Factors influencing behavior intention in digital investment services of mutual fund distributors adoption in Thailand

Abstract

Mutual Fund is a financial product of Asset Management Companies (AMC). Some distributors provide differentiated services in the form of brokerages. Presently, the concept of distribution is changed from agents to digital services. From traditional financial services, the distributors generally perform standard solutions that are familiar to people. Technology redefines financial services for individual investors. Technology acceptance from individual investors is important to study behavioral intentions when mutual fund investment widely steps available channels up to application and website. The objectives of this study are the factors of digital service and the factors relating behavioral intention to the use of digital investment services from mutual fund distributors in Thailand. Developing the conceptual research model uses the extended Technology Acceptance Model (TAM2) together with variables from previous research in investment behavior and fintech adoption. A total of 76 respondents was Thai investor who knows mutual fund. Data analysis and path model estimation were proposed using PLS-SEM (Partial Least Squares-Structural Equation Modeling). The results showed that perceived usefulness directly serves users producing intention to use a digitalized system for mutual fund investment services. A user’s perceived usefulness received the significant impact of convenience, trust, and subjective norms, respectively. The support from the regulator or government complements users’ trust in the digital investment services of mutual fund distributors. IMPLICATION OF THEMATIC PAPER: This study explains the important complement of digital investment services that Thai individual investors are looking for. Furthermore, these findings can introduce mutual fund distributors and financial platform owners to understand user behavior. Initially, they can apply it in a strategy of marketing, platform development, or services planning for their digital investment services.