Abstract
Information
security is an important aspect to consider in online banking specifically in
the banking sectors which are working in Saudi Arabia. There is a need to
understand the associated risks which are involved in online banking and how
the information security protocols have been applied by banks in order to
reduce the risks to a considerable extent. The research proposal will be
focusing on different aspects relating to information security (IS) and the
risks covered in online banking. The research methodology will be done in a
manner to support findings and literature review. The interviews will be
conducted in the research in order to find primary data effectively to produce
the data which will be reliable and trustworthy.
1.
Title
Information Security (IS): The application of
Information security (IS) controls to mitigate associated risks of online
banking in Saudi Arabia.
2 Introduction
2.1 Research
Question
The
main emphasis of the research will be on the domain of information security
(IS) of online banking in Saudi Arabia and how the risk based approach is
involved in online banking. Considering information security (IS), the research
questions for this research are as follows:
a)
Determine and identify the risk based approach which
is involved in information security of online banking in Saudi Arabia. This aspect
will focus on the risk approach which are causing threats and harms to information
security and the way online banking is being affected by this phenomenon in
Saudi Arabia.
Before emphasizing on the mentioned scenario, there
is a need to understand the critical literature review in order to create the
following aspects.
b)
What is
Information Security (IS)?
c)
Online banking
in Saudi Arabia.
d)
Identification of optimal balance between the
technical and non technical IS controls.
e)
The influence of
level protections on users’ acceptance.
2.2 Importance
of Research question
The
importance of research question can be considered in a way that information
security these days have been affected and badly influenced by the risks which
are associated with (IS) information security of online banking and the
research question will be able enough to answer the issues in an effective
manner as it will allow and help in identifying and determining ways through
which the risks of online banking can be decreased.
3 Theoretical Framework
The banking sector has been so much important and
significant in contributing its part to the development and progress of Saudi
Arabia. The financial industry specifically banking industry of Saudi Arabia
has been transforming in a way that in recent times the online banking scenario
has been emerged as the most important aspect of traditional banking and online
banking has been greatly influenced by another concept and domain of
information security in this concern. Information security (IS) is very critical
in making contributions towards the success of online banking.
Banks in Saudi Arabia provide online banking
services where customers are able to carry out transactions as banks are
encouraging customers to do online banking with the provision of secured
environment according to banks ‘point of view. The security of information is
based upon the five aspects registration, services, security threats and
awareness and authentication methods (Qasem, 2014) .
Information security has been defined as the defense
and guards of information from a extensive variety of intimidation so that
business stability is sustained and continued in an effective manner and at the
same time reducing risks and increasing return on investments (ROI) thus
expanding business opportunities (Turner, 2008) .
This fact has been analyzed that information
security has been applied to banks operating in Saudi Arabia as banking
institutions have turned out to be the main focus and in this aspect the fall
down in banking can lead to further down fall in the overall banking sector and
will cause a hindrance in the economy of Saudi Arabia.
The increase application and use of information
technology and security in online banking perspective have produced or resulted
in basic change in terms of how banks are interacting with customers (Dabholkar & Bagozzi, 2002) , (Parasuraman & Zinkhan, 2002) , (Bauer et al., 2005) . Banking organizations are matured
enough or not, they have to maintain their energy and strength by bringing change
in a way of learning and innovating from their experiences (Hellriegel et
al., 2005) ,
(Slocum et al., 2008) .
The acceptance of online baking has to be considered
in Saudi Arabia as there is an increased need in information security so that
the risk associated with online banking can be reduced to a considerable level
as there are factors that can create impacts upon the acceptance of online
banking as other factors are also associated with Saudi Arabia as quality of
internet connection along as internet quality is critical element in any
internet based application. As internet is controlled by Saudi government as
the internet is affecting in adopting online banking services and there is a
relationship between speed of internet access and use of online banking which
has been found in the study (Sathye, 1999) , (Almogbil, 2005) .
Awareness in terms of the benefits and services of
online banking suggesting that lack of awareness of online banking services and
benefits are the reasons due to which consumers are reluctant in using online
banking services (Howcroft et al., 2002) .
The element of trust is also a key factor in the
increased use of online banking and e-commerce (Yousafzai et al., 2003) as trust is more
significant in online banking than offline banking (Suh & Han, 2002) the online banking
transactions involve more sensitive information and customers are more
concerned with the access to critical files and information transferred through
internet (Alsajjan & Dennis, 2006) , (Suh & Han, 2002) .
4. Research Methodology
The research study will be using both primary and
secondary sources in a combined way in order to facilitate the interviewing
process along with the searching and finding the document and the literature
review will also be done in this aspect. In this way the multi method technique
will be utilized in this research which is known as triangulation. The reason
for selecting this research method is that it will help in providing a desired
extent of correctness in research findings (Bryman, 2001) .
This research will be done and completed within the
situation and background of academic literature therefore the process will
begin by appraising the available literature means the secondary data will be
analyzed carefully which can be originated and accessed in the form of books,
academic articles, Journals and periodicals written by journalists, authors and
researchers. Primary data will be collected by the help of performing
interviewing in which the nature of the problem will be evaluated in a suitable
manner. The persons who will be
interviewed are manager information security and the personnel who are working
in online banking departments of different banks. Interviewing is also helpful
in providing flexibility and compliance which is very vital in this research as
the other method is not as effective for instance questionnaires.
4.1 Interviewing
The interviewing is a very significant factor in
collecting primary sources of information as the interview will be consisted of
open ended and close ended questions. This will help in developing standard and
flexibility will also be maintained in this way. The open ended questions will
be applied in order to explore the hidden areas in a way that ideas and salient
features will be discussed and opinions regarding the research will be explored
as well (Gill et al., 2008) .
The interview questions will follow the different
domains and areas which have been developed and organized on the basis of
literature review in order to achieve the expected outcomes. There are
advantages and disadvantages (Opdenakker, 2006) which are related with interviews in a
way that they are very multifaceted to understand effectively as it consists of
different skilled conduct or an attitude and knowledge of a domain which is
being researched but however, its benefits are very crucial as compare to its
drawbacks.
4.2 Document
Search
In
document searching this process will help the research to perform the detailed
and comprehensive examination in order to support and complement the data which
will be obtained from interviews. The documentary confirmation will support in
proving reliability of the interview results as results are expected to be
biased and undependable.
4.3 Analysis
In
this aspect the data will be analyzed by the help of statistical methods as
descriptive statistics will be produced in order to examine and assess the sharing
of relevant statistical procedures will be used to explore and understand the
data which will be collected in the research (Kumar, 2008) .
5. Reflections
As far as this research is concerned, there can be
so many obstacles and challenges which will be anticipated during the process
of research. The potential hurdles and difficulties could be in the form of
time factor in which the people who will be involved in the process of interviewing
will have different priorities as compared to the priorities which have been
set by the researcher therefore it will be a tough ask to access the people in
a timely manner as the time allocation from the participants for interview will
be critical and significant in determining the effectiveness and usefulness of
the data.
The access in obtaining information regarding the
research will be difficult in a sense that the research is related with the
financial sector specifically banks working in Saudi Arabia therefore the
confidential matters relating with the information might not be disclosed
during the interview as the banks have strict policy and disclosure procedure
which may affect in attaining the desired information.
As far as the conceptual, theoretical problems and
challenges are concerned these issues can be considered in a way that sometimes
it can be assumed that the limitations and drawbacks of secondary sources can
impact negatively in attaining and developing primary data as a matter of fact
this issue is of high importance that there is a need of analysis and judgment
of the secondary data so that the data which is available should be perceived
as reliable and can contribute sufficiently in developing primary data.
From ethical point of view it is very important to
conduct the research in confidential manner in a sense that the participant’s
information should be preserved in a desired manner and their information will
not be given to third party in either way. Ethical issues regarding the
plagiarism of the data will be kept in mind by the researcher in a way that the
researcher will not try to use and insert the data directly from the internet
and this thing will be made sure that participants involved in the interviewing
and collecting primary data will be contributing on their own will and consent
and no single person will be forced to become a part of this research.
The other issue which is expected that I will be
working as a researcher in this study and at the same time the potential bias
during the research might come which may cause in a negative way. The knowledge
and awareness regarding the research can influence in a way that my already
developed assumptions and thinking about the research might play a disturbing
role but I will make sure that the research could be done by the help of
neutral and open mind so that the research should not be affected because of
potential bias (Law & MacDermid, 2008) . My position as a
researcher in a political field can influence this research in a way that the
political scenario will be influencing the research study as in the country
there are different situations which may cause difficulties in the research and
the research might be affected as the researcher can be affected by the
political situations.
