Effect of Perceived Security and Trust on E-Banking Service Patronage of Deposit Money Bank’s Customers In FCT, Abuja.

Abstract

The study examined the effect of perceived security and trust on customers’ patronage of e-banking services in FCT Nigeria which was necessitated by the observed long queues in the banking hall despite the availability of these services which customers could take advantage of at the comfort of the homes for their transactions. Thus, the study examined the effect of perceived security, and trust on e-banking patronage (EBP) in Abuja. Survey design was adopted and data was collected using structured fivepoint Likert scale questionnaire from a sample of 385 customers of deposit money banks in FCT who were selected conveniently and purposively. PLS-SEM was used to analyse the data and the result revealed a positive and significant effect of perceived security on e-banking patronage also trust has a positive and significant effect on e-banking patronage in Abuja. Hence the study recommends that Banks
should invest in robust security protocols, such as advanced encryption technologies and multi-factor authentication, to reassure customers about the safety of their transactions. Also, they should implement educational campaigns to inform customers about e-banking security features and best practices, as this can increase their confidence in using these services.