Monday , September 16 2019
Home / Research Papers / Business / Security in Electronic Online Banking Thesis Paper Example

Security in Electronic Online Banking Thesis Paper Example

Security In Electronic Banking Transactions

Introduction

Online banking allows the customers to make all the financial transactions easily and on the secure website operated through their banks. All the banks in the world facilitate their customers with the e-banking transactions. With the advancement in the technology and expansion of the globalization, the banks have to launch the new feature to increase their customer base, reduce their cost and to improve their financial services. There are many threats which the banks are faced, the hackers can get access to the information and data of the users (Choubey & Choubey, 2013).

Every security system in the world has its weakness and strength. There is always a threat to the security system of the bank or any other organization. The reason behind this is that criminals have equipped themselves with the best technology. Therefore, now to stop them, companies have to make their security system strong and reliable. The penetration test is used to make the security system strong and remove the weaknesses of the system.  The art of hacking is constantly increasing and keep pushing the system to the limits.

Security in Electronic Online Banking Thesis Paper Example

With the online banking system, the users feel secure and they can easily access their accounts without going to banks. The ideas of the paying the services and good electronically is not a new concept. In the early stages of the internet evolution, it was common to make all the assumptions that each of these machines that are used by the ten people.  Nowadays the people are using the mobile commerce to use its accounts payments technology providers have appeared.

Security is one of the major factors that must keep in mind before establishing a business and in online banking due to the existence of the internet, there must some threats can found that cause the problem for online banking in terms of the transaction. The transaction can be possible in terms of electronic banking like the use of ATMs because there is no need to enter the branch and pass the cheque for taking money. (Kolodinsky, Hogarth, & Hilgert, 2004).

Problem Statement

There are many of the problems are concerned with the E-banking transaction on national or as well as especially on the international level. These transactions need to be done on the basis of the clear transfer of money from one place to another so that it can be easily transferred from one person to another without any disturbance or interruption. There came a lot of improvements in the technology but still, it has some drawbacks which are making this strategy more problematic and people who are facing this issue are very much disturbed by this problem. ( Integrity Solutions.com, 2014)

Aims And Objectives

This research paper aims at maintaining payment security is required for all entities that store, process or transmit cardholder data. Guidance for maintaining payment security is provided in PCI security standards. These set the technical and operational requirements for organizations accepting or processing payment transactions, and for software developers and manufacturers of applications and devices used in those transactions

Importance

The result of current study contributes to solve e-banking service and improve it in terms of providing efficient and proper strategies to the customers who use it. When a customer is known by the proper procedures of e-banking then it became valuable for it. If the E-banking results will improve by improving its strategies and methods that are implemented in this system.

Scope

This study is limited only to Saudi Banking. The researchers state that this scope is working only in the Saudi Arabia country because it has a limited terminology of working as well as it has a specific task of doing anyone in terms  of transacting money from the backings as well as only to Saudi people not from the outside of the Saudi Arabia as the system is not very vast and as well as the system as some issues if extended to the country other than Saudi Arabia.

Literature Review

The Internet has changed the lives of the people; the people get access to their information or data on one click. All the local and the international banks have their online websites through which the customers do their transactions.  With the help of online, the customers can easily open their new account through over internet. The online banking facilitates its customers and the customers can easily handle their account online without any problem. Online banking is one of the great sources that change the means of banking because due to this advancement of online facility customers can easily access their account and makes the transactions in all over the world and all of this is possible due to the presence of internet. The Internet brings the change in the banking industry and makes the transaction easier. Security is the term that is associated with the online baking essentially because without security confirmation, the online banking system is not secure and it will be the great loss for banks and clients. Different articles are discussed here for the literature review.

Pikkarainen, et al (2004) have described the banking technology that with the extension of the technology model. Online banking changes the way of the transaction and the other aspects that associate with the banks. Online banking is accepting by the consumers rapidly in all over the world because it has many advantages because due to this facility, consumers can access their account easily and manage their account through transactions. The study is about the traditional technology acceptance that tells how the people accept this online banking facility means how the online banking get popularity among the people. The research study is conducting on the basis of samples that use the TAM software for knowing the acceptance and the results show that information that is available on the websites are the main factors that play their role in the acceptance of the online banking. Therefore, it is clear that online banking makes the changes in the world because people accept this technology to enhance their banking experience.

Aladwani ( 2001) have discussed the issues that are relevant to the online banking with the help of drivers, development challenges and expectations of online banking. The study is conducted to find out the results about the risks that are associated with the online banking because online banking gets popularity among the people. This report is about the quantitative study of the bank’s aspects that observed with the help of customers, bank employees like IT managers and the observation give the clear idea that there are some risks that associated with the online banking. Online banking is the facility that growing rapidly because it relates to the retailers who use the online banking services for the transactions and other purposes. From the report, it is observed that online banking is the newest technology that introduces to the consumers for the better experience for using banking facility.

A study is conducted by Tan, et al (2000) that describes that what are the factors that make the influence in the adoption of internet banking. several factors are discussed in the study to draw the conclusion about the influencing factors like attitudinal, social and behavioural control factors are studied in this report. From the study of these three factors, it is observed that social factor play the less significant role in influencing the adoption of internet banking which means that attitude and behavioural factors are the major factors which make the great influence in the adoption of internet banking. other factors also include the government influence because they support to enhance the e-commerce industry and then automatically internet banking get adopted by the people.

Jaroslav, et al(2016) have conducted the study about the satisfaction of the customers in regards to online banking in commercial banks. Online payments are strictly secure because it is the huge amount of transaction that can be transferred from one account to another. Thorugh the security of the banking system, online banking get popularity among the people because online banking is mostly used to transfer money from one account to another and commercial banks also use the online banking facility and it will be the helpful study that shows commercial banks play an important role to provide the customer satisfaction in regards to the security of  online banking facility. Security is the necessary factor that must be kept in mind by the service providers that provide the online banking facility.

A study was conducted by Mukherjee, et al (2003) about the role of trust in the online banking. It is about the factor which has worst importance in online banking because its all about the relationship between bank and customers and trust is the factor that helps to build a relationship with online banking. Communication is the best source for building trust between bank and customer because banks assure the customers that the facility is secure and all the transaction is safe. Trust can be built among the public with different techniques that adopted by banks and they make a commitment to the customers that online banking depending on the perceived trust. With the help of this study, it is observed that how the trust factor is necessary for the online banking because without this factor relationship can never build between banks and customers.

Qureshi, et al (2008) have described the effect of online banking in the globalized world that how this technology gets acceptance rapidly in worldwide. Different technologies are invented in this modern era of technology that changes the world. online banking is one of the technologies that get popularity in all over the world. Everywhere in the world, the technology gets adopted by the counties but Pakistan is in the top of the country that has the highest rate to adapt this online banking facility because it grows up rapidly. The major reason for the popularity of this facility is the security system of the transaction. Banks gives the surety that online banking system is best for the transaction and other facilities that related to banks.

Advantages of The Online Banking

There are many advantages of the online banking, it can provide the comfort ability the customers can easily get access to their account and make financial transactions through internet. The second advantage of the online banking is availability the users can get access to their account and made transactions 24/7. The third advantage of the online banking is the faster processing of the e-banking website. Within a minute the money is transferred through the internet(Nwogu, 2014). The fourth advantage is that the online banking offers different services to its customers like bill payment, money transfer and checking accounts. The fifth advantage of the online banking is reliability because the banks provide the authentic and reliable platform to its customers so that the customers can do the transaction easily and with full confidence.

The Disadvantage of The Online Banking

There are some disadvantages of the online banking because there are many security threats in the online banking. Some customer does not prefer the online transaction as the think that the online transaction is it reliable and secure. The customers think that the e banking is not user-friendly.

Internet Banking Attacker Modeling

There are many threats to the internet banking; the hackers can get access to the information and data of the customers through the network. The vulnerabilities in the network allow the hackers to get access to the information band data of the users.

  • Malware

Malware is the type of attack in which the unauthorized users can get access to the information of the users. The hackers can inject the malware through the internet connection. After injecting the DDOS, the hackers can break the passwords and the chipper text by using the brute force attacks. The vulnerabilities in the network allow the hackers to get access to the accounts of the users and steal all their confidential information and data. The Trojan is the type of the malware, which can allow the hacker to attacks through the system. The dead of the paying the services and good electronically is not a new concept.

In the early stages of the internet evolution, it was common to make all the assumption that each of these machines that are used by the ten people. Mostly the hackers hack the mobile phones applications to steal the information and data of the users and misuse it. The different aspects of the security are mentioned as well as the threats are also explained that what rather threats a mobile phone is faced. As with the advancement in the technology, the android is the most famous operating system and it will offer the different application to its users.

The hackers focus on the Android, hacked the application of the Android, and attach the malicious code to the applications. It is stated in the report that the mobile phone is hacked and this attack is mostly in android application. It is stated that the apple is suffered from the mobile hacking because the hacker hacked the application of the app store.

  • Man in The Middle Attack

The man-in-the-middle attack is an attack through which the hacker is in the middle of every transaction. In this attack, the hacker can sit in the middle of the network all the information between the user and the bank are located by the man in the middle. The hackers can get access to the information and data of the users. All the confidential information of the user can steal by the man in the middle(Khan, 2014).

  • Phishing

Phishing is the process through which the hackers acquire all the sensitive information and data of the users. Through the phishing, all the sensitive data of the users can hack with the help of the network. Phishes are trying to monitor all the details of the personal bank account and through this, they can easily steal all the data from the customer’s.

Security For Online Banking Websites

The PCI DSS is applied to the network just to protect the information of the customers who use the application of online transactions. While making the DSS it is important to focus on some points to provide the dedicated link for the customers to operate. It is important to protect the network system by applying the firewall between the routers through this it is easy for the customers to operate their accounts. The encryption will be applied to the customer’s data through this encryption it is easy for the banks to protect their card information.

The team should monitor all the accounts of the customers and regularly check the network system just to confirm that there are no malware attacks over the network. The encryption will be applied to the customer’s data through this encryption it is easy for the bank to protect their card information. The cyber-security framework is applied to the system that will help to protect the confidential information and data of the customer from unauthorized access.

If the network is secured it is easy to protect the information card and it is easy to protect the bank amount details of the customers (Ericsson, 2010).  Only the authorized users can get access to the network system and they have encrypted users ID and passwords, which they use to log in their accounts. The banking websites are made according to the PCI DSS instruction and the team can follow these steps like Maintaining and building the secure network, Access control measures.

Methodology

For this study, research is conducted for Security in electronic banking transactions. Research is conducted for the data collection through the second method and the qualitative approach is used.  The data is collected from the reliable and valid resources as discussed in this section. In the secondary data collection, the method the data is collected from the previous researchers, journals articles, peer-reviewed articles, newspaper articles and reports that are published in the authentic resources.

Current research uses the secondary analysis is considered for the effective purposes of the prior study focused on the original work of the journal and authentic source of books for security in electronic banking transactions. There could be better analysis of the security in electronic banking transactions. The research question, hypothesis, and aims of the research discussed. This study makes sure to do work with effective efforts and it fulfilled the demand of the study. All the research questions have the answer and drawback of the topic. Through secondary data, the research is investigating each perspective for the secondary research. Secondary research could be better than the systematic reviews and meta-analysis for these qualitative studies.

The research investigated the security in electronic banking transactions. We know thousands of companies are engaged with e-banking. This research is focused on the online global banking and their securities concerns. Every bank represented their region and allowed for comparing the security in electronic banking transactions of the different bank in Saudia Arabia. Standardized reports get from the banking about security concern in the transactions.

Hypothesis

Based on objectives following Null hypotheses have been framed for testing purpose:

H01= There is no significant difference in the bank customers perception towards security in electronic banking transactions.

H02= There is no significant difference in the bank customers ‘awareness towards security in electronic banking transactions regarding the use of ATMs across selected banks of Saudia Arabia.

H03= There is no relationship between bank customers perception of security in electronic banking transactions.

H04= There is no significant difference in bank customers‘ perception towards security concern regarding the use of Internet Banking across selected banks of Saudi Arabia.

H05= There is no relationship between bank customers perception about security concern for transactions.

H06= There is no significant difference in bank customers perception towards security satisfaction regarding the use of ATMs.

H07= There is no relationship between bank customers perception of security concern and satisfaction in case of Credit Cards use.

H08= There is no relationship between bank customers of security concern satisfaction in case of Mobile Banking use.

Research questions

For this research, the ten features are used for collection of data. The features of this security concerns are mentioned here:

  1. Was customers are satisfied with the use of ATMs?
  2. Were people getting the security concerns for transactions?
  3. Was encryption used in the transmission of the security concern during a transaction?
  4. Was encryption can use for the storage of the banking data?
  5. Was there is any statement on the use of 68-bit encryption?
  6. Did there is an issue in all World Bank for secure transactions?
  7. Was there is any declaration for the use of security concerns?
  8. Did any site discuss the multi-level of the security concerns?
  9. Was transaction is safe in the bank?
  10. How can we reduce the chances of the security concerns in transactions?
Method For Data Analysis

In this research, secondary research is used for the multiple qualitative data sets that can get from the previous journal and authentic books. Through the consideration of the previous data of the journal and used for utilization of the existing data. The secondary research focused on the effective tool that used for this research. The research can make the collection of the data that is relevant to the effective materials and sample can collect and analyzed data that get from the previous researchers. In this study, all data collected from the authentic source.

Research Design

            In this study, current researchers focused on the secondary and qualitative data collection method can be used for researching the security in electronic banking transactions. Various data of the literature review can be used for analysis of the security in electronic banking transactions. Bank made the efforts for safe the security concern about transactions. The qualitative method focused on the elaboration of the exact phenomenon of the existing problems. The secondary data analysis is effective for the qualitative data. For this study, there is consideration of the secondary analysis so that there can be the utilization of the previous authentic data. The secondary analysis could better for qualitative data collection. For the better and accurate evaluation of the data, analysis can be conduct for the research on the topic of security in electronic banking transactions.

The secondary analysis can direct the research project because of the consideration of the data that can reliable and valid for the getting the effective results. The secondary research helps to get the analysis of the security in electronic banking transactions. Forgetting the authentic and reliable data, make sure the reliability and validity should be standardized.

Benefits For Secondary Analysis

            For the analysis of current research, security in electronic banking transactions analysis secondary data can use for findings. The data that is considered or collected by me in this research is used in order to help the current research studies. Through the analysis of the data, in the study result can be answers related to the specific research questions that are there in the research. In order to help the currents research, there is the focus on the earlier researchers that are relevant to the security of banking and transactions, the banks that continuously doing in arrange to arrive at the well-organized monetary outcome.

For the getting the efficient results, increasing the efficiency of the research, the current research considered as the efficient reply categories so that in this research could be the better analysis. Thus, the biggest advantage of the secondary research is that it uses the secondary data is effective for the researcher due to some advantages that secondary research saves the researcher time, money, resources as well as the energies of the researcher. Furthermore, through the focus on the level of capability, there is the compilation of the effective material so that there could be effective and particular survey regarding the analysis of the security in electronic banking transactions.

According to the statement of the problem the current research based on the secondary research that is a flexible method for maintaining the effectiveness of the research. Forgetting the relevant data in several ways, the research paradigm examines the evaluation of the research for the security in electronic banking transactions. In this study of bank security, provide for the transactions with the analysis of the applicable data in more than a few ways. The research paper considers the better examination and evaluation of security in electronic banking transactions, so that could be noticed and there can be effective evaluation and the existing research that how the company is increasing its revenue in the banking market.

The secondary research is useful for the security in electronic banking transactions because in this research the main focus on the banking transaction and security measures. In this study, the data can be used in the form of the detailed qualitative form and secondary research conduct the effective results in the beneficial and reasonable.

Tool For Data Collection

In this research, a design is the overall plan for obtaining of answers of the question by the help of secondary research and handles the difficulties of the come across the research process. According to the Hair et al. stated that most research objectives could be met by the user of the three types of the research design. Like exploratory research, descriptive research and causal-comparative research. For this study, the data is collected from the secondary resource that is reliable for this study.

Secondary research based on the analytical works that comment and interpret other work such as getting from the secondary source that is the reliable source of getting data. The data is second hand and published data has the accuracy and they often used for the acceleration of the results. Some sources that used in this research is the textbooks and bibliography.

Validity

Validity is the quality of being logically acceptable for the authority. In this study, the validity is a concern with the accurate data the state or quality of the being valid for the research. Validity helps to make the effective information you are getting is valid and evaluate the effectiveness of the study. In this section, the research the information relates to the problems or all null hypothesis can be evaluated. For maintaining, the validity expert helped with this paper and valid and authentic material could use the hypothesis investigated.

Reliability

To determine the information used in this research is reliable, data evaluate the following research in the as criteria. Data is added in this research paper is written research authentic work and the author has the qualified and published in the world. The purpose of the research of the article is not appropriate for a method and measuring strategy. After checking the reliability of the data used for this research study. It is the type of secondary research that used gathered accurate the data. All information all get from the authentic source. Research study could found in the similar information and used a reliable source of the data. Customers want safety in terms of securing their passwords of online banking systems because it is a high-security risk term as it needs to be made purely secured for the customers because customers want a precise and accurate working system that saves their material from being hacked by the hackers.

Hackers are always in a mood that when they find some software so that they can hack it and leak their secret information especially in the term of making it and selling it to other banks in terms of taking charges from them as it is an unethical and complete illegal process. This new method introduced makes the data of the users secure and safe. It makes the user more reliable and trustworthy towards the online banking system of that bank.

The result of reliability concluded that people are unaware of the use of internet banking in the start when it introduced later it makes them aware of the system and makes them able to use this system in a way that it would be a good system to work effectively.  The need to be consistent in making their systems upgraded time to time and a swell a making their tasks well.

Justification of The Research Method

The aim of this research to justify the research methodology used in this study, secondary research used in this study explained the approach designed discussed and justified. Research processes aim and objective of this research is just the research designed. This problem is based on the qualitative data and secondary data get from the authentic journal and books of the writers that are accepted in the world.

The researcher used the methodology that justifies that this study should need deep knowledge for the solution of the problem. For the security of the banking, the secondary research is valid and reliable because of the need of the authentic at of the previous researchers. (UK Essays, 2015)

The most advantage for the secondary research the data is a valid and authentic source of the previous research. Another important advantage of this research by using the low cost and researcher did not use the time, money, resources and energies for the collection of data. Research conducted for using the best authentic source of data for getting the quality result. I justified the rationale for the research that is conducted as secondary research in this study. (Donald R. Moscato, 2012)

Finding

The banks provide the effective and efficient online services to its customers. The e banking is helpful for the customers they can access their bank accounts from everywhere in the world. To maintain the e-banking security is difficult because the mobile is attached to various devices. It is stated by the researchers of the Kaspersky Lab, a computer cybersecurity company. The online banking facilitates its customers and the customers can easily handle their account online without any problem(Cristina, Beatrice, & Florentina, 2008).

The online banking is reliability because the banks provide the authentic and reliable platform to its customers so that the customers can do the transaction easily and with full confidence. The hackers can inject the malware through the internet connection. After injecting the DDOS, the hackers can break the passwords and the chipper text by using the brute force attacks. The vulnerabilities in the network allow the hackers to get access to the accounts of the users and steal all their confidential information and data.

Findings are actually the results that are we conduct by following a proper methodology of working on this issue. This issue can only be resolved in terms of finding it unique and differently solution of this issue so that it could be resolved and implemented properly. This banking is no doubt popular with people now a day but many of the people find problems in adopting this issue due to some reasons they hesitate in trusting on this method. The security and privacy term are considered a major issue of discussion for it as it is a very sensitive method.

The transaction of money must be smooth and efficient so that it can make the process complete on time as a first priority. Sometimes problem becomes about the distant places of the banks from where people have to travel to some distant places sometimes to take their money this is also an issue considered in their money transfer. The popular issues are the time problem and the issue of keeping them waiting for their money to be transferred from one place to another. Time management needs consistent working of the banking systems. This research is based on solving the issues of the people from e-banking unwanted transactions so that they can get their money on time with best results and as well as on time transactions as well. (Nap.edu, 2018)

The main aim is to maintain the security of the transactions of money every time when needed. People find issues in the matter that they have to travel along for taking their money they wanted to have by just sitting in their homes because they have to go there it finds sometimes hectic for them. Sometimes a person needed money at the time when he is in a critical situation so he or she wanted to have it quickly at that time and he or she wants a smooth transaction so that their problem could be solved.This situation sometimes becomes very critical and as well as it became very much problematic and critical as well because of the need of money at that time if not fulfilled then it became useless if it is being considered late after the real-time has passed away. (Jung Hyun Lee, 2018)

People sometimes had another issue which is they have to tackle the issues of the systems of banking that they have for transacting the money from the banks. Sometimes when banks transfer money fo someone from its account to its recipient then it happened that there came a system failure by electricity cut off or by internet connection ran out.This problem is very much critical and as well as it has to be solved immediately because this problem is very much sense as this can cause loss to the person who is transferring money and it also had problem with the people who wanted his or her money on time by the bank or by the person who is sending it.

This system failures issue cause the bad impression of the electronic banking services of that bank who is offering their services to its customers. This issue is to be solved on first priority so that people cannot suffer any issue in terms of transferring their money and getting it for their use. Due to presence of security and online transaction through e-banking the way of shopping is also changed because banks make the transaction secure and people enjoy their life by shopping online through swipe their ATM cards or visiting the shopping mall or food court to enjoy their meal and then they pay with the ATM and all the transaction of money is done online and it will be the great source to joy the life happily. (Shah, Kwak, & Holbert, 2010)

Security must be considered by the banks and that is why they provide the e-banking transaction facility to the people and change the way of living their life.E-banking transaction is not only the transfer of funds from one account to another, even it is related to all the aspects of banking that are efficiency, security, and adaptiveness of the whole transaction process. E-banking changes the meaning of banking because people can use the online transaction for different purposes like pay the utility bills, school fees etc.

In fact, the online banking system is used for every purpose which is possible through the online transaction and the whole procedure is fully secured because there is a lot of transaction money that people can transfer online from one account to another account.For the confirmation of security of the transaction in e-banking, there are several techniques that use for the secure transaction. Using the official website of the bank and the official app of the bank is used by the customers because these websites and apps are fully secured because the bank is responsible for the security of these facilities. Security is made for the convenience of the public as well as for the banks because of it all about the money that people spend to meet the requirements of daily life. Banks also provide the facility of text messaging and it is for the security of the transaction.

Whenever a transfer is done the message is forward to the users about the transaction amount For the security in e-banking transaction, software should be updated because the up to date software will help to secure the transaction even the software is related to mobile phones or the computers or laptop because all the devices are used for the transaction process in e-banking. If there is not the up to date software then the hacker can easily steal the account of the users and it causes the loss for both banks and users. It would be the safety measures for the online transaction because banking system gets familiarity with the presence of online banking(Liao & Cheung, 2002).

E-banking get the revolutionary change in this modern era of technologies because this transaction will also play its role to make the world globalized because the online transaction can be made in all over the world and this vast facility can be used due to the high security that banks provide to their customers. With the surety of the security system and the facility of e-banking, the transaction process gets popularity among the people and they can prefer to use the online transaction instead of manual billing. Therefore, it is the responsibility of banks to protect the online transaction procedure to enhance the people experience.

The method which we adopted is that we get the information from many of the articles written on the E-banking transaction issues and gathered a lot of data about this issue. Findings we performed are about the online system’s portal of the banking systems in a way that how they are going to handle their online system as well as they are going to manage and work on their online portal system. As all the functions are to be maintained according to the method, it should be followed in the working systems of the bankings. (Chavan, 2013).

The online system must be efficient and smooth enough that it should be able to manage the system properly and efficiently as well as it manages the transactions smoothly and efficiently, as it needs to be done with consistency and accuracy as a must. Because if they do not follow the proper system of online banking then it became impossible to make the system on efficient working as if the system does not work properly then customers do not rely on that bank’s services anymore because customer always wanted perfect services. Findings includes all the results of the methods that have been implemented in order to complete the process smoothly and efficiently as well as the system wants to manage the processing efficiently because e-banking needs a consistent flow of internet and as well as a smooth flow of the working of the management of the organization needs to be done consistently and as well as they are going to take their services to the customers.

In terms of e-banking customers want a proper and efficient way of transferring of money from one bank to another so that it can be made easy for them to transfer their amount through e-banking from one p[lace to another. Many of the information is placed on the browsers that helps very much in order to find out the solutions to the problems that are concerned with the e-banking with different banks. A different form of banks especially the private banks who have online banking facility for their customers are very much important as well as it must be efficient and smooth. (TAFADZWA ZIMUCHA, 2018)

The customer who is going to transact its money from one bank to another through e-banking then it must happen because of making an account in the prescribed bank so that it becomes a proof for the users that they are the part of the banking system. When customer logs into its account then he or she be able to transfer his or her money from one bank to another. The accounts that are made in the banks should be made according to the need of the customer’s amount of transaction of money. If client having a trouble in logging in into its account then it became very much difficult for him to make it complete and proper functioning transaction.

Findings related to the improvements of the online banks account issue results the best as this improves the efficiency of the working about the transaction of money of the people through the online system from one place to another. Sometimes the distance becomes the major issue in the transaction of money from one place to another. If distant matters then it became a very much easy and difficult as well as it makes the transfer smooth and efficient as well. When your system is efficient and smooth it makes your customer reliable on your services as well as it makes your system smooth and efficient with the best services provided to your customers. (Wilcox, 2016)

Some of the online portals that need to be doing a consistent e4ffort must be more efficient as well as they must be more pressed and as well as important to take care of the steps that makes it efficient and concise enough that without any problem it would help the customers  in terms of making them efficient and smooth in their money transactions through E-banking.

There is a method that when implemented in the security factor so that it can be made accuarate and precised to runs smoothly and accurately as well in the login sysetem of the banks it can be helpful and makes your system efficient it is known as the (MFA) multi-Factor Authenticaion system that enables the system to check it time to time as when there happened to be an error in the suystyem then it would becom notice at the right time and can resolve quickly as well as it makes the working smooth and efficienty as well of the E-banking system of that bank with which you are dealing in terms of transferring money from one plce to another. (Consumer.ftc.gov, 2012)

There introduced some of the virtual keyboards in the system to elaborate the true meanings of the actual working in an online banking system. This keyboard is considered to be a good application for using in the system of online banking because they are designed according to the needs of the system which makes them appropriate and as well as make it efficient and makes it happening according to the need of the system.

Conclusion

It is concluded after analyzing the situation that the online banking is the faster processing of the e-banking website. Within a minute, the money is transferred through the internet. The online banking offers different services to its customers like bill payment, money transfer and checking accounts. With the advancement in the technology and expansion of the globalization, the banks have to launch the new feature to increase their customer base, reduce their cost and to improve their financial services. There is much security which the e-banking are facing nowadays but the banks can improve their security only the authentic users can get to their bank accounts are have secure transactions.

When people started using the system it became very much helpful for them as they have to do the transaction on outside the country as well as this system makes their transactions safe and secure and provides an on-time delivery as well. Because when you satisfy your customer with your best services then it became very much good for your reputation and as well as for your efficiency of the working system as a first priority people use to commit with your banking services.

The people are relying very much on faulty towards the use of online banking. The online banking system is the most efficient and quick way of transferring money from one place to another. People now a days are very much familiar with the use of internet banking because the online banking system is making the working of people most efficient and as well as more reliable for the people to use it on regular basis for transferring the money from one place to another to one person  to another person to fulfil their needs and wants. About money.

The literature review stated that online banking system is very much unique and as well as it is very much helpful for the people in terms of transferring money to their loved ones who wanted it to fulfil their needs.It is concluded that the best and the most efficient working system needs to be done according to the most efficient and proper way of making it precise and accurate in terms of making it comfortable for the people who use this services to transfer the money. The use of most digital and advanced services in the electronic banking needs to make it more efficient and as well as more accurate to use it.

Recommendations

Based on the above overall discussions and the analysis on Security in E-Banking transactions it is observed that while banks improve the systems working security systems smoothly and making them efficient for the use of people then it became easy for them to transfer money from internet help. Now banks use a virtual keyboard in terms of making their working smooth and efficient because that keyboards are designed according to the usage in online banking and they make the online banking system smooth and efficient as well as makes it successful for the use of the users.

The use of virtual keyboards which are designed according to the system needs of security in online banking makes the working of the banking efficient and very much smooth as it is the most efficient way of checking the security system of the banking in online transactions mostly it happens that the system they are working with have some errors in it and as well as they must consider seriously on the portion of securing passwords of the systems in which they are going to implement their workings efficiently as well as accurately as well.

It is strongly recommended that banks should use the risk lessening strategy sop that customers more freely on the policies of your banks in international banking as well as it makes the efficiency of your bank great. Most of the times it happens that when banks work on the efficiency of the pure and efficient banking systems in terms of making them accurate for the users then they became very much famous in terms of making the workings efficient and strong as well.

The recommendations stated that some of the issues and policies if changed in an online system in banking then it became very much responsibility of them to save the data of the users from the hackers As hacking system is very much dangerous and it is making an enormous feature that is spread into the software system, as well as they, are working in an efficient way so that it can be made safe from the hackers as well as hackers want the information of the accpint systems of the bpeople so that they can get money from them. And that money they will utilize for their needs this is an interesting fact and it should be controlled through implementing a proper security system in the banks.

References
  • com. (2014, July 28). Top ten issues facing banks today. Retrieved from https://www.integritysolutions.com/insights/blog/top-ten-issues-facing-banks-today
  • Aladwani, A. M. (2001). Online banking: a field study of drivers, development challenges, and expectations. International Journal of Information Management , 21 (3), 213-228.
  • Chavan, J. (2013). INTERNET BANKING- BENEFITS AND CHALLENGES IN AN EMERGING ECONOMY. International Journal of Research in Business Management , 01 (01), 19-26.
  • ftc.gov. (2012, August). Electronic Banking. Retrieved from https://www.consumer.ftc.gov/articles/0218-electronic-banking
  • Donald R. Moscato, S. A. (2012). International Perceptions of Online Bankingsecurity concerns . Communications of the IIMA , 50-64.
  • Jaroslav, B., Michal, K., Felix, K., & Antonin, K. (2016). Electronic banking security and customer satisfaction in commercial banks. Journal of Security and Sustainability Issues , 5 (3), 411-422.
  • Jung Hyun Leea, W. G. (2018). A study of the security of Internet banking and financial private information in South Korea. Retrieved from https://www.sciencedirect.com/science/article/pii/S0895717712002026
  • Kolodinsky, J. M., Hogarth, J. M., & Hilgert, M. A. (2004). The adoption of electronic banking technologies by US consumers. International Journal of Bank Marketing , 22 (04), 238-259.
  • Liao, Z., & Cheung, M. T. (2002). Internet-based e-banking and consumer attitudes: an empirical study. Information & Management , 39 (04), 283-295.
  • Mukherjee, A., & Nath, P. (2003). A model of trust in online relationship banking. International Journal of Bank Marketing , 21 (1), 5-15.
  • edu. (2018). Overview of Conclusions, Findings, and Recommendations. Retrieved from https://www.nap.edu/read/11520/chapter/7
  • Pikkarainen, T., Pikkarainen, K., Karjaluoto, H., & Pahnila, S. (2004). Consumer acceptance of online banking: an extension of the technology acceptance model. Internet Research , 14 (3), 224-235.
  • Qureshi, T. M., Zafar, M. K., & Khan, M. B. (2008). Customer Acceptance of Online Banking. Journal of Internet Banking and Commerce , 13 (01), 1-9.
  • Shah, D. V., Kwak, N., & Holbert, L. R. (2010). “Connecting” and “Disconnecting” With Civic Life: Patterns of Internet Use and the Production of Social Capital. Political Communication , 18 (02), 141-162.
  • TAFADZWA ZIMUCHA, N. Z. (2018). Journal of Internet Banking and Commerce . Retrieved from http://www.icommercecentral.com/open-access/an-evaluation-of-the-effectiveness-of-ebanking-security-strategies-in-zimbabwe-a-case-study-of-zimbabwean-commercial-banks.php?aid=38131
  • Tan, M., & Teo, T. S. (2000). Factors influencing the adoption of Internet banking. Journal of the AIS , 1 (1), 1-44.
  • UK Essays. (2015, March 23). UK Essays. Retrieved from Discuss and justify the methodology used Research Methodology: https://www.ukessays.com/essays/psychology/discuss-and-justify-the-methodology-psychology-essay.php
  • Wilcox, M. (2016, April 7). Finding the Link: Mobile Banking and Transaction Frequency. Retrieved from https://www.fiserv.com/blog/the-point/finding-link-mobile-banking-transaction-frequency-blog.aspx

Leave a Reply

Your email address will not be published. Required fields are marked *