Evaluation of Internet Banking Security and Customer Trust in Guaranty Trust Bank, Abuja FCT

Internet banking security remains a central concern for customers and regulators in the Nigerian digital financial services landscape, and its relationship with customer trust requires systematic evaluation. This study evaluates the effect of internet banking security measures on customer trust in Guaranty Trust Bank branches within the Federal Capital Territory, Abuja. A survey research design was employed, and data were collected from 280 internet banking users through self-administered questionnaires at four GTBank branches in Garki, Wuse, Maitama, and Area 11. Security constructs measured included two-factor authentication adoption, data privacy assurance, fraud alert mechanisms, and SSL encryption awareness. Customer trust was measured using a five-point Likert scale adapted from validated trust instruments. Ordinary least squares regression analysis was conducted to assess relationships between security variables and customer trust. Results indicated that two-factor authentication adoption (beta = 0.45, p < 0.01) and data privacy assurance (beta = 0.38, p < 0.01) were the most significant predictors of customer trust in internet banking. Respondents with prior experience of online fraud reported significantly lower trust levels than those without (t = -4.12, p < 0.01). The study concludes that GTBank and peer institutions must strengthen multi-layered authentication and transparent communication of security protocols to sustain and enhance customer trust. Recommendations include mandatory fraud recovery insurance disclosure to improve perceived security among internet banking users in Abuja. Keywords: internet banking, security, customer trust, GTBank, Abuja FCT