Analysing the Security and Usability of Online Banking Applications in Pakistan

Abstract

The smartphone and the internet have become an intrinsic part of our lives. In the current era, people mostly rely on smartphones to perform their tasks with convenience and efficiency. A lot of applications are available to facilitate users. Among all these applications, online banking applications are also gaining popularity in Pakistan. As a result of COVID-19, a lot of users in Pakistan switched to online banking. However, the most significant obstacles to the widespread use of online banking applications are security and usability concerns. The goal of this research is to analyse the security and usability of online banking applications in Pakistan. An investigation of security, usability, users’ education, and comparison with international online banking applications is carried out in this study. An online survey was used to collect users’ perspectives on security and usability issues in online banking. To better understand the survey results interviews sessions were conducted. Survey and interview findings were compared to highlight the strengths and weaknesses of online banking applications in Pakistan. It is hoped that the findings of this thesis will help online banking service providers in Pakistan to recognize usability, security, and user education issues and make their services more secure, usable, and convenient. Additionally, this study aims to identify users’ needs and provide suggestions for improving the acceptance and usage of online banking applications in Pakistan.