Blockchain Technology in Improving Security and Efficiency in Online Banking Transactions

Thesis Abstract

Abstract
Blockchain technology has gained significant attention in recent years for its potential to revolutionize various industries, including banking and finance. This thesis explores the application of blockchain technology in improving the security and efficiency of online banking transactions. The primary objective of this study is to investigate how blockchain technology can address the existing challenges in online banking, such as security vulnerabilities and transaction processing delays. The research begins with a comprehensive review of the literature on blockchain technology and its potential benefits in the banking sector. The study then presents a detailed analysis of the current problems in online banking, including cybersecurity threats and inefficiencies in transaction processing. By examining the limitations and scope of existing research, this thesis aims to identify gaps in the literature and propose solutions for enhancing the security and efficiency of online banking transactions using blockchain technology. The methodology chapter outlines the research design, data collection methods, and analytical techniques employed in this study. Through a combination of qualitative and quantitative research approaches, the study explores the impact of blockchain technology on online banking security and efficiency. The research methodology also includes a case study analysis of banks that have successfully implemented blockchain technology to improve their online banking services. The findings chapter presents the results of the research, highlighting the key findings on the effectiveness of blockchain technology in enhancing security and efficiency in online banking transactions. The discussion chapter provides a detailed analysis of the findings, drawing connections between the research results and the existing literature on blockchain technology and online banking. In conclusion, this thesis underscores the significance of blockchain technology in transforming the online banking landscape by offering enhanced security measures and streamlining transaction processes. The study contributes to the existing body of knowledge by proposing practical recommendations for banks and financial institutions to leverage blockchain technology effectively. By embracing blockchain technology, banks can significantly improve the security and efficiency of their online banking services, ultimately enhancing customer trust and satisfaction. Keywords Blockchain technology, Online banking transactions, Security, Efficiency, Financial institutions.