SOCIAL ENGINEERING AND PRODUCT DEVELOPMENT OF COMMERCIAL BANKS IN RIVERS STATE

Abstract

The study examined the relationship between social engineering and product development of Commercial Banks in Rivers State. The study adopted the explanatory cross sectional survey research design. The population of the study consisted of the Twenty-Four (24) Commercial Banks operating in Rivers State. The sample size of the study consisted of the entire population since the population is small. Thus, the study adopted the census method of sampling.  A structured questionnaire was used as instrument for data collection after ascertaining its reliability through the employment of Cronbach Alpha. Mean and Standard Deviation were used for univariate analysis of the study. Spearman Rank Order Correlation and Partial Correlation were used for the bivariate analysis and multivariate analysis of the study, respectively. Findings revealed that there is a significant positive relationship between social engineering and product development of Commercial Banks in Rivers State. The study concluded that social engineering correlate with product development of Commercial Banks in Rivers State.. The strategic utilization of intelligence fosters a proactive approach to market dynamics, allowing banks to stay ahead of competitors, enhance customer satisfaction, and drive sustainable growth. The study recommended amongst others that management of Commercial Banks should incorporate ethical hacking as a core component of their cybersecurity strategy as conducting regular penetration testing and vulnerability assessments, banks can identify potential security gaps before malicious hackers exploit them.