the result showed that Subjective norm had a positive and significant relationship with the intention to use mobile banking, (p -value = 0.089 < 0.1 and beta coefficient = 0.067).This was supported by previous researches of Perdigoto and Picoto (2012), and Ting et al. (2016).The result indicated that the hi gher subjective norm, the greater is the possibility that buyers will use mobile banking.Thus, hypothesis 4 was supported.Hence, banking customers tend to choose and use mobile banking services by the introduction of relatives and friends.Hypothesis 5: the result showed that Perceived credibility had a positive and significant relationship with the intention to use mobile banking, (p -value = 0.000 < 0 .05and beta coefficient = 0.314).This was supported by previo us researches of Al Khasawneh (2015), and Saji and Paul (2018).The result indicated that the higher Perceived credibility, the greater is the possibility that buyers will use mobile banking.Thus, hypothesis 5 was supported.Hypothesis 6: the result showed that Perceived behavioral control had a positive and significant relationship with the intention to use mobile banking, (p -value = 0.006 < 0.05 and beta coefficient = 0.069).
a PLS model should be assessed by redundancy, communality, and goodness of fit.This research employed the effect size index, and communality to evaluate the model fit for the structure model.The effect Rev i sta El etr ôn ic a Ge st ão & Soc ied ad e v. 14 , n .37, p . 3 36 5 -3 39 3 | Jan e iro /Ab ri l -2020 IS SN 1 9 80 -57 56 | D OI: 1 0. 21 17 1/ g e s. v 1 4 i37.30 7 8 Vu on g, B. N .;Hi eu , V. T. ; Tra n g, N. T. T.
employed communality to assess overall validation of the PLS model.They also stated that communality is equivalent to the AVE in the PLS model and should have an average of 0 .5 (Fornell & Larcker, 1 981) for good -fit.As shown in Table 3, the structural model indicated an AVE of at least 0.5 for all of the constructs.Therefore, the glo bal structural model of this study proved t he model-data fit.From all of the evidence above, this study proved that the PL S model is validated globally with a very good effect for the goodness of model -data fit.CONCLUSION Mobile banking was evolved from mobile technologies.Although mobile bankin g is available and ready to use by individuals, there is a tendency that mobile banking unnoticed by customers or is under -used.Thus, there is a need to explore the level of acceptance among banking customers.Additionally, this study is a pioneering effo rt in applying Technolo gy Acceptance Model (TAM) and Theory Planned Behavior (TPB) to the newly emerging context of mobile banking, which has become available in Vietnam.The findings of this study strongly support the suitability of using TAM and TPB model to understand the factors affecting intention to use mobile banking.The aim of this study was to develop a modified version of TAM and TBP that canRev i sta El etr ôn ic a Ge st ão & Soc ied ad e v. 14 , n .37, p . 3 36 5 -3 39 3 | Jan e iro /Ab ri l -2020 IS SN 1 9 80 -57 56 | D OI: 1 0. 21 17 1/ g e s. v 1 4 i37.30 7 8 Vu on g, B. N .;Hi eu , V. T. ; Tra n g, N. T. T. | 3387 explain the banking customers' behavioral intention to use mobile banking.The study added attitude, subj ective norm, perceived credibility and perceived behavioral control of us e" was the most influential factor behavioral intention to use mobile banking.Enhancing the way to use mobile banking, make it easier to use.Banks can invest in the design interface of mobile banking, make it become more friendly.The apps sho uld auto -translate into many languages that suit with many foreign customers.Besides, the bank should also organize training courses for mobile banking for free, and surely available at the bank branches anywhere.Second, the results showed that "perceived credibility" was the second most important factor.Banks in Vietnam sho uld construct their information system that fosters credibility-building mechanisms.Furthermore, in efforts to calm the inherent security concerns, effective trust -building strategies carried o ut by the banks should embrace guarantees to customers to counter any fraudulent transaction.It is strongly Rev i sta El etr ôn ic a Ge st ão & Soc ied ad e v. 14 , n .37, p . 3 36 5 -3 39 3 | Jan e iro /Ab ri l -2020 IS SN 1 9 80 -57 56 | D OI: 1 0. 21 17 1/ g e s. v 1 4 i37.30 7 8 Vu on g, B. N .;Hi eu , V. T. ; Tra n g, N. T. T. | 3388 believed that the bank's customers are very likely to be more willing to absorb the perceived risk if they are confident that their bank always sta nds behind the service.Simple statements and graphic and a concise and well-presented privacy policy clearly indicating that transactions are guaranteed might reduce risk concerns significantly.By increasing trust, the banks in Vietnam will be able to transform a potential customer fro m a curio us observer to one who is willing to conduct mobile banking transactions.Such an understanding of customers' trust will provide the bank managers with a toolkit of manageable, strategic levers in attempts to nurture the customer trust which is strongly believed to elevate higher acceptance of mobile banking.Third, the results showed that " perceived usefulness" factor was ranked No. 3 .Increasing the utilities of mobile banking to enhance its usefulness, the bank ca n invest more suitable in high technology software.This solution makes customers rely on the convenience of using mobile banking for example: increase the maximum amount of money for each transaction, reduce online transaction fee, connect to many payment channels, reduce the time for solute each transaction, etc. Fourth, the results showed that "attitude" factor was ranked No. 4. To impro ve customer's attitude toward using mobile banking.Banks should design their apps as effective delivery channels and o ffer informatio n beyond banking services.The informatio n should include references to "time-saving", "convenience" at anywhere anytime, "low costs", and "information availability".Moreover, regular surveying of customers' responses and opinions of the services should be conducted to ensure continuous im provement.
Rev i sta El etr ôn ic a Ge st ão & Soc ied ad e v. 14 , n .37, p . 3 36 5 -3 39 3 | Jan e iro /Ab ri l -2020 IS SN 1 9 80 -57 56 | D OI: 1 0. 21 17 1/ g e s. v 1 4 i37.30 7 8 Vu on g, B. N .;Hi eu , V. T. ; Tra n g, N. T. T. | 3389 at supermarket, festiv al, fair... or advertising on the internet, television, social network (Facebook, Twitter, Zalo, Sky pe...).Besides, it is enco uraged for the bank management should pay attention to the direct consultancy activities to attract customers to mobile banking.LIMITATIONS In this study, there are some limitations.The most outstanding one is the representative of the sample.The sample is selected conveniently, so it is not representative of the po pulation.To m ake the sample more representative, future research should increase the sample size and use a probability sampling technique -sim ple random sampling, hence this future research would be more generalizable.The second limitatio n is a relation to the additional independent variables.So that, depending on the banking enviro nment, further research considers adding different constructs such as perceived self -efficacy , and transactio n cost.Rev i sta El etr ôn ic a Ge st ão & Soc ied ad e v. 14 , n .37, p . 3 36 5 -3 39 3 | Jan e iro /Ab ri l -2020 IS SN 1 9 80 -57 56 | D OI: 1 0. 21 17 1/ g e s. v 1 4 i37.30 7 8 Vu on g, B. N .;Hi eu , V. T. ; Tra n g, N. T. T.

Table 1 :
Results of the quantitative pilot study analysis of 50 respondents Source: Author's own elaboration.
reliability of the data was verified by corrected item -total correlatio n sho uld be more than 0.3.As sho wn in the table above (Table1), the results of each co nstruct's reliability test with the value of Cro nbach's

Table 3 :
Reliability and convergent validity

Table 6 :
Final results of the relationship checking of model's constructs