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Paper代写:Electronic risk management of Banks in the Internet era

2019-10-08 | 来源:51Due教员组 | 类别:Paper代写范文

本篇paper代写- Electronic risk management of Banks in the Internet era讨论了互联网时代银行的电子风险管理。随着交易银行网站的兴起,监管机构越来越担心与互联网银行相关的风险。而外部和内部的安全问题可能对网上银行的增长构成最大的威胁。另外,违反法律、法规可能会产生法律风险。再一个,任何涉及安全或法律问题的问题都可能严重影响银行的声誉,这在银行业尤其重要。本篇paper代写51due代写平台整理,供大家参考阅读。

Electronic risk management of Bank,银行电子风险管理,paper代写,代写,essay代写

The banking industry recognises that a vital and profitable group of its customers need a significant online presence to complement the traditional "physical" business. As Banks adopt 24/7 trading websites to pursue "click and brick" strategies, a virtual minefield of traditional and new issues and risks has emerged. Banks entering online banking face operational, security, legal and reputational risks. As Banks move into this new area, innovative and proactive risk management methods are essential. Recent regulatory and legislative developments suggest that the early "self-adjusting" regulatory stance appears to be shifting to a more regulatory stance as e-banking evolves.

The Internet and the world wide web have had a profound impact on the way business is done in today's world. Although initially slow to join the e-commerce wave, Banks understood the importance of building an online presence in the second half of the 1990s. The initial excitement about the Internet led to the creation of several Internet Banks. However, many Banks are rapidly recovering from doing business only online. Most Banks recognise that there is an extremely important and profitable part of their customer base, which requires them to set up a substantial online presence to complement their traditional "physical" businesses. Demographics show that young customers are most likely to use online services, so there is an increased focus on developing strategic target customers. In recent years, from community Banks to national and global Banks, the banking industry has rapidly shifted to a "click and brick" strategy that emphasizes online supplementation of traditional banking services.

In some cases, traditional banking risks are magnified when Banks operate trading websites around the clock. As Banks enter this new field, some challenges emerge against the background of banking risks.

According to the Basel committee report on banking regulation, e-banking refers to the provision of retail and small value banking products and services through electronic channels. Thus, in the most comprehensive definition, e-banking will range from direct deposits, atms, credit and debit CARDS, and telephone banking to electronic bill payments and web-based banking. The federal reserve seems to prefer a broad definition of e-banking. Fed vice chairman alex ferguson's definition includes mature and familiar products such as atms, direct deposits, and experimental products such as stored-value CARDS and internet-based stored-value CARDS.

E-banking can be thought of as either a "closed" system or an "open" system. One is a closed system, which restricts access to participants bound by membership terms agreements. An example of a closed system is a bank member's access to its website. Second, the open network, there is no such member restrictions. Websites can also be considered "informational" or "transactional." Informational sites provide only information, whereas transactional sites allow user interaction.

Online banking seems to be here to stay. A survey of 23 bankers on the board of the American bankers association found that technical concerns were one of the top five issues bankers expected to address in 2001. The biggest technical issue facing these bankers is the strategy for online banking and e-commerce. They also worry about the increased risk and regulatory burden of moving into e-banking because of the logistics, upgrade costs and the fact that there is no real source of revenue from these activities.

Regulators are increasingly worried about the risks associated with Internet banking, with the rise of trading banking websites.

External and internal security issues may pose the biggest threat to the growth of online banking. Security can be compromised through internal and external networks. Mr Spivey discusses some of the cyber risks Banks face. Inside the bank, the security risk comes from the unauthorized use of computers by bank employees who can then manipulate the data to change account balances, misappropriate funds, or possibly wipe out a friend's loan account. Banks can also be hacked, account information stolen, or bank websites shut down in a DDoS attack. Banks also face the threat of viruses that could be placed in their networks, or hackers who gain access to confidential information and then use the network to warn them to sell it back.

Many smaller Banks simply outsource their network operations, which adds an additional burden to bank monitoring because internal controls may not be extended to vendors performing key functions. Thus, Basel bank defines this operational risk as a loss that may result from a major flaw in the reliability and integrity of the system. At the same time, the fdic's e-banking manual makes hardware and software failures, outages, protection, system or database leaks management considerations, and improper controls, policies and procedures pose operational risks. The bank also faces the risk of outdated technology and customer abuse, whether intentional or unintentional, affecting operational risk.

Violation of laws and regulations may result in legal risks. In the world of e-commerce, where technology and business are constantly changing, there is considerable ambiguity and uncertainty about legal rights. The basic issues of customer privacy and information disclosure, money laundering and liability issues, due to links to other websites, e-banking is still a potential legal issue. As a result of the computer theft, bankers will be liable for losses to customers' funds. The fdic lists such planning and implementation risks as uncertain and comprehensive bond insurance applicable to electronic activities. The agency also notes that the documentation required for the audit may be incomplete or lacking electronic transactions and systems.

Any issue involving safety or legal issues can seriously affect the reputation of the bank, which is especially important in the banking industry. Reputational risk can range from customer dissatisfaction with online services to security breaches and fraud, such as identity misrepresentation or "fraud", in which a bank customer is pointed at a fake website, which can lead to irreparable loss of trust between the customer and the bank. Any security breach could pose a considerable reputational risk to a bank that provides aggregation services. The 1998 Basel report on e-banking showed that reputational risk was so serious that if the reputation of a globally active bank was hit, it could affect the reputation of other Banks offering similar services, leading to "systemic destruction of the entire banking system".

There is no doubt that Internet banking will continue to exist. As Banks move into e-banking, many challenges and strategic choices emerge. Technology companies are threatening Banks' turf in account aggregation, B2B and C2C trading. The best option for Banks may be a strategic alliance with the technology companies that provide these services.

The development of e-commerce portals is the next frontier for established Internet businesses. Financial institutions' e-commerce portals can provide a variety of services and links, such as brokerage, insurance, real estate services, and related links. A vertical portal integrated with home banking, bill payment, account summary, and cash management functions is the only way to provide a meaningful online experience for Internet banking customers. However, smaller Banks may choose to participate in larger third-party portals and prefer to be hyperlinks from high-traffic portals.

Within the realm of electronic payment systems, Banks are also facing encroachment from non-bank technology companies. To this end, the federal reserve has established the payment systems development committee to strengthen innovation, identify barriers to such innovation, and discuss retail payments with the private sector.

Many Banks now see the wireless world as the next generation of electronic delivery. To find their role in the virtual world, Banks need to be aware of the issues involved and take active steps to reduce exposure through well-defined risk management policies and procedures.

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