A Study on the Influence of Cybersecurity Threats and Risk On the Adoption and Growth of Digital Banking
Keywords:
Digital Banking Cybersecurity Challenges Cybersecurity Threats Digital Banking Adoption Data PrivacyAbstract
Digital banking has grown into an essential part of the modern financial system by providing convenient, fast, and accessible digital financial services. such as mobile applications and online banking systems. The rapid growth of digital banking is supported by advancements in technological along with increased mobile internet accessibility, and the Demand for cashless financial services. However, the increasing use of digital banking has also resulted in cybersecurity challenges such as phishing, fraud, data breaches, malware attacks, identity theft, and unauthorized access, which affect customer trust and confidence. This study examines the influence of cybersecurity threats and risks on the adoption and growth of digital banking services by analyzing factors such as data privacy, cybersecurity awareness, authentication security, technical reliability, and third-party application risks. The study follows a descriptive research design and collects primary data through a structured questionnaire from 110 digital banking users in Bangalore. Regression analysis is used to study the effect of cybersecurity factors on digital banking adoption. The findings reveal that cybersecurity awareness, secure authentication methods, and reliable banking systems positively influence customer trust and digital banking usage, while security concerns related to fraud and data privacy remain major challenges. The study concludes that strengthening cybersecurity measures, improving customer awareness, and implementing effective security Strategies are Vital for ensuring safe adoption and sustainable growth of Digital Banking services.
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