Study of Fintech Application Security Vulnerabilities and User Awareness Among University Students in Owerri, Imo State, South East Nigeria

Fintech applications have become the dominant payment and banking interface for Nigerian university students, yet security vulnerabilities in these platforms and the limited awareness of associated risks among student users in South East Nigeria merit systematic investigation. This study examines identified security vulnerabilities in commonly used fintech applications and assesses security awareness levels among university students in Owerri, Imo State. A two-phase mixed-methods study was applied. Phase one involved a structured literature and documentation review of published mobile security assessments of five widely used Nigerian fintech applications (Opay, Palmpay, Kuda, Moniepoint, and PiggyVest) to catalogue security features and known vulnerabilities. Phase two administered a survey to 280 students from Imo State University and Federal University of Technology Owerri on security feature usage and vulnerability awareness. Descriptive statistics and chi-square tests were computed in SPSS. Available fintech security literature from South East Nigeria identifies unencrypted local data storage, inadequate session management, and absence of jailbreak detection as recurring vulnerabilities in mobile fintech apps. The Information Security Behaviour Model and Protection Motivation Theory provide the analytical framework. Findings indicate that 71 percent of students did not use PIN or biometric lock on their fintech apps, increasing exposure to unauthorised transaction risk. Recommendations address mandatory biometric authentication, user security notification features, and fintech security literacy education for university students. Keywords: fintech security, mobile applications, vulnerability awareness, university students, Imo State.