Authors
Mr. Ebrahim Mohammed Ahmed
Gujarat University, India
Professor (Dr.) Gurudutta P. Japee
Gujarat University, India
Mesud Mohamed Akme
Gujarat University, India
Abstract
The rapid expansion of digital banking has enhanced accessibility and operational efficiency but has also increased exposure to cybersecurity risks. This systematic literature review (SLR), conducted using the PRISMA methodology, examines key cybersecurity challenges in digital banking. Thirty-six peer-reviewed studies published between 2014 and 2024 were analyzed from Scopus, Web of Science, IEEE Xplore, and Google Scholar. The findings identify major threats, including phishing, malware, data breaches, ransomware, and insider attacks. The review also highlights the growing role of technologies such as artificial intelligence, blockchain, and multi-factor authentication in strengthening banking security. Despite these advances, persistent challenges remain, notably low user awareness, fragmented regulations, legacy systems, and limited real-time threat detection. The study recommends integrated cybersecurity frameworks, continuous user education, and proactive risk management to improve the resilience of digital banking systems.
Keywords
Digital Banking Cybersecurity FinTech Phishing Malware Blockchain Multi-Factor Authentication Data Breaches
How to Cite This Article
APA Citation
Ahmed, E. M., Japee, G. P., & Akme, M. M. (2026). Cybersecurity Challenges in The Era of Digital Banking. International Journal of Economics and Management Intellectuals, 2(1), 1–12.
Conclusion
Cybersecurity in digital banking is a top strategic concern for financial institutions globally due to the rapid digitization of financial services and the growing complexity of cyber threats.
This review highlights that although technological innovations such as artificial intelligence, blockchain, and multi-factor authentication have strengthened security frameworks, their effectiveness is limited without integrated organizational policies, informed end-users, and harmonized regulatory approaches.
The digital banking landscape continues to face vulnerabilities driven by low customer awareness, inconsistent regulatory environments, outdated legacy systems, and a lack of proactive threat detection mechanisms. To mitigate these gaps, a comprehensive multi-layered approach is needed that combines advanced technology, human-centric security design, effective risk governance, and cross-border policy coordination.
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