Impact of Trust in Digital Banking on Consumer Perception of Cyber Security Risks

There is no doubt that the confidence and perception of customers about the security of digital banking has been impacted as a result of the growth in the usage of digital banking, which has prompted concerns regarding the risks associated with cyber security. The purpose of this study is to investigate how customers' perceptions of cyber security concerns are affected by their level of trust in digital banking. The study highlights critical components as independent variables that impact customer risk perception. These components include consumer trust in the digital banking system, perceived privacy, the reputation of the bank, and user education and knowledge of cyber security pertaining to cyber security. For the purpose of determining the extent to which these factors impact customers' fear about cyber dangers while embracing digital banking, the study employs quantitative methodologies. With the help of the findings of this study, financial institutions will be able to strengthen the security of digital banking, increase consumer trust, and educate customers, all of which will lead to an improvement in the consumers' impression of the level of security offered by digital banking.