Analysis of Quantum Cryptography for Enhancing Mobile Banking Security in Nigeria: A Case Study of First Bank, Kano State
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- NGN 5000
Background of the Study
Mobile banking is a rapidly growing segment in Nigeria; however, it faces persistent cyber threats that jeopardize customer data. First Bank in Kano State is exploring advanced security measures to secure mobile transactions. Quantum cryptography, using techniques like QKD and quantum-resistant encryption, promises to fortify mobile banking systems against attacks (Adekunle, 2023; Ibrahim, 2024). Its unique ability to detect eavesdropping in real time and secure communication channels could greatly enhance mobile transaction integrity. This study evaluates the role of quantum cryptography in protecting mobile banking systems by addressing current vulnerabilities and proposing enhanced encryption protocols.
Statement of the Problem
Traditional encryption methods in mobile banking are increasingly vulnerable to sophisticated cyberattacks, exposing customer data to risk (Emeka, 2023). First Bank’s mobile platforms currently depend on classical security protocols that may not withstand emerging quantum threats. The challenge lies in integrating quantum cryptography into the existing framework without disrupting service continuity. This study investigates the feasibility of employing quantum-resistant technologies to prevent cyberattacks and secure mobile transactions while overcoming high implementation costs and compatibility issues.
Objectives of the Study
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Evaluate the effectiveness of quantum cryptography in mobile banking.
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Identify vulnerabilities in current systems.
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Develop recommendations for integrating quantum security measures.
Research Questions
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How can quantum cryptography secure mobile banking transactions?
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What vulnerabilities exist in current systems?
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What strategies enable smooth integration of quantum techniques?
Significance of the Study
This study is significant as it addresses the critical need for enhanced mobile banking security in Nigeria. By leveraging quantum cryptography, the research aims to protect sensitive customer data, build trust in digital banking services, and provide actionable insights for improving mobile security at First Bank, thus contributing to financial stability in the digital age (Chinwe, 2024).
Scope and Limitations of the Study
The study is limited to First Bank in Kano State, focusing on mobile banking security, defined objectives, and selected LGAs in the sampled state only.
Definitions of Terms
• Quantum Cryptography: Security techniques that use quantum mechanics to secure data transmissions.
• Mobile Banking Security: Protocols and measures designed to protect mobile financial transactions.
• Encryption Protocols: Methods used to convert data into secure formats.
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