Paper ID
1585
Paper Type
short
Description
Robo-advisors enable customers to conduct automated digital investments, which could substantially transform the financial industry. However, robo-advisory use is lagging behind expectations. One reason could be potential customers’ insufficient trust. Therefore, we investigate determinants that influence trust and the intention to use robo-advisors. More specifically, we build on trust to assess use intention and explore person-al characteristics (perceived risk), organizational characteristics (trust in banks) and in-dustry characteristics (structural assurances) as antecedents to trust. The survey data are analyzed by employing a PLS-SEM (n = 246). Preliminary results show that initial trust in robo-advisors is closely related to the inten-tion to use robo-advisors. Trust is negatively linked to perceived risk but positively linked to structural assurances. Trust in banks is positively related to initial trust, how-ever, only when structural assurances are not included. In a follow-up survey, behavior and potential barriers to robo-advisory adoption will be investigated.
Recommended Citation
Bruckes, Maike; Westmattelmann, Daniel; Oldeweme, Andreas; and Schewe, Gerhard, "Determinants and Barriers of Adopting Robo-Advisory Services" (2019). ICIS 2019 Proceedings. 2.
https://aisel.aisnet.org/icis2019/blockchain_fintech/blockchain_fintech/2
Determinants and Barriers of Adopting Robo-Advisory Services
Robo-advisors enable customers to conduct automated digital investments, which could substantially transform the financial industry. However, robo-advisory use is lagging behind expectations. One reason could be potential customers’ insufficient trust. Therefore, we investigate determinants that influence trust and the intention to use robo-advisors. More specifically, we build on trust to assess use intention and explore person-al characteristics (perceived risk), organizational characteristics (trust in banks) and in-dustry characteristics (structural assurances) as antecedents to trust. The survey data are analyzed by employing a PLS-SEM (n = 246). Preliminary results show that initial trust in robo-advisors is closely related to the inten-tion to use robo-advisors. Trust is negatively linked to perceived risk but positively linked to structural assurances. Trust in banks is positively related to initial trust, how-ever, only when structural assurances are not included. In a follow-up survey, behavior and potential barriers to robo-advisory adoption will be investigated.