Design of a Secure Mobile Banking Platform for University Students in Federal University, Birnin Kebbi, Kebbi State
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Background of the Study
In recent years, mobile banking has become an essential service, especially for university students, who require secure, convenient, and efficient ways to manage their finances. Mobile banking platforms offer students the ability to carry out various financial transactions such as bill payments, money transfers, and checking balances without the need to visit physical banks. However, while mobile banking offers great convenience, security concerns such as identity theft, phishing attacks, and unauthorized access remain a significant threat. Federal University, Birnin Kebbi, like other academic institutions, has seen a rise in the adoption of mobile banking services by students. However, the lack of a secure mobile banking platform tailored specifically for university students leaves these users vulnerable to cyber threats.
The proliferation of mobile devices, coupled with increasing financial transactions being carried out via smartphones, makes the need for a secure mobile banking platform even more pressing. According to a 2023 study by Adetunji et al., mobile banking fraud cases are rising in Nigeria, with students being a significant target due to their lack of cybersecurity awareness and the high frequency of mobile phone usage. Mobile banking platforms face challenges such as weak authentication mechanisms, insecure data transmission, and insufficient encryption measures. Additionally, the vulnerability of mobile devices to malware and other malicious software further exacerbates the need for a robust security framework in mobile banking platforms.
In the context of Federal University, Birnin Kebbi, there is a distinct need to design a secure mobile banking platform that caters specifically to the needs of students, protecting them from potential financial risks while ensuring their convenience and ease of access. The goal of this study is to design a mobile banking platform with advanced security features, such as multi-factor authentication (MFA), end-to-end encryption, and real-time fraud detection, to ensure the safety of financial transactions for university students.
Statement of the Problem
While mobile banking has become indispensable for university students in managing finances, the security of these platforms remains a concern, especially in Federal University, Birnin Kebbi. Many students face risks such as unauthorized access, fraud, and data breaches due to weak security measures in current mobile banking platforms. The absence of a specifically designed platform that meets the unique needs of students in terms of usability and security makes them more vulnerable to cyber threats. Moreover, existing platforms often lack advanced authentication and encryption methods, leaving students’ sensitive financial data exposed to cybercriminals.
The increasing dependency on mobile devices for financial transactions without proper security mechanisms can lead to financial losses and breaches of personal privacy. This study seeks to address these issues by designing a mobile banking platform specifically tailored to the needs of university students, with a focus on enhanced security features that protect users from potential cyber attacks and fraud.
Objectives of the Study
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To design a secure mobile banking platform that addresses the unique needs of students at Federal University, Birnin Kebbi.
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To incorporate advanced security features such as multi-factor authentication (MFA) and end-to-end encryption into the mobile banking platform.
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To evaluate the effectiveness of the designed mobile banking platform in ensuring secure financial transactions for students.
Research Questions
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What are the existing security challenges faced by students in using mobile banking services at Federal University, Birnin Kebbi?
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How can a mobile banking platform be designed to incorporate advanced security features for university students?
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How effective is the designed mobile banking platform in protecting students from cyber threats such as unauthorized access and fraud?
Significance of the Study
This study is significant in addressing the increasing need for secure financial transactions in university settings. By designing a mobile banking platform that incorporates advanced security features, the study will enhance the financial security of students, reducing the risk of cyber fraud. It will also contribute to the body of knowledge in mobile banking security, particularly in university environments. Furthermore, the findings can be used by university administrators and financial institutions to develop more secure platforms and policies tailored to students' needs.
Scope and Limitations of the Study
The study will focus on the design and evaluation of a secure mobile banking platform for students of Federal University, Birnin Kebbi, Kebbi State. It will address security concerns such as data encryption, multi-factor authentication, and fraud detection. The study is limited to the university campus, and does not extend to the broader population of mobile banking users outside the university context. Constraints such as limited access to real-world transaction data and user behavior may affect the scope of the evaluation.
Definitions of Terms
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Mobile Banking Platform: A mobile application or service that enables users to perform financial transactions such as transferring funds, paying bills, and checking account balances via smartphones or other mobile devices.
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Multi-Factor Authentication (MFA): A security mechanism that requires users to provide multiple forms of authentication to verify their identity, typically involving something they know (password), something they have (a mobile device), and something they are (biometric data).
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End-to-End Encryption: A method of encrypting data at the sender's end and decrypting it only at the receiver’s end to ensure that the data remains secure during transmission.
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