Customers' Perception of Cybersecurity Threats Toward e-Banking Adoption and Retention: A Conceptual Study

摘要

Internet technology keeps transforming the nature and processes of organizational goals because of its capacity to assist and enhance operational and managerial performance in both the business and non-business industries. However, the presence of cybersecurity threat and privacy issues have become rampant nowadays, considering the magnitude of digital-related transactions, particularly on internet banking systems. The harmful impact perceived from the said threats negatively affects the confidentiality, integrity, and availability of information to financial institutions (bank) and its customers. Again, the perception formed out of this displeasure (cybersecurity threat) interferes with bank customer's decision process regarding the e-banking adoption (or engagement) and retention. In view of this, the present article seeks to; (1) review empirical constructs (cybersecurity threats) in the previous work regarding customer's perception of cybersecurity threats that impedes e-banking adoption and retention and (2) propose a conceptual framework depicting the direct and indirect relationship among the constructs studied. Since the present study is entirely based on a conceptual study, we deployed both document and content analysis as a composite technique for executing the general aim of the study. Findings show that knowledge of perceived identity theft, perceived impersonation, and perceived account hijacked are regarded as cybersecurity threats from the customer's viewpoint that impedes their e-banking adoption and retention. The review discovered that victims (bank customers) of such perceived threats are apparently skeptical in their quest to engage in e-banking adoption and retention. Similarly, the cybersecurity threat-related information, however, poses a danger to users and a sense of unwillingness to engage or retain in e-banking transaction space. Practically, the survival of every business largely depends on its customer base (retention), hence this study propels the financial institutions as a reminder to strategically strengthen their security and privacy concern inasmuch as cybercrime in the banking sector is concerned. In theory, the paper adds up to the concept of cybersecurity repercussion especially in the scope of internet banking. Limitations of this present study are highlighted in the concluding part of the entire paper.