EXPLORING THE MEDIATING EFFECT OF TRUST IN THE RELATIONSHIP BETWEEN CYBERSECURITY CONCERNS AND MOBILE BANKING ADOPTION AMONG FINTECH CUSTOMERS IN NIGERIA

Abstract

Abstract Mobile banking is intended to provide a secure and efficient platform for advancing financial inclusion, yet in Nigeria persistent cybersecurity challenges such as fraud, system unreliability and privacy threats continue to erode consumer trust and constrain adoption. This study investigates the mediating role of trust in the relationship between cybersecurity concerns and mobile banking adoption among fintech users in Nigeria. Anchored in the Technology Acceptance Model theoretical perspectives, the study adopted a cross-sectional quantitative research design to provide empirical evidence of these relationships. Data were collected through a structured questionnaire administered to 498 active mobile banking users selected through multi-stage sampling across major urban and semi-urban locations. The instrument was validated through expert review and reliability was confirmed using Cronbach’s alpha of 0.81 coefficients. Data were analyzed using regression-based mediation techniques with bootstrapping procedures to test the indirect effects and establish the robustness of the mediation pathways. The findings reveal that perceptions of fraud, financial loss and system reliability significantly reduce adoption through diminished trust, whereas privacy concerns exhibit no significant indirect influence. Trust emerges as the critical conduit linking cybersecurity perceptions with users’ willingness to adopt mobile banking services, underscoring that technological adequacy alone cannot ensure adoption without a solid foundation of trust. It is therefore concluded that restoring and maintaining consumer trust is indispensable to achieving sustained mobile banking adoption. The study recommends the establishment of integrated cybersecurity governance frameworks emphasizing real-time fraud monitoring, transparent data management and continuous user education as essential for rebuilding trust and ensuring long-term sustainability within the mobile banking ecosystem.