Electronic Banking

Topics: Bank, Risk, Risk management Pages: 43 (8313 words) Published: July 16, 2014


SAMAH SAMEER MAHMOOD AL SAATI
ID #: 0400447
BANK 499

ADVISOR:
Dr. Ahmed Ghuraibah

TABLE OF CONTENT

TITLE
PAGE NO.
Introduction
3-5
Scope
6-9
Discussion – Risk of E-Banking
9-13
Discussion – Strategic Risks
14-22
Discussion – Risk Assesments
22-24
Joint Recommendations
24- 25
Case Study
25-28
Conclusion
29-35
References
35

E-BANKING & ITS RISK
1. Introduction
What is E-Banking
In the struggle to assign an appropriate name such technological innovation, are terms such as Online Banking, E-banking or Electronic Banking generically, although it should clarify what is meant by each of them. (1)3 Electronic Banking refers to the type of banking that is done through electronic means such as ATM's, Telephone and other communication networks. Traditionally, this term has been attributed to Internet Banking or Online Banking, but in this report I clarify its meaning. Some authors consider it as a higher order construct carrying many channels that includes phone banking, mobile phone banking (technology-based Wireless Application Protocol -WAP -Internet transferring to the mobile phone) and that is based on interactive TV (Inet -television).(2) Internet Banking or Online tools that include an entity that offers its customers do their banking via the computer using a connection to the Internet. Others investigate Internet banking as a new type of system information using Internet resources and innovative World Wide Web (WWW) to enable consumers to make Financial Transactions in virtual space. (3) The Virtual Banking or without Physical Presence. It is considered a Virtual Bank as a bank with no office and is usually associated the concept of Virtual Banking to Electronic Banking. Overall, the market should not be called virtual, being more appropriate for the designation of banking or the Internet, since the organizations participating in the exchange are completely real and physically exist. In this consumer moves from traditional banking offices based on an autonomous banking, retail investors have experienced a profound change in their relationship with financial institutions. In the exchange relationship is the so-called B2C home banking or home banking for individual users, which could be included in any of the three types of banking as defined above. Also, is widespread in the business of Brokers and insurance companies. (4) With the words English home banking or online banking (translatable as a bank at home), also called a bank or online bank via internet banking operations carried out are indicated by clients of credit institutions through a remote connection with your bank, which has become possible with features the birth and development of Internet and mobile phone networks. (5) Under the generic title of home banking are in fact included both banking services internet banking - which implies a connection with the bank via a computer network and through the provided web portals - that those of mobile banking - where access is via GSM, GPRS and UMTS - as well as the phone banking that allows access to banking services via the fixed telephone network and, usually, through the use of Interactive Voice Response systems or operators of call centers. The home banking has had a huge spread in recent years also in Italy. (6) The introduction of this system, in addition to affecting the existing banks, recently allowed for the creation of banks total on-line (online accounts "pure") which has banking operations can only be performed on-line (such banks do not possess, i.e., doors open to the public): the latter practice conditions of interest are often better than those charged on current accounts of banks 'traditional' and cost account management equal, or close, to zero. This is made possible after killing of labor costs and infrastructure required to banking. (7) Some of the home banking services currently most popular are: Visions of the current account

* Bank online...


References: 9. Banking: There 's No Place Like Home by Kathy Yakal. Kiplinger 's Personal Finance Magazine (December 1997)
10
11. Electronic Commerce and The Future of Money; Technology and You, by Tariq K. Muhammad, Black Enterprise (June 1997)
12
13. Paying Bills By Computer; Time to switch to digital checks? Consumer Reports, (August 1997)
14
15. What works and what doesn 't in the world of Digital Finance, by Peter Keating, Money Magazine.(July 1996)
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