EXAMINING THE EFFECT OF PROTECTIVE COVERAGE OF FINTECH APPS AND THE RISING CHALLENGES OF FRAUDS IN DMBS.
Abstract:
The rapid growth of financial technology (fintech) applications and the increasing adoption of digital mobile banking systems (DMBS) have revolutionized the way individuals and businesses conduct financial transactions. While these advancements have provided numerous benefits, such as convenience and accessibility, they have also brought about new challenges, particularly in the form of frauds. This study aims to examine the effect of protective coverage provided by fintech apps and the rising challenges of frauds in DMBS.
The research will utilize a mixed-methods approach, incorporating both quantitative and qualitative data collection techniques. The quantitative aspect will involve analyzing data from relevant sources, such as financial institutions, regulatory bodies, and consumer reports, to identify trends and patterns related to fraud incidents in DMBS. Additionally, surveys and questionnaires will be administered to fintech app users to gather information about their experiences with frauds and their perceptions of protective measures implemented by these apps.
The qualitative aspect of the study will involve conducting in-depth interviews with key stakeholders, including fintech app developers, representatives from financial institutions, and cybersecurity experts. These interviews will provide insights into the protective measures implemented by fintech apps and the challenges faced in combating frauds in DMBS. Furthermore, case studies will be conducted to analyze specific instances of frauds and evaluate the effectiveness of protective coverage provided by fintech apps.
The findings of this study will contribute to the existing body of knowledge by shedding light on the effectiveness of protective coverage offered by fintech apps in mitigating fraud risks in DMBS. The research will also identify the emerging challenges and vulnerabilities associated with frauds in DMBS, providing valuable insights for policymakers, financial institutions, and fintech app developers to enhance security measures and protect users’ financial interests.
Keywords: fintech apps, digital mobile banking systems, frauds, protective coverage, cybersecurity, financial technology.