Abstract:
The rapid development of mobile technology has resulted
in the domination of mobile devices as the main channel
through which people conduct most of their day-to-day
activities. Several financial institutions are incorporating
mobile banking and financial services as a key
component of their growth strategy. However, the
increasing capabilities that mobile technology offers have
brought about a large number of security challenges to
mobile banking. This calls for the need to equip financial
institutions with a framework for assessing how secure
the mobile banking services they provide are. Survey
research design was carried out to determine the cybersecurity challenges to mobile banking experienced in
SACCOs in Kenya and the approaches used to minimize
their impact to mobile banking service provision by
SACCOs were evaluated. The study determined the
cyber-security challenges to mobile banking. It also
evaluated ways in which SACCOs ensure user perceived
secure mobile banking service provision. A user
perceived secure mobile banking service provision
framework was proposed based on the findings. The
proposed framework was put on test using experts and
was found to be highly reliable. The framework provides
means by which SACCOs can assess how user perceived
secure the services they provide to their clients are.
