A Study of E-Banking Security Measures Adopted by the Indian Public Sector Banks with an Outlook For Globalization

Document Type : Original Article

Authors
Mohammad Javad Azizi Sorkhani
Hamidreza Kordluei
Abstract
Nowadays e-banking services that take place through virtual and public channels play special role in the life of people around the world. Therefore, lack of security on performance of national and international banks in the context of globalization and distrust of people to these services will lead to undesirable effects. Hence, security is one of the most important elements that will affect banking transactions and its shortage prevents the development of business. For the same reason, the need for information security is determined in the banking system. Accordingly, several factors in art infrastructural facilities (AIF) area and operational risk management (ORM) area are considerable which are presented as research variables. The results suggest that in order to provide more security in e-banking transactions, banks have to create security policies such as internet security. In addition, they need to strengthen infrastructural factors in the fields like getting access to other banks, quality of infrastructure, and reserve bank of India (RBI) activity for e-banking supported systems.
Keywords
Electronic Banking. Security. Operational Risk Management. Art Infrastructural Facilities. Globalization
 K. Edge, R. Raines, M. Grimaila, R. Baldwin, R. Bennington, and C. Reuter, "The use of attack and protection trees to analyze security for an online banking system," in System Sciences, 2007. HICSS 2007. 40th Annual Hawaii International Conference on, 2007, pp. 144b-144b.
 S. Kesh, S. Ramanujan, and S. Nerur, "A framework for analyzing e-commerce security," Information Management & Computer Security, vol. 10, pp. 149-158, 2002.
 K. Chang, D.-K. Kim, and H. Yin, "Does Globalization Increase Bank Efficiency As Measured By Net Interest Margin," International Journal of Strategic Management, vol. 13, pp. 5-10, 2013.
 G. Varaprasad, R. Sridharan, and A. B. Unnithan, "Internet banking adoption by the customers of private sector banks in India," Banking, Finance, and Accounting: Concepts, Methodologies, Tools, and Applications: Concepts, Methodologies, Tools, and Applications, p. 43, 2014.
 M. Ula, Z. Ismail, and Z. M. Sidek, "A Framework for the governance of information security in banking system," Journal of Information Assurance & Cyber Security, pp. 1-12, 2011.
 M. Mallya, H. Kaur, and A. Chawla, "Role of Technology in Enhancing Quality of Customer Service in Banks," Vinimaya, XXX.(3), pp. 5-18, 2009.
 Y. K. A.-A. Migdadi, "The impact of banking sector reform in developing economies on banking transactions security and quality: the case of Jordan," International Journal of Services and Standards, vol. 9, pp. 37-50, 2014.
 S. M. Nsouli and A. Schaechter, "Challenges of the" E-Banking Revolution"," Finance and Development, vol. 39, pp. 48-51, 2002.
 S. J. Kobrin, "Territoriality and the Governance of Cyberspace," Journal of International Business Studies, pp. 687-704, 2001.
 M. A. Patton and A. Jøsang, "Technologies for trust in electronic commerce," Electronic Commerce Research, vol. 4, pp. 9-21, 2004.
 P. Devi, "Marketing of financial services in private sector banksbanks," 2013.
 T. C. Shan and W. W. Hua, "Service-Oriented solution framework for internet banking," International Journal of Web Services Research (IJWSR), vol. 3, pp. 29-48, 2006