UX in Platform Use Behavior based on Perceived Ease of Use and

Perceived Usefulness in Mutual Fund Investment Behavioral Intention

Dina Fitria Murad

, Nora Fitriawati

, Imanuel Revelino Murmanto

, Dwi Rahmania Noviani

and

Sudido

Information Systems Department, BINUS Online Learning, Bina Nusantara University, Jakarta, Indonesia

Keywords:

perceived ease of use, perceived usefulness, user experience (UX), user interface (UI), technology acceptance

model (TAM)

Abstract:

Moduit is present as one of the mutual fund investment platforms, which also animates the online investment

platform. However, the number of customers who make transactions in Moduit is only 4236% of customers

who have completed their registration, and this indicates a mistake in the system’s acceptance of the user. This

study aims to determine the factors that inﬂuence the approval of the Moduit platform. This study developed an

expanded model based on the technology acceptance model (TAM). This model was tested by an online survey

sample using SPSS. To achieve this study’s goal, we propose UI models and designs on Moduit. The results

show that the user’s intention to use Moduit is inﬂuenced primarily by perceived ease of use and perceived

usefulness. Perceived ease of use also affects indirectly through perceived usefulness to behavioral intentions.

1 INTRODUCTION

Fintech is a commercial industry composed of com-

panies that use new technology to provide more ef-

ﬁcient ﬁnancial services. Financial technology inte-

grates various types of ﬁnancial services into the day

to day lives of customers (Moon and Kim, 2016)(Fer-

nando et al., 2018). Millennials, as well as the gener-

ation coming up behind the ages coming up behind

them, are used to technology and want to manage

their money easily and quickly, instead of walking to

physically branches to perform transactions and other

operations (Kim et al., 2015) . It uses mobile-centered

information technology to raise the efﬁciency of the

ﬁnancial system (Surendran, 2012).

Among the new Fintech services, Moduit presents

a new investment platform for mutual fund and

change every process of mutual fund investment from

traditional to be digital to help users invest as easy as

online shopping. However, Moduit is a relatively new

player of the Mutual Fund Investment Platform, and

its market is still growing and unstable. Because in

January 2019, Moduit only has 42% of 36% veriﬁed

users that already do the transaction.

The goal of this research is to ﬁnd and understand-

ing of the factors that inﬂuence Moduit user experi-

ence acceptance. To achieve the purpose of this re-

search, this research aims to propose a model and UI

design of Moduit by developing an extended model

based on the TAM (technology acceptance model).

Thereby the research proposes that:

H1. Perceived ease of use will have a positive in-

ﬂuence on behavioral intentions to use Moduit.

H2. Perceived usefulness will have a positive in-

ﬂuence on behavioral intentions to use Moduit.

H3. Perceived ease of use will have a positive in-

ﬂuence to perceived usefulness.

2 LITERATURE REVIEW

Technology Acceptance Model has been developed

by Davis (1989) is one of the most popular research

models to predict the use and acceptance of infor-

mation systems and technology by individual users.

TAM has been widely studied and veriﬁed by differ-

ent studies that examine individual technology accep-

tance behavior in various information systems con-

structs.

In the TAM model, there are two factors perceived

usefulness, and perceived ease of use is relevant in

computer use behaviors. Davis deﬁnes perceived use-

fulness as the prospective user’s subjective probabil-

ity that using a speciﬁc application system will en-

hance his or her job or live performance. Perceived

Murad, D., Fitriawati, N., Murmanto, I., Noviani, D. and Sudido, .

UX in Platform Use Behavior based on Perceived Ease of Use and Perceived Usefulness in Mutual Fund Investment Behavioral Intention.

DOI: 10.5220/0009909402990304

In Proceedings of the International Conferences on Information System and Technology (CONRIST 2019), pages 299-304

ISBN: 978-989-758-453-4

299

ease of use (PEOU) can be deﬁned as the degree to

which the prospective user expects the target system

to be free of effort. The development of TAM dis-

cusses how to create a foundation that can predict and

explains events that drive technological development

(Nguyen and Huynh, 2018). And approval of accep-

tance and publication of integration technology in or-

ganizational concepts (Juliandi et al., 2018).

The more difﬁcult a technology is to use, the lower

the interest of individuals to use it, and the slower in-

dividuals and community groups will adopt it. Mod-

eling Venkatesh and Alomary ﬁrmly state that PU

inﬂuences BI. The existence of PU directly affects

the behavioral intention to use. Furthermore, from

the results of Ducey’s research, it is known that the

user’s intention to adopt new technology is more de-

termined by one’s attitude, such as perceived ease of

use and perceived usefulness (Nguyen and Huynh,

2018)(Chuang et al., 2016).

3 RESULT AND DISCUSSION

In this study, primary data have been collected from

the actual Moduit users. These respondents belong

to a Moduit veriﬁed and prospect client, and the

questionnaires are obtained from an online survey

site, and 97 respondents complete the survey. Likert

ﬁve-point scale ranging from “strongly disagree” and

“strongly agree” were used, and all questions were

measured through self-reporting. The demographic

details of the respondents are as follows 51% are

prospect clients means they have not completed the

registration and 49% are veriﬁed client means they

already complete the record but have not tried trans-

action. Measurement items used in the study are de-

veloped based on a series of experimental stages. In

the ﬁrst step, every detail in the model is borrowed

from the related studies to get initial face validity.

And, all constructs used in this study (Figure 1)

adopt the Venkatesh & Bala theory.

space

Figure 1: construct and item that we used.

In the second step, it is required to test the validity,

reliability, and correlation of the constructs to perform

the path diagram (Figure 2).

Figure 2: The constructs to perform the path diagram.

All variable and sub variable are valid, based on

the observation of the total score of each sub variable

are higher than r table value; which is 0.168 (Bryman

and Cramer, 2005).

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space

Figure 3: Validity test.

The third step carried out reliability testing. The

reliability of measures is tested by calculating Cron-

bach’s alpha. These scores are found to be satisfac-

tory enough.

Figure 4: Reliability test.

There are 14 items with a Cronbach Alpha value

of 0.869 greater than a minimum Cronbach alpha 0.6,

and it can be concluded that the research instrument

used to measure service variables can be said to be

reliable or reliable.

Figure 5: item-Total Statistic.

The following table provides an overview of the

statistical values for the 14 item questionnaire state-

ments. Cronbach’s Alpha value if they are Deleted

known¿ 0.6, it can be concluded that the 14 items of

this questionnaire statement are reliable.

In the fourth step, a correlation test is performed.

Correlation analysis is a study of the discussion of the

degree of closeness of the relationship between vari-

ables expressed by the correlation coefﬁcient. The re-

lationship between these variables can be both posi-

tive and negative. In correlation analysis, there are no

terms independent variable (X) and dependent vari-

able (Y). Because the relationship between the inde-

pendent variable with the dependent variable will be

the same meaning as the relationship between the de-

pendent variable and the independent variable.

Based on the output table above, conclusions can

be drawn by referring to the three basic decision mak-

ing in Pearson’s bivariate correlation analysis above:

1. Variable PEOU (Perceived Ease of Use) is sig-

niﬁcantly correlated with variable BI (Behavioral

Intention), based on the observation that Pearson

correlation score, which is 0.734, is more signiﬁ-

cant than r table value; which is 0.168. As an al-

ternative observation: Sig. (2- tailed) the correla-

tion score value of variable PEOU over BI, which

is 0.000, is less than 0.05 as an alpha value.

2. Variable PU (Perceived Usefulness) is signiﬁ-

cantly correlated with variable BI (Behavioral In-

tention), based on the observation that Pearson

correlation score, which is 0.691, is more signif-

icant than r table value; which is 0.168. As an

alternative observation: Sig. (2- tailed) the corre-

lation score value of variable PU over IU, which

is 0.000, is less than 0.05 as an alpha value.

3. To test the hypothesized relationships between

constructs, the path diagram model is used. Path

analysis aims to provide quantitative estimates of

the causal connections between sets of variables.

The connections process in one direction and are

viewed as making up distinct paths. These ideas

can best be explained concerning the central fea-

ture of a path analysis - the path diagram. The

path diagram makes explicit the possible causal

connections between variables 0. According to

the model summary test results, an examination of

R2 value (perceived usefulness=0.382, behavioral

intention=0.630) demonstrates that the proposed

model shows a substantial amount of the variance.

According to the test result, every hypothesis ex-

cept H3 is accepted. Perceived usefulness and

perceived usefulness give inﬂuence to behavioral

intention directly. However, the indirect relation-

ship between perceived ease of use and behavioral

intention is not supported.

UX in Platform Use Behavior based on Perceived Ease of Use and Perceived Usefulness in Mutual Fund Investment Behavioral Intention

301

space

Figure 6: Result of hypothesis.

Figure 6results are then used to produce the path

diagram as shown in Figure 7

Figure 7: Path Diagram Model

Based on the results of the hypothesis test and the

results of the correlation test (table 7), the variable

Perceived Ease of Use (PEOU) most inﬂuences

user intentions. So, this study provides several UI

design recommendations that emphasize increasing

Perceived Ease of Use (PEOU) which is expected

to increase user interest in accessing the Moduit

platform.

space

Figure 8: Previous Research.

According to the test result, perceived ease of use

is the most correlated variable with behavioral inten-

tion. This study will recommend a new UI design for

Moduit platform based on the outcome.

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302

space

Figure 9: ”How it Works” Page – Before (source:

https://www.moduit.id/id/how-it-works/)

Figure 10: ”How it Works” Page – After

According to the picture, the structure of this page

is a little bit change by switch section 1 to be sec-

tion 2 and section 2 to be section 1. This change

aims to restructure based on the actual process, which

users have to register ﬁrst as a prospect client, then

they able to know what is their risk proﬁle type, make

users quickly understand how the process to invest in

Moduit.

Figure 11: ”How it Works” Page – Before (2)

Figure 12: ”How it Works” Page – After (2)

After changing the structure of the “How it

Works” page, the next section of this page modiﬁed

by adding a sentence too describes clearly about goal

setting features will help Moduit to help users ﬁnd the

product which matches with user’s risk proﬁle. The

new button will bring into the next section to see all

of Moduit’s products.

Figure 13: ”Home” Page – Before

Figure 14: ”Home” Page - After

The ﬁrst image slider of “Home” Page is changed

because the new picture is more describing Moduit

services. It will make users quickly understand what

is Moduit when they open the Moduit website.

Figure 15: ”Home” Page – Before (2)

Figure 16: ”Home” Page – After (2)

The second part of “Home Page,” which changed,

is a new button beside the video. To help users to

know more about mutual fund investment, they can

click that button, and it will bring them to Moduit

“Level Up” Page, which has much information re-

garding Mutual Fund Investment.

UX in Platform Use Behavior based on Perceived Ease of Use and Perceived Usefulness in Mutual Fund Investment Behavioral Intention

303

space

Figure 17: ”Why Moduit” Page – Before (2)

Figure 18: ”Why Moduit” Page – After (2)

Before Section 1, the new section is added to ex-

plain more about why invest in Moduit is save? It

will help the user to understand and increase their be-

liever to Moduit. Chapter 1 and Section to is switch,

it aims to help user understand ﬁrst about good things

of Moduit.

4 CONCLUSIONS

This paper makes a contribution to the Fintech litera-

ture by providing an understanding of the factors that

affect Moduit acceptance. Considering the relatively

recent development of Moduit and the lack of rele-

vant studies, this study offers value as an early study.

The result hint that perceived ease of use and recog-

nized usefulness factor is a critical factor inﬂuencing

the Moduit acceptance. This research ﬁnds that per-

ceived ease of use factor’s indirect inﬂuence on inten-

tion is not signiﬁcant but only affects directly. Ac-

cording to the result, this research also gives some UI

design recommendations to Moduit. However, this

research has some improvements in the future. First,

the researcher can add trust factors. Second, the re-

searcher can retest new design of system maintenance

that Moduit has done in the future.

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