Examining User Verification Schemes, Safety and Secrecy Issues Affecting
M-Banking: Systematic Literature Review
Abstract
Nowadays, movable banking apps are thriving in international pecuniary
market due to its flexibility and convenience, especially during
COVID-19 pandemic lock-down. Despites these benefits, its development
continues to face a lot of challenges due to security, privacy, and
authentication issues, especially in developing nations where elegant
technologies and explicit cyberspace laws remain an issue. This study
used PRISMA approach to systematically reviewed present m-banking
studies with aims of identifying other security and privacy issues, and
user authentication schemes challenges. Six scholarly databases of; IEEE
Xplore, EBSCOhost, Science Direct, Scopus, Taylor and Francis, and Web
of Science were searched. 38 articles were carefully read and analyzed
meticulously. The study results exposed customers fear of third-party
intrusion through other apps, device lost or theft with account
information, financial loses, and absence of clear cyberspace laws to be
the main safety and privacy issues. Also, the results found that the
present authentication schemes used by banks are becoming weak and open
to various attacks due to increase in online fraud. Thus, proposed two
frameworks for investigating other dimensions of risk and trust factors,
and for design of new user authentication scheme. Lastly, missing gaps
in current studies, and direction for upcoming studies are mentioned.