Research report

Project title

Some[MG2] problems about internet banking and consumers perspectives on internet banking[MG3].

Introduction

Similar to the adopting of automatic teller machine, pay attention to economics change , coupled with advancements in technology, banks begin to think their use of traditional branches again and are looking at online banking services as the next new technology to reduce costs while maintaining or enhancing services to the customer[MG4]. However, whether all of people want to use internet banking[MG5]. A series of factors, such as the security of personal data, the difficult of using the internet and others are sure to play an important role in consumer’s attitude to internet banking. In this paper[MG6], i try to investigate the factors that affect an individual’s decisions to use online services and some problems that internet banking[MG7] has met by far.

Critical Review of literature

Security for internet banking[MG8]

While it is acknowledged that Australian banks have a great record related to security of customer information, surveys shows that individual who using internet banking are weary about privacy issues such as data or code collected by hackers, whether personal information could be disclosure and use. Therefore, security is a big issue and it should be focus on. And haw to solve decrease the risk of security?

According to NOIE[MG9], the security protections offered by banks and which customers participate should include

1. careful reference to their Web sites in their publication
2. Verification by the use of digital certificate
3. Evidence of security protection displayed on the screen
4. Protections of PINs and passwords
5. On-screen and mouse operated keypads for sensitive information
6. Virus protection
7. At least 128-bin encryption
8. Firewall implementation
9. Stated limits to customer liability for unauthorised use of access codes

In fact, the security framework has been investigated[MG10].

According to Labuschange[MG11], a developed framework for security is consists of a defined six-step process.

Step1. List all the security requirements for an internet banking environment in general.

Step2. Identify all participants and stakeholders involved in the internet banking process.

Step3. Break down transaction into different autonomous actions.

Step4. Map these identified actions on to the participants involved, which serve as o model for the internet banking.

Step5. Use the information obtained in step 4 to determine the security requirements for a secure internet banking environment.

Step6. Use these security requirements to develop the security architecture, comprising suitable security procedures, mechanisms and policy[MG12].

And it also[MG13] says Internet banking including three main areas of security which are the the user’s computer, banks and the internet ,

Actually, i think mobile should also put into because nowadays , mobile phone is also a functional devices which can also conduct many applications including e-banking. And many hackers have transfer their attention to the mobile[MG14].

Individual’s perspectives on internet banking

Above all, we can see that the security of internet play an important role on people’s decision to choose internet banking. However, if it is the most important reason which affect people to use internet banking and if people still trust internet banking[MG15].

Actually, the following table embedded within the trust model can ensure the perspective of an individual about the issue of trust .