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Building security and trust in online banking

Published: 02 April 2005 Publication History

Abstract

Growing threats to online banking security (e.g. phishing, personal identify fraud) and the personal nature of the data make the balance between security, trust and usability vital. However, there is little published research about what influences users' perceptions of online banking security and trust. This study identifies that the type of authentication system used can affect users' subsequent perceived control, situational awareness and trust. The results from a questionnaire and in-depth interviews with 86 participants were triangulated to compare two different authentication processes, namely, a 'security box' (i.e. random system generated passwords at the users' location) and 'fixed passwords' (i.e. user owned and constant). The security box and login procedures were perceived significantly more trustworthy and secure at any location than 'fixed passwords'. Four main concepts were identified: "trust" "the authentication system", "location" and "control". The implications of these findings for HCI are discussed.

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  • (2023)Leveraging Zero-Trust Architecture for Improving Transaction Quality of Financial Services Using Locational DataAdvances and Applications of Artificial Intelligence & Machine Learning10.1007/978-981-99-5974-7_60(751-763)Online publication date: 15-Nov-2023
  • (2023)Authentication of IT Professionals in the Wild – A SurveySecurity Protocols XXVIII10.1007/978-3-031-43033-6_5(43-56)Online publication date: 21-Oct-2023
  • (2022)Dynamic Extraction of BERT-based Embeddings for the Detection of Malicious JavaScriptProceedings of the 32nd Annual International Conference on Computer Science and Software Engineering10.5555/3566055.3566068(110-119)Online publication date: 15-Nov-2022
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    cover image ACM Conferences
    CHI EA '05: CHI '05 Extended Abstracts on Human Factors in Computing Systems
    April 2005
    1358 pages
    ISBN:1595930027
    DOI:10.1145/1056808
    Permission to make digital or hard copies of all or part of this work for personal or classroom use is granted without fee provided that copies are not made or distributed for profit or commercial advantage and that copies bear this notice and the full citation on the first page. Copyrights for components of this work owned by others than ACM must be honored. Abstracting with credit is permitted. To copy otherwise, or republish, to post on servers or to redistribute to lists, requires prior specific permission and/or a fee. Request permissions from [email protected]

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    Published: 02 April 2005

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    Author Tags

    1. e-commerce
    2. online banking
    3. situational awareness

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    Cited By

    View all
    • (2023)Leveraging Zero-Trust Architecture for Improving Transaction Quality of Financial Services Using Locational DataAdvances and Applications of Artificial Intelligence & Machine Learning10.1007/978-981-99-5974-7_60(751-763)Online publication date: 15-Nov-2023
    • (2023)Authentication of IT Professionals in the Wild – A SurveySecurity Protocols XXVIII10.1007/978-3-031-43033-6_5(43-56)Online publication date: 21-Oct-2023
    • (2022)Dynamic Extraction of BERT-based Embeddings for the Detection of Malicious JavaScriptProceedings of the 32nd Annual International Conference on Computer Science and Software Engineering10.5555/3566055.3566068(110-119)Online publication date: 15-Nov-2022
    • (2022)Usable and secure? User perception of four authentication methods for mobile bankingComputers & Security10.1016/j.cose.2022.102603(102603)Online publication date: Jan-2022
    • (2020)Security perception of e-banking users in India: an analytical hierarchy processBanks and Bank Systems10.21511/bbs.15(1).2020.0215:1(11-20)Online publication date: 13-Feb-2020
    • (2020)Too Much Information: Questioning Security in a Post-Digital SocietyProceedings of the 2020 CHI Conference on Human Factors in Computing Systems10.1145/3313831.3376214(1-14)Online publication date: 21-Apr-2020
    • (2019)On Online Banking Authentication for All: A Comparison of BankID Login Efficiency Using Smartphones Versus Code GeneratorsUniversal Access in Human-Computer Interaction. Theory, Methods and Tools10.1007/978-3-030-23560-4_27(365-374)Online publication date: 3-Jul-2019
    • (2017)Transmission and control for QKD in online banking systemsJournal of Enterprise Information Management10.1108/JEIM-08-2014-008430:3(526-532)Online publication date: 10-Apr-2017
    • (2014)Security and usability of authenticating process of online banking: User experience study2014 International Carnahan Conference on Security Technology (ICCST)10.1109/CCST.2014.6986978(1-6)Online publication date: Oct-2014
    • (2014)Social and Q&A interfaces for app downloadInformation Processing & Management10.1016/j.ipm.2014.02.00550:4(584-598)Online publication date: Jul-2014
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