A Study on Privacy & Security in Banking Institutions with Special Reference to Customer Perception and Satisfaction

Banks were always regarded as a place with long queues, and an unmanageable amount of paperwork. But due to technological advancements in the banking sector, the need for labour and paper works has reduced a lot. Also, another important perspective is that it can protect the data and provide complete security and safety to the transactions. Banking institutions just like other types of businesses face risks. Cyber security risk is the most prevalent risk which may arise from a range of both internal and external factors. Coming up with the right solutions allows banking institutions to stay in business and retain the trust of the public. The purpose of the study is to analyse privacy and security in the banking sector. The study further examines the banking customers' perception towards security and privacy concern and their satisfaction towards Privacy and security regarding the use of banking services.