CRYPTOGRAPHIC SECURITY SYSTEM AND ECONOMIC SUSTAINABILITY OF DEPOSIT MONEY BANKS IN ENUGU STATE

The study examined the Cryptographic Security systems and economic sustainability of Deposit Money Banks in Enugu State. The specific objectives are to: examine the relationship between Digital Signatures and Cost Reduction; and ascertain the relationship between Payment Gateways and Operational Efficiency of Deposit Money Banks in Enugu State. The study was based on the four (4) selected banks within Enugu metropolis with high number of staff and long years of establishment namely: First bank Plc, United bank of Africa, Zenith bank and Fidelity Bank. The total population for the study was three hundred and three (303). The study made use of the whole due to its small number. A survey design was adopted for the study. Instrument used for data collection was the questionnaire. Two hundred and eighty three (283) copies of questionnaire were properly completed and returned. Data was presented and analyzed by mean score and Z – test, to test the hypotheses. The findings indicated that Digital Signatures had significant positive relationship with Cost Reduction, Z(11.606, P. <. .05) and Payment Gateways had significant positive relationship with Operational Efficiency of Deposit Money Banks in Enugu State, Z(9.169 , P. <. .05). The study concluded that Digital Signatures and Payment Gateways had significant positive relationship with Cost Reduction and Operational Efficiency of Deposit Money Banks in Enugu State. The study recommended among others that Banks should implement strong encryption algorithms and authentication methods for digital signatures to enhance the security of banking transactions.