The most common method of conducting banking services today among younger adults and the
active population is mobile banking (m-banking), because of its accessibility anytime and
anywhere and because it is easy to use. Despite the advantages of m-banking, the increase in
use among older adults is not the same compared to other age groups. Inclusion of older adults
in the fast-developing digital economy is important for reducing digital inequality and ensuring
social inclusion. The purpose of this work was to investigate which factors influence the use of
m-banking among older adults. The study measures the influence of universal factors from the
Unified Theory of Acceptance and Use of Technology (UTAUT), augmented with two
contextual factors: perceived security, and perceived risk on actual m-banking use. Data were
collected via questionnaires and analyzed using the PLS-SEM method. Results showed that
perceived usefulness and effort expectancy had a statistically significant effect on actual use of
m-banking. Other factors did not show a significant impact. These findings contribute to a better
understanding of behavioral patterns of older adults and highlight the need for a more concrete
and in-depth research approach when studying this age group.
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