Exploring Mobile Banking App Security from User’s Perspectives

Abstract

Organizational support and improved performance have seen unprecedented enhancement due to the ability of internet technology that is constantly changing the ways and procedures for attaining organizational goals. However, given the volume of digital-related transactions today, especially with mobile internet banking systems, cybersecurity threats, and privacy concerns arising from Internet use by businesses, their employees, and external stakeholders have become prevalent. The detrimental effects resulting from cybersecurity threats have an adverse effect on the confidentiality, integrity, and availability of information for banks and users of their mobile banking app services. The users’ knowledge of cybersecurity vulnerability hampers their decision-making about adopting mobile banking. This study examines factors that affect cybersecurity and how mobile banking app users perceive cybersecurity issues that may hinder the banks' ability to expand mobile banking usage amongst their customers. Additionally, this study suggests a conceptual research model that illustrates the relationships between the variables that affect cybersecurity. The study discovered that users view knowledge of potential identity theft, impersonation, and account hijacking as cybersecurity threats that impede their use of mobile banking. The review of literature conducted identified that mobile banking app users who regard these concerns to be real are hesitant to embrace mobile banking. Similarly, the knowledge about cybersecurity threats putting mobile banking app users in danger makes them reluctant to use the app for banking purposes. As a result, mobile banking serves as a reminder to strategically reinforce the security and privacy issues in relation to cybercrime in the banking industry. Practically, the survival of banking in the future will depend on the retention of its mobile banking app users. The study contributes to the theory of cybersecurity, particularly in using the Internet as a platform for mobile banking