A Gender wise Study on Privacy and Security in Digital Banking
Keywords:Banking, privacy, digital banking, cyber security, cyber risk
Banks have always been a place of trust for all: Young/old, Rich/Poor, Male/Female, Literate. The
concept of bank in India is that of a place where there are long ques for every activity and a huge
amount of paperwork is to be done for each transaction. However, due to the introduction of
technology in the banking sector, the scenario is not the same anymore; it has reduced the quantum of
paperwork for many banking activities and at the same time the footfall of the customers in the bank
has reduced, resulting in shorter or no ques in many banks. The main reason why people deposit their
money and other valuables in the bank is ‘Trust’. The trust that their money and personal data is safe
in bank. They are not worried about the transactions done through bank. Risk is a part of any
business and banking is no exception. However, the kind of risk faced by bank is a little different than
that of the other businesses. The risks faced by banks are mainly Systematic and Unsystematic in
nature. As said that every coin has two sides, so is the case of introduction of technology in banking,
it has given certain benefits in the banking process, however, it has increased the risk of Cyber
Security mainly in today’s world of Digital Banking. As a bank, the ability to find the best solution to
overcome the cyber risk which would ensure the safety of customer’s money/data would be the key for
the banks to stay and prosper in business by maintaining the trust of the customers. This study aims at
analyzing the privacy and security of the customers using digital banking. It also intends to examine
the gender wise customer perception towards the concerns and safety of the customers based on their
belief about the safety of their valuables/data.
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