User perceived secure mobile banking service provision framework

Abstract

The rapid development of mobile technology has resulted in the domination of mobile devices as the main channel through which people conduct most of their day-to-day activities. Several financial institutions are incorporating mobile banking and financial services as a key component of their growth strategy. However, the increasing capabilities that mobile technology offers have brought about a large number of security challenges to mobile banking. This calls for the need to equip financial institutions with a framework for assessing how secure the mobile banking services they provide are. Survey research design was carried out to determine the cyber-security challenges to mobile banking experienced in SACCOs in Kenya and the approaches used to minimize their impact to mobile banking service provision by SACCOs were evaluated. The study determined the cyber-security challenges to mobile banking. It also evaluated ways in which SACCOs ensure user perceived secure mobile banking service provision. A user perceived secure mobile banking service provision framework was proposed based on the findings. The proposed framework was put on test using experts and was found to be highly reliable. The framework provides means by which SACCOs can assess how user perceived secure the services they provide to their clients are.