Improvement on Cybersecurity Techniques and Risk Mitigation of Information Systems Used in Internet Banking and Mobile Banking

Abstract

Cybercrime committed on financial institutions are rapidly and steadily becoming more sophisticated and more widespread. The rise in occurrence and extent of cyber-attacks can be linked to a number of factors, such as ineffective risk management systems within banking sectors, ICT technological infrastructure and staff competency and awareness about cyber crimes attacks. As a result of the vulnerabilities in the systems, organized criminals take advantage to breach financial institution’s systems to steal money. This study makes an effort to look into ways to improve the multi-tier threat and risk management system for internet and mobile banking. The completion of this project marks a significant milestone in the development of a modern banking management application system. The Banking Management Application System, integrated with Flutter, DRF, and MySQL, demonstrates the capabilities of these technologies in building cross-platform mobile applications with an intuitive and visually appealing user interface, robust backend API, and efficient database management. By implementing essential banking functionalities, the system aims to enhance the banking experience for customers, providing convenience, security, and efficiency in managing their accounts and conducting transactions. The successful implementation of the Banking Management Application System with DRF and MySQL confirms the feasibility and effectiveness of this technology stack. The system's architecture, database design, user interface design, and the powerful features of DRF and MySQL contribute to its overall functionality and user satisfaction. Through this project, we have gained valuable insights into software design, system implementation, and the utilization of the Dart-Flutter-DRF-MySQL stack for developing a comprehensive and feature-rich banking management application system.