Assessment of the risk awareness for mobile banking users in Tanzania, a case of CRDB Mbagala branch Temeke Municipality Dar Es Salaam

Bashange, Levina (2015) Assessment of the risk awareness for mobile banking users in Tanzania, a case of CRDB Mbagala branch Temeke Municipality Dar Es Salaam. Masters thesis, The Open University Of Tanzania.

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Abstract

Banks have implemented mobile banking services in order to provide useful and affordable banking services. However, there has been concern that their efforts may not bring much result if the risks affecting implementation of mobile banking services are not established. This study was used qualitative research methodology and exploratory as research design. The sample size was selected from population by using random sampling technique, data was collected by using closed questionnaire and data was analyzed by using SPSS. This study found that there were two sources of risks that were operational risks which caused human error and includes regulations, and policies, managements and lack of in-house expertise. Also there were technical risks that are non-human error and include technology, security and privacy. Findings also show that there has no any regulations introduced regarding mobile banking services in the country. Also technology which has been used as medium doesn’t support encryption techniques as result the financial information is transmitted as plain text, additionally the technology doesn’t support a strong authentications for the users except allow to enter Personal Identification Number on their phone which is easy to guess by the hackers thus placed on the customers on security and privacy risks. The study recommends that in order to make a proper control of risks for mobile banking services ensure proper security relies on the development and implementation of adequate regulations, policies and security measures for processes within the mobile banking stakeholders

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