ReferencesClayton, E.R. (2008). Information Management Security System. Advanced Management Journal, Vol.17(14): p. 58-63.

Saunders, M., Lewis, P., & Thornhill, A. (2009). Research methods for business students. Pearson Education: London.

Background & RationaleSecurity is one of the major concerns of digital banking. Digital banking dominates in the banking industry (Clayton, 2008, p. 59). While looking at the benefits of digital banking in the current technological landscape it is also important to pay attention to information security threats that can impact on the use of digital banking.

Research QuestionWhat are the information security threats that impact on digital banking within a financial institution?

Methodology & DesignThe study used a qualitative case study approach. The sample included employees and clients of a financial institution. Different methods were used for data collection from both groups including semi-structured interviews for employees in different departments at a financial institution and questionnaires for clients of the same financial institution. This was done so that the researchers could collect representative and reliable data (Saunders, Lewis and Thornhill, 2009, p. 123).

The findings are based on data collected from both groups, employees and clients. This was done with the purpose of determining the gap on the knowledge of information security threats between clients and employees. Phishing, profile cloning, virus/spam, and spyware were identified as potential threats in digital banking by clients and employees. The findings indicate how the threats in Figure 1 are rated by employees and clients of a financial institution. Employees and clients rated phishing as a security threat to be aware of most, whereas spyware is rated as a least security threat to be aware of by clients and employees.

Research Findings

Information security threats in digital banking

Clients & employees of a financial institution

Ratings

Phishing

Profile Cloning

Virus/Spam

Spyware

Threats

0% 10% 20% 30% 40% 50% 60%

Employees

Clients

Figure 1

Mr Mmako, Ms Mathebula & Prof Tanya du PlessisDepartment of Information & Knowledge Management | Contact: 0792635077/201207327@student.uj.ac.za

ConclusionThere are four main digital banking security threats identified by both clients and employees of a financial institution. The financial institution is facing a challenge of being able to deal with the digital banking security threats. A financial institution should always upgrade its systems to address new security threats.