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Information technology has taken a further step in the fundamental development in the banking system. Over the years there has been high increase in the use of internet and mobile banking. As a new way of performing banking transaction through a distribution channels. The development and increase in the information technology on the banking system has made operations and service for financial institution relatively easy and so increased customers satisfaction. As new methods of electronic banking services are formed the threats also increased drastically. This paper presents the result of a qualitative methodology using a survey which was applied on 114 …show more content…
This study would critically analyze these research questions:
What are the main security issues faced by using e-banking system?
What Impact does the security issues or challenges have on e-banking?
Internet banking is the can be classified as the fastest method of banking in the world compared to the old traditional banking system. The purpose of this literature review is to examine research that addresses the analysis of information security in the e-banking sector. Most banks currently deploy the online banking system, as it enables them to provide quality services to a large number of customers. Nevertheless, the attractiveness of the online banking has appealed to cyber criminals in exploiting the online banking system for customers. Internet banking provides customers with twenty four hours services from anywhere and at any time, internet banking provides high level of availability for users. Security is one of the main issue when adopting the internet banking. Internet banking vulnerabilities includes as the rejection of services, loss of integrity, data breach, losing customers ' personal information, virus attacks, and credit card …show more content…
Based on my questionnaire 41% was the highest value of the participants that use more was the of e-banking system, 35% participants indicated their interest as medium and 24% indicated their interest as low for the use of the e-banking system. Based on the data collection 26% participants on a high scale consider online banking as an unsafe method to do banking transaction, 27 % participant considered it on a medium scale, and 47 % participant consider it on a low scale. From my observation 37 % of participants on a high scale prefer online banking on their smart phones, on the medium scale 47% of the participants and 16% of the participants on a low scale can use the online banking on their telephone. From my observation 47 % participants on a high scale, 30% participants on a medium scale while 23% on a low scale are willing to use their credit cards on the web. Based on my observation 41 % participants on a high scale, 8% participant on a medium scale and 51% participants on a low scale do not trust the online banking system. In the survey, 76% of participants responded YES to their level of safety using the Automated Teller Machine (ATM), while 24% of the participant responded NO to using the ATM. Through my findings 50% of the participants are willing to use their telephones on the web, 50% of the