A Scoping Analysis of Literature on the Enhancement in Security in Financial Messaging Systems

Abstract

The security of financial messaging systems is critical to maintaining trust in digital financial platforms. Despite advances in cryptography, many contemporary systems remain vulnerable to channel-based and cryptographic threats, including eavesdropping, interception, tampering, and unauthorized access. Hybrid cryptographic models that combine asymmetric encryption for secure key exchange with symmetric encryption for efficient data protection have emerged as effective approaches for strengthening confidentiality, integrity, and authenticity in financial message communications. This study presents a scoping review of literature published between 2015 and 2025, mapping research on user vulnerabilities in financial messaging systems and examining the role of hybrid cryptographic models in mitigating these risks. Guided by the PRISMA-ScR reporting standards, 615 articles were identified across nine scholarly databases. Forty-four studies met the inclusion criteria after systematic screening. The findings reveal a growing emphasis on hybrid encryption strategies, particularly RSA–AES and ECC–AES combinations, due to their balance of security strength and computational efficiency. However, significant gaps persist in empirical validation, real-world deployment, and user-centred security design, especially in mobile-first and resource-constrained environments. Existing research largely prioritizes theoretical performance and algorithmic efficiency, with limited attention to practical integration, usability, and operational constraints. This review highlights the need for holistic security frameworks that integrate cryptographic robustness with usability, regulatory compliance, and contextual deployment considerations. It provides a structured foundation for future research focused on developing scalable, user-centric, and resilient security solutions for financial messaging systems.