Improving Security in Cashless Application
Objectives of the Study
To proffer an appraisal on improving security in cashless application
CHAPTER TWO
LITERATURE REVIEW
Introduction
This section discusses literature analysis on cashless application, cyber threats and cybercrime. The literature is reviewed from journals, reports, periodicals and books. Literature review provides basis and insights into relevant previous research and developing trends. (Saunders, Lewis & Hill, 2000). It present theoretical views and ideas of the earlier research that has been done in the same field.
Theoretical Literature Review
This segment provides insights about theoretical foundation and models that support the study. This study will use game theory, diffusion of innovation and technology acceptance theory as a basis of analysis. These theories and model will provide clear link connecting dependent variables and independent variable as earlier researched by scholars.
Game Theory
This theory was introduced by Neumann and Morgenstern, (1944).The theory further states that in order to achieve fully dependable security system, there need to permit decision taken by a single component to consider the policies of all the other related mechanism in the network. It was later advanced by Osborne and Rubinstein, (1994) to incorporate multi- agent decision making. Most researchers have applied a stochastic means to prototype network security situations to develop security frameworks (Lye 2005), formation of strong network systems (Wu 2010), and intrusion discovery schemes (Alpcan, 2006).
Game theory comes in handy when model and analyze search large space which involve numerous challenging scenarios. This theory has the ability to examinea thousands of possible circumstances before engaging in favorable action; henceforth, it can complicate the decision making process of the network administrator to a huge scope. (Shiva and Sankardas, 2010).
This theory is relevant to the study since it can be used to the analyze multi scenarios by systems administrators, managers and network experts to formulate strategies and control measures protecting the systems and reducing system vulnerability. Game theory alone cannot be used to analyze the entire security issue since it majorly focuses on network system hence the need to focus on other theories such as Diffusion of innovation theory.
Diffusion of Innovation Theory
This theory was originated by Rodgers in 1962 after empirically analyzing more than 508 studies on technology diffusion across various fields. In line with this theory, the decision to take up innovations is determined by five issues regarding the features of the innovation. These are the perceived usefulness, matching needs, intricacy, testability and visibility with the social system adopting the technology (Rogers (2005, 2003).
According to Rogers (1962) the Diffusion of Innovations (DoI) Theory was as a result of contributions from the pioneering efforts in the implementation of innovations. The theory also holds that the adopters can be clustered into several categories namely innovators, early adopters, early majority, late majority and laggards. Importantly, the theory holds that customers in the innovation adoption phases differ dramatically in their features.
In the initial stages of diffusion, the invention typically taN an S shape. The phases alongside the innovation route are associated by the determinations of the innovator to acclimate a technological development for conversion into an innovation product.(Easing wood, 1988).According to Rogers’ adopters of any fresh idea could be classified as innovators, primary adopters, early mainstream majority, late majority and laggards.
In the proposed study how the bank managers, employees and customers perceive the five salient features identified to indicate reliable determinants of acceptance and use of electronic banking in local banks. Further, within the banks in Nigeria not all banks adopt the e- banking technology and those that adopt do not adopt at the same time as per the theory. In-line with this theory, the decision to take up innovations is determined by five issues regarding the features of the innovation. These are the perceived usefulness, matching needs, intricacy, testability and visibility with the social system adopting the technology.
Technology Acceptance Model (TAM)
TAM was originated by Davis (1989). The theoretical perspective proposes that the connection between users’ acceptance of any innovative and the users’ supposed ease of use and convenience of such innovation. The TAM perspective suggests that for any new technology, several issues determine the decision about how and when the technology will be used. These issues include the perceived usefulness and how easy to use is it perceived. (Davis 1989). TAM was developed after several tests by Venkatesh and Davis (2000).
Legris, Ingham & Collerette (2003) did prove that TAM is a theoretical model that can help explain and predict user behavior of information technology. Sabi (2014) also found out that the TAM theoretical perspective is a reliable and was the most applied theory as evidenced by thirty one articles or sixteen percent out of the one hundred and eighty eight articles reviewed. In the context of the study, the theory is relevant because it’s a factor by which the adoption of e-banking by local banks can be rationalized. User behavior on newly introduced information systems is a key factor in its adoption. In this study we shall conduct a research to find out the percentages of customers enrolled for cashless application in Nigeria this will determine the association between the expediency of information systems and the users’ perceptions.
CHAPTER THREE
RESEARCH METHODOLOGY
Introduction
This chapter contained the methods that were used to collect and analyze research data. It further contains sub-sections; research design, study population, the cross section procedure, and procedures for data collections and data analysis methods. This chapter provided study framework on the key areas under focus.
Research Design
A research design is defined as method of careful selection of methods used to answer the research questions and solve the research problem. According to Creswell et al (2007), research designs are the procedures for collecting, analyzing, interpreting and reporting data in research studies. This study will adopt a cross-sectional survey across the commercial banks in Nigeria and the data obtained will be used analyzed in line with the objectives of the study. A cross-sectional survey as a research design will be used to observe a defined population at a given time (Malhotra, 1996). In the study the researcher will obtained data from 41 commercial banks. A questionnaire will be administered to the ICT heads and cashless application managers.
CHAPTER FOUR
DATA ANALYSIS, RESULTS AND DISCUSSIONS
Demographic Information
The sought to find the demographics information of those who participated in the interview so as to rationalize the validity of data collected from 31 respondents for substantiation purposes. It contained respondents’ facts as captured on the questionnaires regarding risk managements, staff competencies and ICT infrastructure strategies with regards to cyber security measures. In order to show the effectiveness of cyber securities strategies verses cashless applications in Nigeria, demographics information was considered important.
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATIONS
Introduction
This chapter looks at the outcome and the findings from the study presented in chapter four. This entails the rationale of the study, research objectives and methodology applied discussed in details. Later in this chapter research summary has been given with the research question given linking key variable discussed in an attempt to answer the question about the effects of cyber securities strategies that affects cashless applications within the commercial banks in Nigeria. Brief discussion conclusion and recommendations for further development are then presented.
Summary
The main objective of the study was to find out the effects of cyber security strategies on cashless applications in Nigeria precisely on Commercial Banks. The study addressed the objective.
To find out the effects of cyber security strategies on cashless applications within Commercial Banks in Nigeria
The research design used was descriptive in nature. Data was therefore collected from 42 responses from ICT staffs and staff managing cashless application. To select the respondents for this study, it was agreed that head of ICT department within each commercial bank was interviewed and where he/she was unavailable, a representative was interviewed. Data gathered from primary sources were edited, assigned codes, analyzed using Microsoft Excel and SPSS software, and finally interpreted into meaning forms. This was then presented in the form of pie charts, percentages, figures, tables and bar graphs.
Conclusions
To Determine the Level of preparedness in terms of Cyber Security on Commercial Banks in Nigeria.
The study exposed that policies indeed plays a critical role as far as cybercrime is concerned. Most to the respondent fully agreed that the availability of those properly formulated and documented policies that helped their bank overcome cases of cyber- attacks, the statistics clearly show that commercial banks have a clear understanding the concepts cybercrime and its impacts in the banking industry, and the need to safeguard themselves through their behaviors.
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