Cyber Security Measures as Determinants of Customers' Loyalty: Evidence from the Nigerian Banking Industry

Olota oluwayomi Omotayo
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Olota oluwayomi Omotayo: Department of Financial Intelligence, College of Accounting Sciences, University of South Africa (South Africa)

IJEP, 2026, vol. 9, issue 01, Pages : 129-143

Abstract: With the expansion of the digital presence of financial institutions, the complexity and intensity of cybercrime has increased, forcing banks to implement more resilient security systems to protect confidential information of their customers and maintain the confidence level among the participants of the financial ecosystem. Hence, cyber security measures as determinants of customers' loyalty: evidence from the Nigerian banking industry was investigated. Specifically, it examined the effect of biometric verification, multi-factor authentication, security awareness campaigns on customer loyalty in Nigeria banking industry. Descriptive survey was adopted using questionnaire to examine a sample of 377 active customers of the selected five banks in Kwara State. The obtained data was analyzed using PLS-SEM through SmartPLS. Findings revealed that multi-factor authentication has the strongest effect on customer loyalty (β = 0.385, t = 10.312, p

Keywords: Cyber-Security Measures; Customer Loyalty; Banking Industry; Biometric Verification; Multi-Factor Authentication; Security Awareness Campaigns (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:bjm:ijep00:v:9:y:2026:i:01:id:406

DOI: 10.54241/2065-009-001-007

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