Security Challenges in Banking Industry

The assignment is a writing proposal for a research project on security challenges associated with the adoption of an information system in the banking industry. It provides background information, identifies shortcomings in current solutions, and outlines the main aims and research questions of the project. The proposed methodology includes literature review, research limitation, and research schedule.

Writing Proposal Templatefor ITC571
Important Notes
1. Your writing should not exceed 2 pages
2. You need to write it in your own words but should use the reference in the
introduction and your proposal section
Student Name and ID
< Name: Please Fill>
<ID: Please Fill>
Project area Security challenges associated with adoption of an information system in banking industry
Project name Security challenges associated with adoption of an information system in banking industry
Key words Security challenges, information system, banking industry
1. Introduction Background
Information,
Issues and
Current Solutions
The paper reflects on the security challenges that are mainly faced by the banking industry
due to the information system adoption. It is identified that before the adoption of
information system the banking industry faces number of challenges as well as issues
including huge time consumption, lack of proper security as well as duplication of data entry
(Leonardi et al., 2016). In order to resolve this issue, the banking industry adopts information
system, which not only resolves the issues but also assists in improving communication,
globalization and more.
Shortcomings/
limitations in the
current /existing
solutions
The adoption of information system within the banking industry creates number of security
challenges like phishing, data breach, Denial of Service as well as SMS Spoofing.
Importance of
solving this
problem
It is very much necessary to resolve the security related issues within the banking industry
which mainly occur due to the adoption of information system. Proper mitigation steps helps
in securing data and information of the customers so that proper customer experience must be
provided.
2. The Main aims of
this research
The main aim of the research is to mitigate different types of security issues that mainly occur due to the
information system adoption within the banking industry.
3. The questions which The research question are as follows:
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need to be addressed in
this research
1. What are the issues that the banking industry faces due to the information system adoption?
2. What are the security issues that the banking industry faces due to the utilization of information system?
3. How the security challenges within the banking industry can be mitigated?
4. A Brief Description
of YourProposal
The banking industry adopts information system in order to resolve challenges as well as issues that mainly occur
due to the utilization of manual system. It is identified that the adoption of information system within the banking
industry is very much advantageous as it helps in providing number of benefits including proper customer service,
improving communication as well as globalization (Martins, Oliveira & Popovic 2014). However, it is identified
that the adoption of information system creates numerous security related challenges in spite of its advantages and
the challenges include data breach, hacking of data and information, phishing and more. It is found that hackers
mainly targets the sensitive data of the bank that include personal details of the customers, transaction details, bank
records and intellectual property and generally distributes the information (Chandio et al., 2017). Thus, it is quite
necessary to adopt proper steps as well as strategies that are quite helpful in mitigating security challenges that the
banking industry is facing.
5. Factors affecting the
research and ethical
considerations (if
needed)
The factors that affects the research are as follows:
Budget: Proper budget estimation is necessary for completing the research and if any budget related issue occurs
then it will affect the research.
Time: It is quite necessary to estimate proper time for the research so that the entire research will be successfully
completed.
The ethical consideration include:
 The researchers must utilizes proper sources for collecting information
 Proper rules and regulation must be followed by the people who are generally involved within the research
6. The Process
orMethodology of Your
Project
The steps include:
 Introduction
 Problem statement
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 Objective
 research question
 Literature review
 Methodology
 Research limitation
 Research schedule
 Summary
It is identified that secondary research method is utilized for undertaking the research. Numbers of journal articles
as well as books are generally reviewed in order to collect proper data as well as information.
7. Expected Outcomes The banking industry will be capable of providing proper customer service to the clients without facing any type of
difficulty.
Reference list Chandio, F.H., Irani, Z., Zeki, A.M., Shah, A. and Shah, S.C., 2017. Online Banking Information Systems
Acceptance: An Empirical Examination of System Characteristics and Web Security. Information Systems
Management, 34(1), pp.50-64.
Leonardi, P. M., Bailey, D. E., Diniz, E. H., Sholler, D., & Nardi, B. A. (2016). Multiplex Appropriation in
Complex Systems Implementation: The Case of Brazil's Correspondent Banking System. MIs
Quarterly, 40(2), 461-473.
Martins, C., Oliveira, T., & Popovič, A. (2014). Understanding the Internet banking adoption: A unified theory of
acceptance and use of technology and perceived risk application. International Journal of Information
Management, 34(1), 1-13.
© Dr Abeer Alsadoon 2016_CSU Sydney Study Centre
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