Online Banking Transactions Research Articles

A Study on Green Banking Awareness of Customer's Perspective Concerning Tiruvallur District

In today’s business technology, banking is the backbone of each business, and technology plays a crucial role. The role of technology is dynamic speedily day to day, which additionally promotes the bank and monetary establishments. Bank is one of the very best monetary establishments that often explore the use and advantages of technology provided to customers through a range of services. Green banking could be a service that helps the client handle financial dealings or operations with the assistance of a Green device. Green devices include smartphones, tablets, etc. Green banking introduces the utilization of smartphone or alternative devices to control online banking transactions whereas remote from your laptop, portable computer, or other devices, like transferring cash from one account to a different account, electricity bill payments, gas bill payments, recharge Green, online looking, etc. Green banking is service that is additional by a bank or monetary establishments that enable to its customers to control monetary or banking transactions by victimization smartphone or tablets. Green banking is accessible 24*7 for patrons for financial transactions. The bank offered Green banking services to their customers to extend a lot of customers and take advantage of these services. Green banking is one of the world’s growing and quickest Green technologies during this paper analyzes the study of Green banking awareness of customer’s perspective for Tiruvallur District.

Proposing a Model to Enhance Security in Online Blockchain-Based Banking Transactions

In the banking industry, technologies are changing rapidly. The banking industry is the first target to implement the new technology to provide better customer services. In the past, banking systems used the manual ledger system, which has many drawbacks. To overcome this, the banking industry implemented the computerised mechanism to implement the centralised system, in which data is stored in one place, like a data warehouse. However, this centralised, automated system has also led to increased threats and cybercrimes. There are various malicious software (ransomware, phishing) through which hackers can hack customers' private data and use it illegally. The urgency to address these challenges has led to the adoption of blockchain, a leading technology based on decentralised, distributed behaviour and its public ledger system. Implementing blockchain in the banking sector is not just a choice, but a necessity. It can increase security, immutability, faster transactions, a decentralised system, consensus manner, transparency, etc. We will be discussing blockchain and its functionality. Furthermore, we will present a theoretical framework that uses consortium blockchain to reduce security threats in online transactions. Our model, IVSMOT, is a crucial step in this direction, as it divides the private key into two shares, thereby addressing the urgent need to enhance security in online banking transactions.

Principal–agent trust and adoption of digital financial services: Evidence from India

AbstractThe high reliance on cash is a lifestyle for many people, and their low proficiency with smartphone usage acts as an inertial barrier to using digital financial services (DFS). Given low financial or digital literacy, online banking transactions have to be promoted and mediated by DFS agents. This study examines the role of digital platforms, intermediaries such as banks, mobile money agents, payment banks, post offices, and the government's increasing use of digital technologies. This usage of digital platforms is based on the trust relationship between the principals, who are owners of their bank accounts, and agents of DFS, who are intermediaries. A linear probabilistic model is employed to determine the determinants behind the low adoption of DFS between the necessity and nonnecessity groups. We observe that demand‐side factors like education level, identity proof (documentation), and level of smartphone use proficiency increase the probability of a principal's involvement in a digital mode of payment. At the same time, supply‐side factors like digital infrastructure and trust deficit due to unviable commission incentives to DFS agents decrease the principal's likelihood of using digital platforms.

Exploring the Relationship Among Service Satisfaction, Motivation and Purchase Intention in Malaysia’s Online Banking

Customer satisfaction plays a vital role in service marketing, especially for online banking, due to the advancement of technology and the ease of online banking transactions. Recent studies have found that consumer motivation is crucial in capturing customer value and trust. Consumer motivation will affect consumer purchase intention. However, the scarcity of empirical evidence has inspired researchers to examine the relationship between consumer motivation, perceived service satisfaction, and purchase intention simultaneously in Malaysian online banking. Thus, the role of service satisfaction as a mediating variable in the relationship between consumer motivation (information influences, consumption patterns, and consumer involvement) and purchase intention was discussed in this paper. Data were collected from 250 online banking users through a self-directed questionnaire. All the data has been analyzed using partial least squares structural equation modelling (PLS-SEM). Findings confirmed the significant relationship between consumer motivation, perceived service satisfaction, and purchase intention. The results also indicated that perceived service satisfaction fully mediates the relationship between consumer motivation and purchase intention. Managerial implications were provided to guide online banking service providers on effective ways to retain their users through consumer motivation.

UNRAVELING THE NEXUS BETWEEN DIGITAL BANKING TRANSACTIONS AND BANK PROFITABILITY: INSIGHTS FROM TURKEY'S DEPOSIT BANKS

This study estimates the relationship between digital banking transactions and bank net profit through regression analysis using the data of deposit banks in Turkey between 2011 and 2021. The data from 11 Turkish banks are analyzed with the least squares method (OLS) in the Stata package program. For this purpose, the relationship between digital banking transactions and bank net profit is estimated by constructing three models. In the first model, online banking transactions have a positive effect on bank profitability. The number of internet banking customers, the number of Automated Teller Machine (ATM), and the number of Point of Sale (POS) are found to have a negative effect on net profit, but these coefficients are not statistically significant. In the second model, mobile banking transactions have a positive effect on bank net profit. ATM has a positive and statistically significant effect on bank net profit, while the number of POS has a negative coefficient on bank net profit, but this coefficient is not statistically significant. In the third and last model, the digital banking transactions have a positive effect on the net profit of the bank. ATM and POS numbers have a negative effect on bank net profit, but these coefficients are not statistically significant. In conclusion, both internet and mobile banking transactions have a positive effect on bank profits in Turkey. Digital banking transaction, which is a combination of internet and mobile banking transactions, is also found to have a positive effect on bank profits. Additionally, it has been revealed that internet banking services contribute more to bank profits than both mobile and digital banking services.

Enhancing fraud detection in banking by integration of graph databases with machine learning

The banking sector's shift from traditional physical locations to digital channels has offered customers unprecedented convenience and increased the risk of fraud for customers and institutions alike. In this study, we discuss the pressing need for robust fraud detection & prevention systems in the context of evolving technological environments. We introduce a graph-based machine learning model that is specifically designed to detect fraudulent activity in various types of banking operations, such as credit card transactions, debit card transactions, and online banking transactions. This model uses advanced methods for anomalies, behaviors, and patterns to analyze past transactions and user behavior almost immediately. We provide an in-depth methodology for evaluating fraud detection systems based on parameters such as Accuracy Recall rate and False positive rate ROC curves. The findings can be used by financial institutions to develop and enhance fraud detection strategies as they demonstrate the effectiveness and reliability of the proposed approach. This study emphasizes the critical role that innovative technologies play in safeguarding the financial sector from the ever-changing strategies of fraudsters while also enhancing banking security.•This paper aims to implement the detection of fraudulent transactions using a state-of-the-art Graph Database approach.•The relational graph of features in the dataset used is modelled using Neo4J as a graph database.•Applying JSON features from the exported graph to various Machine Learning models, giving effective outcomes.

Cyber Threats and Implications: A Study from the Perspective of E-banking

E-banking refers to electronic banking. E-banking is a generic term for the delivery of banking services and products through the electronic medium. Internet banking allows a customer to perform banking transactions without visiting physically to the bank. At present, E-banking system is widely accepted because cost of transactions and cost of delivering in E-banking are significantly lower than in the traditional banking system. At the same time, E-banking enables to increase the efficiency of a banker that lowers the cost of operation. In India, the share of transaction volume was 15.6 per cent in the year 2020, whereas online payments and other electronic activities were registered 22.9 per cent in the same year. It is expected to reach 71% by 2025. Digitization is expanding and advancing forward in banking sector. While challenges are also mounting in securing the online banking transaction and financial information. E- banking shoulders to get the work done easier and fast. But simultaneously cybercrime paved the way for itself and has become a security threat. The study mainly emphasizes on cyber frauds in bank, online transaction, challenges in e-banking, impact of cybercrime. It also offers ample of useful suggestions on cyber security to avoid e-banking fraud.

Influence of Digital Bank Services on the Financial Performance of the Commercial Banks

It is anticipated that the adoption of digitalization in Pakistan's banking industry will have an impact on how banks formulate financial services and products as well as how well these banks operate. This paper attempted to analyse the impact of the digital banking on Pakistani commercial banks' financial performance in order to achieve this goal. Quantitative research approach was utilized. Commercial banks were the target population of this research. There were 200 responders from Pakistani commercial banks in the sample. The study employed multiple regression analysis to examine how digital banking affects financial performance. According to this research, Pakistan's commercial banks' growing profitability was mostly because of an increase in digital customer deposits made through digital banking platforms. The research findings indicate that there was an rising trend in the ratio of digital bank transactions to total assets over the chosen study period. The overall percentage of assets while growing due to a further increase in information technology expenses, fees, and commissions. The research findings indicated that an increase in online banking transactions was favourably and strongly correlated with profitability. To boost digital banking and boost commercial banks' financial performance, the report advises bank management to improve it.

Awareness On Online Financial Scams: A Case Study in Malaysia

Malaysia has seen an increase in digitization in almost all aspects of its people's daily lives, especially in the usage of online banking or e-wallet transactions. However, a rise in online financial scams in Malaysia has been reported recently. People have become unaware of the transparency of their information as a result of their reliance on the Internet. This study aims to identify the awareness on online financial scam in Malaysia using the Technology Threat Avoidance Theory (TTAT) and Theory of Planned Behavior (TPB). Independent variables included are cybersecurity knowledge, perceived severity, subjective norm, as well as security and privacy concerns. The data collection method in this study is primary data and 384 sets survey questionnaires were collected. Partial Least Square Structural Equation Modelling (PLS-SEM) software was used to generate the statistical analysis. The results showed that cybersecurity knowledge, perceived severity, and subjective norm have a significant relationship with the awareness on online financial scam, while security and privacy concerns have an insignificant relationship with the awareness on online financial scam. This study will provide an insight for Malaysians, particularly companies, and policymakers so that they can better understand the ways to increase awareness on online financial scam.

A Proposed Framework for Improving Online Banking Transactions Using Blockchain

A Proposed Framework for Improving Online Banking Transactions Using Blockchain

How does digital payment transform society as a cashless society? An empirical study in the developing economy

Purpose After analyzing these uncountable benefits of digital or cashless payment, many European countries like Sweden, Finland and Canada has been trying to convert their payment system into cashless. Following these developed countries, the Bangladesh Government has taken a decision to transfer society as a cashless society by using information technologies for adopting the fourth industrial revolution over the world. Digital payment system is among the various options available for transforming a cashless society. First, this empirical study presents demographic information and digital payment characteristics on the basis of income levels. This study identifies influential factors of adopting digital payment systems. Finally, this study aims to justify how digital payments transform the Bangladeshi economy into a cashless society in developing countries. Design/methodology/approach The study was administered to a sample of 1,000 Bangladeshi customers who had engaged in online banking transactions for the purpose of acquiring items and services through both social media platforms in Google Form format and face-to-face interactions in hard copy format. Among these, 647 questions were deemed usable and were used for data analysis, where the response rate was 68%. The SmartPLS is used to create and validate the structural equation modeling model presented for the research, as well as to evaluate the hypothesized correlations between the different constructs. Findings This cross-sectional study conducted the extended technology acceptance model (TAM) with perceived security (PS) and personal innovation (PI) variables to identify the influencing adoption factors of digital payment systems. This study finds that perceived ease of use, PI and perceived usefulness have a favorable impact on individuals’ attitudes toward adopting digital payment methods (DPMs). The study also indicated that PS did not influence negatively the adoption of digital payment system. Besides this, the adoption of digital payment will help to transform society into a cashless society in the future. Research limitations/implications Increasingly prevalent across the nation. Several variables are required to facilitate the transition toward a cashless society. This study exclusively focuses on DPMs. Additionally, the data has been obtained exclusively from a single urban area. The adoption of DPMs has become increasingly prevalent across the nation. Practical implications This study would help policymakers, marketers and bankers understand which factors affect digital payment infrastructure expansion. So, they can produce digital payment apps that are compatible with different devices, have fast transactions, are user-friendly, easy to use and highly secure to maintain good attitudes toward digital payment systems. Social implications Few studies have examined how DPMs affect cashless societies in developing countries like Bangladesh. According to researchers, to the best of the authors’ knowledge, this is the first study to explore how digital payments affect cashless society in Bangladesh and raise awareness about it. Originality/value The study extended the TAM model to PS and PI. This paper is also unique in the conceptual arguments and the subject theme of the research area.

Impact of Retail Payments’ Digitalization on Indian Economy: A Critical Appraisal

Technological innovations in the Indian banking sector brought tremendous change in the way banking transactions are carried out by firms and individuals. Besides the benefits like convenience, speed and, access, events such as demonetization and covid outbreak fuelled the growth of online banking transactions even more in India. Based on the payment statistics in 2020, the share of instant payments and other electronic payments accounted for nearly two-fifth of all payments and it is estimated to grow to 71.7% by the end of 2025. The present study aimed at analysing the impact of digital payments on Indian economic growth based on the quarterly observations during the period FY 2015-16 to FY 2020-21. The results showed the existence of a long-run association and a short-run association between Gross Domestic Product (GDP) and retail digital payments.

Scrum Maturity Level Evaluation and Improvement Recommendation: Case Study on ABC Application

Bank XYZ, one of the digital banking in Indonesia, has a digital product ABC for customers to complete online banking transactions. Bank XYZ uses Scrum as the methodology to develop ABC. Several problems were found in the process related to the delay in the release process. The achievement of sprint goals from May to December 2021 is only 6%. This fact allegedly caused some frequent release delays. To resolve the root causes, mixed-method research was conducted to provide recommendations for improving the implementation of Scrum. The Scrum Maturity Model questionnaires were distributed to several Scrum teams, followed by interviews with several roles that were used to validate the results. The key process area rating formula of the Agile maturity model was used to decide the maturity level. After the maturity level result was obtained, recommendation practices were generated from the not well-implemented practice. This case-based research shows that Bank XYZ reached maturity level 2 for ABC development. Bank XYZ has implemented 78 out of 79 practices, however, 28 practices need improvement and one practice needs to be applied. Objectives of maturity levels group recommendation practices. The combination of Scrum best practices and empirical practices from previous research generated those practices. This research was intended to give general recommendations on how to improve Scrum implementation and on how to resolve release time problems by enhancing Scrum in Bank XYZ empirically.

Penggunaan dan Kepuasan Nasabah Terhadap Layanan E-Banking di BSI

Currently, banks have issued a service called Electronic Banking (E-Banking). Where one of the services of E-Banking is Internet Banking which functions as an alternative to conducting banking transactions online using the Internet. Internet Banking makes it easier for customers to do online banking transactions, both financial transactions and non-financial transactions, except for making deposit transactions or cash withdrawals. But when using Internet Banking services, is there control or a chaotic system? Therefore, this article explains the reasons why customers use E-Banking services, the benefits perceived by customers, what are the obstacles faced by customers and suggestions or input on BSI E-Banking. Then in this article also provides an explanation of the experience of using E-Banking by customers. This article also explains the advantages and disadvantages of the E-Banking system. So that bank customers who wish to use Internet Banking services gain knowledge and can choose a bank that provides better and safer Internet Banking service security and can reduce disturbances in the E-Banking service system

ONLINE BANKING SECURITY WITH REAL TIME FACE RECOGNITION APPROACH

Online banking has become an essential part of modern banking. Many attacks are successful in accessing social network accounts since the current password-based authentication paradigms are not efficient and robust enough as well as vulnerable to automated attacks. The simplest alternative is complementing the single factor (password-based) authentication process with additional identification elements, such as one-time PIN codes, generated by the user’s own device (e.g., the smartphone) or received via SMS. To improve the security of online banking transactions, real-time face recognition technology can be used as a biometric authentication technique. This technology provides a reliable and convenient way of verifying the identity of customers in real-time. The aim of this project is to develop an online banking system that uses real-time face recognition technology for customer authentication. The system will be designed to provide a secure and user-friendly interface that allows customers to carry out banking transactions such as funds transfer, bill payments, and balance inquiries. The system will incorporate a Grassmann Learning algorithm that is capable of capturing and analyzing a customer's facial features in real-time. The algorithm will compare the facial features of the customer with those in the bank's database to verify the customer's identity. Second level verification based on OTP verification in reverse order. The system will provide a secure and user-friendly interface for customers to carry out banking transactions in real-time. In this proposed net banking application notifications are sending to the user regarding banking interface access and amount transaction.

Application of Artificial Intelligence for Fraudulent Banking Operations Recognition

This study considers the task of applying artificial intelligence to recognize bank fraud. In recent years, due to the COVID-19 pandemic, bank fraud has become even more common due to the massive transition of many operations to online platforms and the creation of many charitable funds that criminals can use to deceive users. The present work focuses on machine learning algorithms as a tool well suited for analyzing and recognizing online banking transactions. The study’s scientific novelty is the development of machine learning models for identifying fraudulent banking transactions and techniques for preprocessing bank data for further comparison and selection of the best results. This paper also details various methods for improving detection accuracy, i.e., handling highly imbalanced datasets, feature transformation, and feature engineering. The proposed model, which is based on an artificial neural network, effectively improves the accuracy of fraudulent transaction detection. The results of the different algorithms are visualized, and the logistic regression algorithm performs the best, with an output AUC value of approximately 0.946. The stacked generalization shows a better AUC of 0.954. The recognition of banking fraud using artificial intelligence algorithms is a topical issue in our digital society.

Security Threats to Privacy Data of Malaysian Youth’s: Online Transaction and Communication

The new norms during the COVID-19 pandemic contributed to the increased usage of the online medium. The International Labour Organization (ILO) reports that millions of people were forced to stay at home during difficult situations (2020). Both the government and corporate sectors are changing the landscape of their services to online services. Apart from its benefits, the rapid adoption of technology also increases the risk of data breaches among individuals' personal information. This article focuses on the intention factor as a motivation to protect the security of personal data among the youth. A total of 535 respondents in the range of 19 to 30 years old from Putrajaya and Cyberjaya. They are randomly selected using a multistage cluster sampling method. A set of questionnaires were distributed online during the Movement Control Order (MCO) that hit all over the world including Malaysia. To analyse factors affecting the Malaysian youth in protecting the security of personal data the multiple linear regression analysis was applied. This article reports the intention factor has a dominant influence in motivating Malaysian youth to protect the security of their data. Additionally, findings showed that family connection and online banking transactions as the main factors in using online compared to other motives measured in this study. Therefore, Malaysian youths should be given the knowledge and awareness to keep on vigilant and protect their data security. Their motivations need to be nurtured to ensure that Malaysian youth’s personal data remain protected even if they are actively interacting online. Keywords: Intention, threat assessment, coping skills, data privacy, youth, online.

Phishing Website Detection using Machine Learning

Phishing is a common attack on credulous people by making them to disclose their unique information using counterfeit websites. The objective of phishing website URLs is to purloin the personal information like user name, passwords and online banking transactions. Phishers use the websites which are visually and semantically similar to those real websites. As technology continues to grow, phishing techniques started to progress rapidly and this needs to be prevented by using anti-phishing mechanisms to detect phishing. Machine learning is a powerful tool used to strive against phishing attacks. In this article, we proposed 5 different algorithms in machine learning to analyse the URLs. The accuracy of the Existing method is approximately 94%, and we have implemented it as 95.235% in the Proposed method. Here we used 5 classifiers which are Random Forest Classifier, AdaBoost Classifier, XGBoost Classifier, Support Vector Machine, Gradient Boosting Classifier. Among all these Classifiers, Random Forest Classifier gives the highest accuracy.

Restructuring of Indian Economy: Digital Transformation of Banking Sector

In the Indian economy, public sector banks are considered the backbone of the economy and now more than ever, private companies are entering the fray. This is great news for many customers, as customers are offered an expanded menu of savings and loan products and innovative services like online banking and easier transaction methods are being introduced. Banking system is an important aspect of every country's economy. Public Banks make transactions easy and efficient. The Indian banking sector has been experiencing a wave of change over the past decade. The growth in mobile banking and biometrics has affected the traditional business model of banks to some extent. However, most banks have shown tremendous resilience to these changes through adaptability and innovation. Advances in banking technology lead mobile banking to bring banking into the digital age: on the one hand, this duality between digitization and human factors is reflected in the banks' multichannel strategies. Accordingly, society's trust in the use of digital tools and processes in the economy has increased.

Value Creation of Mobile Usage amongst Generation Z in Delhi and Pune

A mobile gadget in hand is no more merely a simple device used for communication today but it has become an extension of every individual personality and lifestyle. These wireless gadgets have multi-purpose use such as for telephonic interactions, for expressing ones opinions, beliefs, emotions, for self-entertainment, for online shopping, for online banking transactions, travel bookings etc. Mobile phones are not merely a fad but its transforming the way millions of people do business or use it as a tool to enhance their market reach. As per Indian Brand Equity Foundation Report (IBEF), the Indian Telecom Industry with total 110.01 million connections is the fifth largest in the world and is growing rapidly. Metropolitan areas constitute major share of the telecom subscriptions at 60 percent and the balance being at the rural level. Whether population is living in rural or urban settlements, educated or not educated, demographics across varied age groups are reliant on mobile phones and cannot seek their existence without the same. With the government fair and proactive regulatory framework, low – priced handsets, aggressive marketing strategies, telecom services have been made available to the masses at much reasonable prices. Telecom Industry is the highest employment generator in the country. Penetration of these wireless broadband services has further extended the reach of the internet across geographical boundaries. India is experiencing a transition from desktop internet access to an “on-the-go” experience. The emerging wave in the Indian Telecom Industry is the Third Generation and Fourth Generation technology. The technology is intended for Smartphones which is a multimedia phone handset with a high density screen resolution that is an upgrade over the computer with plentiful features and applications that are driving the mobile industry such as camera, audio – video, internet surfing, voice calls, messaging, emails, microsoft office and other mobile applications. The name ”Smartphone” refers to improvements in the speed, ease and convenience in data transfer over the Internet, portability and wireless connectivity that has led to the popularity of such portable hand devices.