The Effectinenessof E-Banking Security Practices in Providing Secure Service to Clients in Tanzania

Abstract

ABSTRACT In an era of escalating digitalization, electronic banking (e-banking) has gained paramount importance in the financial sector, offering unmatched convenience and accessibility to financial services. However, the rapid expansion of e-banking services has raised significant security concerns. This study aims to assess the effectiveness of e-banking security practices in safeguarding clients in Tanzania by examining current security measures employed by banks, evaluating client awareness of e-banking security, assessing the efficacy of security measures in protecting financial information, analyzing the impact of security breaches on client trust, and proposing recommendations for system enhancement. Utilizing a mixed-methods approach with 347 participants drawn from Bank X's employee pool, the thematic and descriptive analysis will be used to finalise results from the gathered data. This research will yield critical insights into the state of e- banking security, contributing to its improvement and ensuring clients' financial well-being. The research will contribute valuable insights into the current state of e-banking security in Tanzania, identifying strengths and weaknesses in existing practices. Additionally, the findings will inform recommendations for enhancing the effectiveness of security measures, addressing potential vulnerabilities, and ensuring a more secure e-banking environment for clients in the Tanzanian financial sector. The outcomes of this study are expected to benefit banks, regulatory bodies, and policymakers in formulating strategies to fortify e-banking security and foster greater trust in digital financial services. vii