E-BANKING SECURITY VIS-A-VIS USABILITY, FUNCTIONALITY AND EASE OF USE

Purpose: Purpose of this paper is to raise management and professional awareness of potential risks in the use of e-banking security and protection mechanisms. Indiscriminate use of security mechanisms can lead to overcomplicated solutions and raise potential consequences of improper use. Planning of e-banking service demands finding the appropriate balance between security, usability, and ease of use of e-banking services. Evaluation of the solution in terms of usability and functionality for the client should be an integral element in the design process and implementation of e-banking solutions. Design/methodology/approach: Findings rely on previous area researches and include best practice, standards and regulatory recommendations. Descriptive and comparative method for knowledge synthesis and SWOT analysis were used. Findings: Study exposes some consequences of improperly used security mechanisms. Rational use of safety protocols/mechanisms would largely increase e-banking services security and ease of use. Implemented security mechanisms should not affect the reduction in utility and usability of e-banking services. Effects of complex protective mechanisms require advanced user knowledge of information technologies, are impractical, and can create a counterproductive effect as users will try to look for shortcuts. Solutions and requirements of security mechanisms in e-banking services, which can serve as a basis for further steps in commercial banks' web design solutions and mobile banking are presented. Proposals to ensure an adequate level of security while maintaining usability and ease of use for end clients are given. The findings are important for designers, developers, testers and specialists for security reviews of e-banking systems, as well as management and e-banking regulators. Research limitations/implications: Different shortcomings in the introduction of security mechanisms for e-banking services will be discussed. Services and solutions in relation to electronic money, or use of credit and debit card for online payments is not discussed. Guidelines for the introduction of user-friendly solution are proposed. Originality/value: Security elements in e-banking, their impact on usability and ease of use are defined. Real cases are evaluated. Solutions used in Slovenian banks will be compared to solutions used in European banks.