TITLE:
Impact of 2FA in Angola Bank Transactions
AUTHORS:
Francisco Mayele Silva Costa, Mateus Padoca Calado, Pedro Sebastião Teta
KEYWORDS:
Welwitschia Mirabillis Platform, Risk, Security and Validation in Banking Transactions
JOURNAL NAME:
iBusiness,
Vol.18 No.1,
March
18,
2026
ABSTRACT: With the advent of formalization of the Angolan economy, the use of electronic payment systems and internet banking, access to which in the traditional model is via a static credential, has become increasingly common, presenting a high degree of vulnerability nowadays, exposing confidential information, sensitive or protected from unauthorized persons. Electronic payment systems are heavily dependent on ICTs and other emerging technologies (fintech) in which customers or users must authenticate themselves to access banking products and services. Unauthorized access to sensitive authentication information can result in financial losses and compromise the image and good name of a given financial institution, in addition to a loss of confidence in the customer’s use of the electronic payment system and internet banking. Given the high rates of fraud and scams motivated by weak authentication systems (static credentials), there was a need to implement the second authentication factor (2FA) which adds another layer of security for accessing or carrying out a banking transaction. For this reason, we will take a look at the impact of the implementation of 2FA in the Angolan Payment System, as well as technologies and solutions to mitigate this problem that greatly affects Angolan families and companies.