Importance The article overviews some aspects of articulating the digital strategy for increasing the quality of banking services and expanding their spectrum, providing affordability and security of online banking as the most popular method of remote banking service. The new model of economic relationships indicates the need to raise self-sustainable e-business, where key banking products are sold via the Internet, with real offices operating as a delivery service. Objectives The research analyzes the current indicators of online banking security, determines its key weaknesses, issues, solutions in online payment risk management, and sets up an organizational model of such management. Methods The research draws upon the methods of logic and economic analysis. Results I evaluated online banking security indicators, criminal trends in hi-tech, and means of data protection. I identified issues, prospects and areas for online banking development and pointed out key weaknesses and specifics of banking that required higher security. The article mentions two levels of goals the data security system of online banking is to meet, and online payment risks. I also present an organizational model for control over online banking protection risks. Conclusions and Relevance Online banking security requires the bank to make a considerable financial investment in improvement of data transfer technologies, survey consumers’ preferences and change functionality and interface, develop and conduct information and advertising campaigns. Few credit institutions can afford it during crises. The effective policy is indispensable without segregation of duties and authority of control over implementation of the developments.
Keywords: online banking, information security
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