Proposal, Literature Review, Research Method: Mobile Banking Impact

This report details a student's research proposal investigating the impact of mobile computing on the banking industry. It includes a comprehensive literature review examining existing research, methodologies (qualitative and quantitative), and identifies a research problem related to security vulnerabilities and user experience. The proposal outlines the research aim, philosophy (positivism), expected outcomes, and significance, including a detailed methodology. The study aims to address security constraints, financial problems, and transactional information risks associated with mobile banking. The report also presents an introduction, related work analysis, and a conclusion summarizing the findings and future research directions. The document covers topics like online banking, network security, and the challenges faced by banks in the digital age. It aims to provide insights into the evolving landscape of mobile banking and its implications for both financial institutions and customers.

Running head: PROPOSAL, LITERATURE REVIEW, RESEARCH METHOD
Proposal, Literature Review, Research Method
Topic: Impact of Mobile Computing in the Banking Industry
Name of the Student
Name of the University
Author Note

1PROPOSAL, LITERATURE REVIEW, RESEARCH METHOD
Table of Contents
Chapter 1: Introduction..............................................................................................................2
Chapter 2: Related work.............................................................................................................3
Introduction............................................................................................................................3
Selecting the qualitative and quantitative research method...................................................3
What did the authors do?........................................................................................................4
Why did the authors conduct the research?............................................................................4
What are the key differences in the method/approach?.........................................................4
What can be further improved................................................................................................5
Research problem identified..................................................................................................5
Chapter 3: Proposed Research...................................................................................................5
Introduction............................................................................................................................5
Problem statement..................................................................................................................6
Aim of the research................................................................................................................6
Research Philosophy..............................................................................................................7
Expected outcomes and significance.....................................................................................7
Method and innovation..........................................................................................................8
Architecture or structure diagram of the method...................................................................9
Preliminary study/proof of implementation.........................................................................10
Description of typical scenarios...........................................................................................10
Highlight the expected improvement in the outputs produced............................................12
Chapter 4: Conclusion..............................................................................................................13
References................................................................................................................................15

2PROPOSAL, LITERATURE REVIEW, RESEARCH METHOD
Chapter 1: Introduction
The concept of online banking has been in the industry for over the last 20 years. The
time period might seem unimaginable but the banking services are in vogue over the past two
decades for managing the banking aspects over the use of internet. It is quite visibly
understandable that the use of the mobile banking facilities would easily make the services
provided to the clients in a much easier way. The facility provides the banking services to be
provided to the customers in such a ways the management of the accounts for the clients can
be done over the internet and there would be a reduced hassle for the clients as well regarding
the visits to the branches or even receiving the services or help over the telephone (Arcand et
al. 2017). A typical online service in the banking industry comprises of the monitoring of all
the transactions that occurs in the real time for the services like the effect of the transactions
occurring about the credits, deductions, deposits and the payments made. There are various
banking sectors that have provided the online facilities to the customers and they are regarded
as ‘brick-to-click’ banking sectors. In the age of digital transactions right at this point of time,
there have been many technical advancements for which the banks have been found to be
providing the services such that the greatest number of the banks have started to implement
the online facilities to provide the customers. The implementation of the online banking
services has also made greatest impacts on the network security of the banking industry as
well. Since, banks usually deal with the transactional details of the customers ranging from
minimum to maximum numbers of transacted amount traversing to and from the accounts.
Therefore, the impact would also be occurring regarding the security about the transactional
details of the banking customers in the cyber world. Following would be the research
proposal about the security of the online banking systems and all the transactions that follow
including the review of the literature about the topic and the defined methodology behind the
research.

3PROPOSAL, LITERATURE REVIEW, RESEARCH METHOD
Chapter 2: Related work
Introduction
The related work is based on the identification of the different ways by which the
other researchers have also found out the information about the same research topic, which is
the impact of mobile banking and its implications regarding the banking industry altogether.
For this, all the related work would be taken into consideration based on the chosen topic and
then the scope of the review would be defined. Based on this, the selected databases of the
reviews collected would be analysed to conduct the searches. This would form the foundation
of the entire research and would establish the ways by which the original authors of the
research papers would be properly acknowledged. For a research paper as well, it is
extremely important to find out the ways by which the scholarly articles and the other
relevant sources have been defined to find out the area of research and the critical evaluation
of the research topic has been identified. Therefore, the related work is selected to provide the
base of the assignment so that the issues regarding the impact on the banking industry by the
mobile banking applications can be clearly identified.
Selecting the qualitative and quantitative research method
The impact of the scenario or the chosen topic is based on the identification of the
different factors that the various researchers have found out about the impacts of the security
vulnerabilities in the mobile banking applications and the different ways by which the
researchers have found out the mitigating strategies for the same. Finding out the impact of
the same would definitely point out that the information related responses would be better to
elaborate the impact as well as the reasons by which the mitigation factors have been
elaborated (Tam and Oliveira 2017). There are several reasons by which the factors
controlling the data collection method is selected as qualitative method would find out the
information about the security vulnerability.

4PROPOSAL, LITERATURE REVIEW, RESEARCH METHOD
On the other hand, the quantitative method is selected in this matter to find out how
the different perspectives for the security vulnerabilities by the different people associated
with the banking industry can be figured out to be represented through statistical data
(Dirican 2015). The data would then be represented to the analysis procedure so that there
would be a better information etched out form the perspectives of the people who have
associated with the information collection procedure and presented their views about the
different perspectives of the security vulnerabilities in the mobile banking applications.
What did the authors do?
The authors have found out the different evidences about the situations under which
the vulnerabilities about the security in the banking sector have affected the business and the
users as well. All these have been collected to provide an overview of the situation that the
banking sector is in right now.
Why did the authors conduct the research?
The authors have conducted the research as they have understood how difficult it has
been to the banking sectors in handling the avert situations where the mobile banking apps
have resulted into laundering money from innocent users with the use of these apps by the
hackers and then how it has affected them as the information related to the situation is not
just about the personal information but also related to money.
What are the key differences in the method/approach?
There have been several identified papers where only qualitative or quantitative
methods have been used as an analysing research approach method. Only this paper amongst
the identified others have used the mixed methods for the same.

5PROPOSAL, LITERATURE REVIEW, RESEARCH METHOD
What can be further improved
There could have been a detailed approach related to the effect on the users identified
as well so that there could have been a better lookout at how the security vulnerabilities of the
banking sector would affect the users who are trying to handle their business accounts all by
themselves with the utilization of the various banking applications that are available.
Research problem identified
The identified research problem is related to the finding of the issues that have been
related to the effect on the users as well. They might require handling their own account by
themselves to save the hassle of contacting the bank and visiting several times. However, the
identified problems occurring every now and then would require the people to lose their faith
on the mobile banking apps if the issues prevail.
Chapter 3: Proposed Research
Introduction
Establishing a good research methodology with proper details about all the aspects of
conducting a particular research on a topic is extremely necessary for every study. The topic
that is particularly chosen in this matter is about the security constraints of online banking
and how the mobile computing in banking industry can be acceptable for the research
methodology regarding the structure of the entire study (Mohan and Potnis 2015). Research
methodology forms the backbone of every research paper as it defines the step by step
procedures that would be taken for conducting a particular research and collecting the
information and data related to the topic. The collection of information and data also follows
to several theories for conducting a research that should be put into to a proper action in the
practical life. There might be situations where putting the theoretical scenarios in the practical
scenarios might not synchronise with each other and the collision may form because of

6PROPOSAL, LITERATURE REVIEW, RESEARCH METHOD
several conditions regarding the limitations of the study and the ethical considerations. All of
these would be described in details in this particular section about the methodology adopted
for the proposed research study for finding out the relevant data and information.
Problem statement
The most important problem that has been identified in this particular matter is about
the impact of mobile banking for the entire industry and the most important one is the
security network which is regarded as one of the most prominent issues that the banking
industry faces regarding the account information of a particular customer stored in their
mobile devices and other disadvantages of using the mobile banking for financial
transactions. There are also identified issues that suggest that mobile banking might not be
the safest option for or a banking customer to manage their financial transactions (Boateng et
al. 2016). Remind me to check messages received buy mobile banking users that might have
a chance of being fake and might coerce the user to disclose their financial details posing is
the financial advisors being the actual hackers. the data usage cost and the cost of the devices
for using the mobile banking services might also be problematic for this particular case as the
financial institution for which the customer is trying to use the mobile banking facilities also
charge the user for some services that they are using provided by the financial institution.
This is why there are several problems that need to be address and should be required for
finding out a solution through this research paper.
Aim of the research
The primary aim of the research is to find out about the security constraints, the
financial problems and also other problematic issues like the problems regarding maintenance
of the financial and transactional information from been compromised to the hackers. Finding
out of the reasons for which security constraints arise in case of the mobile banking facilities
would be the primary aim of this research paper.

7PROPOSAL, LITERATURE REVIEW, RESEARCH METHOD
Research Philosophy
Identifying and implementing a proper research philosophy is a theoretical approach
that specifies in what way the data for the research would be collected and the utilization of
the theoretical approaches that would be used for specifying the philosophy behind the
conduction of the data collection method (Madan and Yadav 2016). For the conduction of
any research methodology, it is especially required to have the research philosophy figured
out so that the basic belief behind the guiding of the data collection procedure can be guided
throughout the research study. The development of the nature of the research is specified in
this particular research is also required. However, there are mostly fours specific research
philosophies available for the research study, on the basis of which, the study should figure
out the proper way of dealing with the type of data to be collected. The available research
philosophies include the elements like the philosophy of positivism, interpretivism, realism
and pragmatism. For this particular research study, it is required that the implication of the
real-world situation should be regarded as a primary inclusion in the form of data collection.
This is why, positivism research philosophy would be regarded as appropriate for this
research as it would take the observable reality of the society and the structured data
collection methodology would be dependent on the testing of the situation with the help of
the collected data about the topic analysed to infer a result with the help of statistical tools.
Expected outcomes and significance
The expected outcomes that are regarded to be considered as the part of the
information and the inference figured out of the result from the research conducted about the
security issues and impacts of the mobile banking facilities in the banking sectors need to
find out the actual problems that the people have been facing regarding the mobile banking
applications and their security vulnerability and also the possible solutions that the banking
sector and financial institutions might implement and strategize to eliminate the identified

8PROPOSAL, LITERATURE REVIEW, RESEARCH METHOD
vulnerabilities (Ahmed et al. 2016). These matters need as every banking and financial
institution must think about providing a solution to the vulnerabilities about the security for
the financial information of the users.
Again, the outcomes are extremely important to find out since the significance is
directly related to the transactional and financial data of the clients (Sabherwal and Jeyaraj
2015). The primary requirement for the deployment of mitigating the risks associated with
the banking sectors are required to mitigate as the technology behind the development of the
mobile banking applications itself provides the idea that there lies immaturity in the mobile
devices about the understanding of the severity in the risks associated with the customer data
related to their monetary transactions. The additional security control should be found out to
help the organizations sort out the lines of defence to include either while developing the
mobile applications for banking sectors or providing the services to provide security after the
deployment of the banking applications over the identified vulnerabilities that the mobile
systems automatically have.
Method and innovation
The methods that would be used for this particular research for the collection of data
relevant to the study in finding out the mobile banking vulnerability impacts on the banking
industry. This is why, there would be a situation where both the information regarding the
situation would be essential to collect along with the effectivity of the statistical data relevant
to the topic. This is why, it is extremely important to understand the basic idea behind the
finding of the data and the way by which it would be feasible to collect. For this particular
situation, it would be easier to find out the data relevant to study further based on the mixed
methods for collecting the data. This is why, the reasons for which the understanding of both
the information and the statistical data is required would be mentioned in this section as well.

9PROPOSAL, LITERATURE REVIEW, RESEARCH METHOD
The qualitative and quantitative data collection methods would both be used. The
primary data collection method would follow the utilization of the quantitative methods,
where on the other hand, the secondary source for data collection would follow the
qualitative data collection method (Nejad, Tran and Corner 2016). This is because, the
secondary data collection method would follow up with the collection of the literatures based
on this particular topic for which other researchers have also enlisted their papers after
researching on this particular topic. Their ideas and findings would be required to create a
base for the assignment and at the same time, there would be requirement for the
development of the questionnaires for the same to have an overall idea about the points at
which the statistical data needs to be collected.
The questionnaires for the data collection about the primary sources would be etched
out of the entire secondary research source and this would be presented to the primary
sources for providing the statistical data about the research topic, such that the analysis of the
data can be generated into a feasible information.
Architecture or structure diagram of the method
Figure 1: Diagram of the Method
(Source: Created by the Author)
Qualitative
Research
Objectives
Quantitative
Research
Objectives
Collect
Qualitative Data
Collect
Quantitative
Data
Collect Qualitative Data
Collect
Quantitative
Data

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Preliminary study/proof of implementation
The preliminary study has been based on the findings that is provided to find out how
the information has been based on the researches done by the other researchers as well. The
topic is used for finding out the different information that the researchers have found out
about the same topic and used the same findings (Kshetri, Fredriksson and Torres 2017). The
topic has been selected to search about the available journal articles which is then sorted to
find out the different relevant papers that categorically find out why the differences between
the papers are made to be selected. The ones which are the closer in depicting the information
of the research topic is selected to provide the information for the study. Based on that
information, the primary data collection procedure is to be extracted to find out how the
issues found would be provided to enable the statistical data about the identified issues and
their mitigation strategy.
Description of typical scenarios
According to the reports by various incidences and evidences presented about the
security constraints of mobile banking, there have been several statistical data about people
who have access to the digital media use and how the financial institutions are also getting
competitive for the customer satisfaction by offering them access to their accounts through
mobile banking and handle that customer base (Baptista and Oliveira 2017). There are several
community banks that also understand how mobile banking would provide them with
opportunities regarding the handling of rural markets and geographical remote areas and how
they can innovate there spread to the new markets and overcome all the limitations that their
infrastructure does not approve of right now but can make an Avenue for improving their
efficiency and also make the customers have an access to the payment systems. However,
there are several incidences about the risks regarding the mobile banking and the security of
the customer and their transactional details and information (Tam and Oliveira 2016). They

11PROPOSAL, LITERATURE REVIEW, RESEARCH METHOD
have been incidents about mobile malware. Mobile malware has been very prominent threat
in the banking industry right now regarding the security of the transactional details of any
customer including their personal details as well. The malware is recognisable through using
the online banking services via a personal computer but for mobile devices it has become
very problematic in identifying the malware. The malware can consist of virus is like
spyware, Trojan, rootkits and malvertising. The people posing as the banking sector
representatives with the intention of hacking and stealing the personal and transactional
details about a person one of the most common problem with the security in banking sectors
that is regarded as “Smishing” (Nejad, Tran and Corner 2016). There have been several
incidences like this that has occurred and caused several reports about stolen money from the
account of the customers. In addition to that, the news about the scams have been raising at
an alarming rate from time to time as well.
There are also several issues regarding the configuration, corrupted apps and poor
application designing where the vulnerabilities are often left open for the hackers to exploit
and gain access to the mobile banking transactional and personal details of any banking user
(Tam and Oliveira 2016). There are several other problems that also might occur regarding
the mobile banking uses, regarding the applications that are used for mobile banking services
for the customers and also the ones that represent the detailed descriptions about the handling
of the services to lessen the hassle that the user might face contacting the bank from time to
time and at the same time trying to secure the personal and transactional details.
The consumers are mostly looking forward to have a better understanding of the
hassle that they often face while visiting the banks and would like to have a one-step solution
for all the services that they receive, related to the checking of the balances, the depositing of
checks and also make transfers to different accounts. The control that the customers had over
their bank accounts were much more enhanced now and the finance control is not only the