...Internet Banking (Fig. 1) is a product of e-commerce in the field of banking and financial services. In what can be described as B2C domain for banking industry, Internet Banking offers different online services like balance enquiry, requests for cheque books, recording stop-payment instructions, balance transfer instructions, account opening and other forms of traditional banking services. Mostly, these are traditional services offered through Internet as a new delivery channel. Banks are also offering payment services on behalf of their customers who shop in different e-shops, emalls etc. Further, different banks have different levels of such services offered. Regulations and guidelines issued by some countries include the following. 1. Requirement to notify about web site content 2. Prior authorization based on risk assessment made by external auditors 3. On-site examination of third party service providers 4. Off-site policing the perimeters to look for infringement. 5. Prohibition on hyper links to non bank business sites 6. Specification of the architecture Broadly, the levels of banking services offered through INTERNET can be categorized in to three types: (i) The Basic Level Service is the banks’ websites which disseminateinformation on different products and services offered to customers and members of public in general. It may receive and reply to customers’ queries through e-mail, (ii) In the next level are Simple Transactional Websites which...
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...PERCEIVED RISK AND THEIR INFLUENCES ON ONLINE SHOPPING Major Project Report Submitted for the partial fulfillment of the requirement for the award Of Master in Business Administration Submitted by: Under the Guidence Kamal Kumar Dr. Vibhuti Tripathi 2012MB35 School of Management Studies Motilal Nehru National Institute of Technology Allahabad – 211004 May, 2014 Introduction Online Shopping There are many factors that point toward the potential for rapid growth of online shopping in India. In terms of education, India annually produces 2 million college graduates including approximately 200,000 engineers and 300,000 technically qualified graduates. The government of India has been heavily promoting investment in the telecom sector in recent years with the number of telephones increasing from 55 million in 2003 to 621 million in 2010. During the same period, broadband subscribers grew from .2 million to 8.8 million. Penetration of the internet, however, is comparatively lower at 6.9 percent of the population in 2009 compared to the world average of 26.8 percent (Internet World Stats, 2010), pointing to growth potential in the Indian market. Electronic payment in India is also steadily increasing thanks to a large young population with growing disposable incomes. There is evidence that the current economic crisis encourages online shopping as more and more Indian shoppers are motivated to compare prices among retailers...
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...ASIAN UNIVERSITY Of BANGLADESH ASSIGNMENT ON Information Technology Risk In The Banking Sector IN Bangladesh Course Title: Working Capital Management Course Code: BBA-4122 Submitted To: Md. Munsur Ahamed Lecturer, Department of Finance,AUB Submitted By Group-E Name | ID NO: | BATCH | SECTION | Nargis Akter | 200820324 | 33rd | Finance(A) | Shamima Ferdaus | 200820558 | 33rd | “ | Syeada Kohenur Begum | 200820786 | 33rd | “ | Umma kulsum | 200820367 | 33rd | “ | Umme kulsum Binte Nazrul | 200820554 | 33rd | “ | Submission Date: 25-March-2012 DEDICATION PAGE I want to dedicate this Assignment to my honorable teacher Munsur Ahamed (Lecturer , Department of Finance, AUB ), who encourage and help me utmost to complete such a typical assignment. ACKONOLEDGEMENT PAGE I attempt to make a typical assignment, to complete these assignment many person help me. Thanks my honorable teacher Munsur Ahamed ( lecturer , Department Finance AUB. ) To collect some information I got help from many books and Internet so thanks Asian University Library and computer lab thanks my all friends who help me to complete a good assignment. At last thanks to Almighty Allah. Information Technology Risk In The Banking Sector In Bangladesh Abstract Continuous technological development, particularly, information technology revolution of the last two decades of the 20th century has forced the banks to introduce the e-banking operation for...
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...Computer and Mathematical Science ,Universiti Teknologi MARA (UiTM) Malaysia . 3 ABSTRACT : E-commerce is a successful business-based innovation via internet. This form of business transaction strategy offers many opportunities for growth in business and marketing services in various aspects. Online shopping is an intermediary mode between marketers or sellers to the end user or the consumers. Nature of online transaction in Libya is constrained by instability resulting from insecurity, unprotected transaction as well as trust. Online shopping could become predominant source of shopping method, if the barriers associated with insecurity, trust and customer’s protection are tackled. Owing to the significance of e-commerce towards Libyan economic growth, this paper highlights the limitations associated with e-commerce transaction in Libya and proposes relevant steps towards overcoming these constrains. Relevance of integrating e-commerce in Libyan economic system is discussed with. Keywords: E-commerce, online shopping, security, protection, trust . I.INTRODUCTION E-commerce encompasses buying and selling of products and services through electronic systems such as internet and other computer related networks. Recently, rapid global growth in ecommerce has increasingly become necessary component of business strategy for efficient transaction. E-commerce technology in business...
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...SUMMARY New communication technologies are constantly making an appearance in the everyday lives of consumers. Use of the Internet is now not only confined to the personal computer but is used on mobile devices such as cell phones. The synergies created by coupling business transactions with mobile devices and the Internet has created a new type of technology called mobile commerce-where business transactions to take place over mobile devices. The purpose of this report is to analyze the mobile commerce technology and the values it adds for its users. It will also evaluate the applications and risks associated with use of mobile commerce. Based on the analysis, a set of recommendations will follow. The research conducted for this report consists of information gathered from secondary sources. Academic journals found in the Business Source Complete database and business news and industry websites were used. Mobile commerce adds four main values for its users. These values include ubiquity, the ability to access information anywhere, anytime; personalization, the ability to access information relevant to a specific set of preferences; localization, the ability to send and receive information that is relevant to a person’s geographical location; and convenience, the ability to create efficiencies in time and place. There are several risks involved with the implementation and use of mobile commerce. In some jurisdictions, use of a mobile device while operating a...
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...CHAPTER ONE 1.0 INTRODUCTION 1.1 BACKGROUND OF THE STUDY Electronic banking has long been recognized to play an important role in economic development on the basis of their ability to create liquidity in the economy through financial intermediation between savers and borrowers. It also offers financial services and products that accelerate settlement of transactions and in the process reduce cash intensity in the financial system, encourage banking culture, and catalyses economic growth. However, for the effective functioning of the financial system, the payment systems must be safe and efficient; otherwise they can be a channel for the transmission of disturbances from one part of the economy or financial system to others. This is why central bank have been active in promoting sound and efficient payments system and in seeking the means to reduce risks associated with the system. Nigeria historically operated a cash-driven economy particularly in the consumer sector, however the system has witnessed improvements over the years, and particular in recent times has moved from its rudimentary level of the early years of banking business to the current state of sophistication comparable to other economies at the same level of development. One important reason for financial liberalization and deregulation is the need to develop a good payment system which promotes an appropriate mechanism for efficiency in mobilizing and allocating financial resources in the economy. The payment...
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...complex financial products on a global basis and even that just in recent years. Derivatives are obviously the most evident of the many products that technology has inspired, but the substantial increase in our calculation has permitted a variety of other products and, most beneficially, new ways to unbundled risk. What is really quite extraordinary is that there is no sign that this process of acceleration in financial technology is approaching an end. We are moving at an exceptionally rapid pace, fueled not only by the enhanced mathematical applications produced by our ever rising computing capabilities but also by our expanding telecommunications capabilities and the associated substantial broadening of our markets. All the new financial products that have been created in recent years contribute economic value by unbundling risks and reallocating them in a highly calibrated manner. The rising share of finance in the business output of India and other countries is a measure of the economic value added by the ability of these new instruments and techniques to enhance the process of wealth creation. The reason of course, is that information is critical to the evaluation of risk. The...
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...Foreign Exchange Risk Management Michael Highfill Liberty University BUSI 620 – B05 LUO Dr. Mike Thirtle July 6, 2012 Foreign Exchange Risk Management Introduction Foreign exchange (FX) is a risk factor that must be considered by all firms that wish to enter, grow, and succeed in the global marketplace. Although most U.S. exporters prefer to sell their goods in U.S. dollars, creditworthy foreign buyers are increasingly demanding to pay in their local currencies (“Foreign Exchange Risk Management”, n.d.). Therefore, this currency exchange adds risk to any global trade that must be accounted for and managed, for a firm to remain competitive in the global marketplace. Definitions Foreign Exchange Risk Before we begin our discussion, we must define a working definition of foreign exchange risk. Global commerce is facilitated through foreign exchange markets. These markets affect global commerce in two ways. First, importers exchange their domestic currency for foreign currency, in order to purchase international goods. Second, multinational companies exchange profits earned in foreign currencies for domestic currency to use in their home nation. The foreign currency exchange market is made up of corporations, governments, and private individuals who trade international currencies among themselves (Bofah, n.d.a). The exchange rates for currency pairs such as the United States (U.S.) dollar and the Euro (USD/EUR)...
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... today the internet has changed the way business is conducted with the introduction of e-commerce. E-commerce refers to any form of business or administrative activities or information exchange that is executed using any information and communication technology (Duffy and Dale, 2002). Incorporating technology in the way business transactions are conducted has provided organizations with readily available and inexpensive information about any product or service from virtually any market in the world. This trend has been facilitated by falling trade barriers, more efficient logistics, the emergence of country specific portals, and web exchanges. One form of e-commerce is B2B (Business to Business) transactions. Several sites world-wide are considered bazaars of international trade that facilitate B2B transactions such as: www.Koreatradeworld.com, www.Trade-india.com, www.bizeurope.com, www.tradekey.com and others. The mission of these sites is to connect sellers in one place with buyers in another place in an effort for buyers and sellers of everything to find each other, negotiate the terms of trade, and seal the deal. They also provide companies with powerful B2B tools that improve the mechanics of trade such as export training, cyber trade infrastructure, international special exhibitions, virtual trade shows, and trade strategies. Taking a closer look at one of the sites promoting B2B international trade is Alibaba.com. Alibaba is a Chinese internet company founded...
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...environment of mutual mistrust between the bank and the system users. The present day payment systems fall into two large categories: account-based systems and token-based systems. Token-based systems such as paper cash, pre-paid phone cards or mail stamps, do not identify its users. A pre-paid phone card, for example, does not distinguish one caller from the other. Account-based systems such as checks, credit cards or bank accounts need, by design, to identify the system users and their transactions. People like to use paper cash because it is easy to carry around, they can make a payment with the received cash and they don’t need to ask a third party like a bank to perform their payments. Paper cash can, however, be stolen or lost and no one compensates for the lost or stolen money. Credit cards reduces risk of lost cash for people, but by using electronic money people are in the risk of losing their privacy. Annually, credit card companies and banks lose large sums of money since they are required to compensate for lost cards and the costs associated with fraud and human error. In light of the explosive increase of electronic services such as Internet, the need for more efficient electronic payments has become an essential fact. Since anonymity of payments is usually associated with anonymity of paper cash, an anonymous token-based electronic payment system is referred to as digital cash (also known as electronic cash, e-cash, D-cash). Digital cash offers a solution...
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...FIN 535 – International Finance COURSE DESCRIPTION Presents international financial tools, applications, and concepts used in formulating effective financial management strategies. Examines fundamental international financial relationships and transactions among firms, foreign exchange rate determination and forecasting, foreign exchange risk and exposure, balance of payment accounting, and evolution of the international monetary system. Analyzes special topics such as working capital management strategies, capital budgeting, cost of capital, and optimal capital structure in the context of international operations. INSTRUCTIONAL MATERIALS Required Resources Madura, J. (2012). International financial management (11th ed.). Mason, OH: South-Western, Cengage Learning. Supplemental Resources Al Nasser, O.M. (2010). How does foreign direct investment affect economic growth? The role of local conditions. Latin American Business Review 11, 111-139. Kornecki, L. & E. M. Ekanayake. (2011). Inward FDI stock in the U.S. economy and state based determinants. Advances in Management, 4(6), 13-24. Ranjan, V. & Agrawal, G. (2011). FDI inflow determinants in BRIC countries: A panel data analysis. International Business Research, 4(4), 255-263. United Nations. (2011). Foreign Direct Investments in LDCs: Lessons learned from the decade 20012010 and the way forward. United National Conference on Trade and Development. COURSE LEARNING OUTCOMES 1. Compare multinational financial management...
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...Concepts Statement No. 2, Qualitative Characteristics of Accounting Information FASB Concepts Statement No. 6, Elements of Financial Statements AICPA Statement of Position 81-1, Accounting for Performance of Construction-Type and Certain Production-Type Contracts SEC Staff Accounting Bulletin No. 101, Revenue Recognition in Financial Statements SEC Staff Accounting Bulletin No. 101B, Second Amendment: Revenue Recognition in Financial Statements SEC Regulation S-X, Rule 5-03, Income Statements 1. Diversity exists regarding whether a company should report revenue based on (a) the gross amount billed to a customer because it has earned revenue from the sale of the goods or services or (b) the net amount retained (that is, the amount billed to a customer less the amount paid to a supplier) because it has earned a commission or fee. The issue often arises with companies that sell goods or services over the Internet. Many of those companies do not stock inventory and may arrange...
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...ABSTRACT Electronic banking is a subject receiving great attention in the banking industry and the regulation agencies. It is a driving force that is changing the landscape of the banking industry. It has blurred the boundaries between different financial institutions, enabled new financial, products and services and made existing financial services available in different packages. Some analysis argue that electronic banking is revolutionizing the banking industry, others see it as simply complementing the physical banking branches; irrespective of its own merits there are diverse challenges and problems associated with this form of banking in Nigeria. The main research instruments used are questionnaires and personal interview for staff and customers of various banks, primary and secondary method of data collection were used. The simple frequency percentage was adopted as the statistical measure and hypothesis testing was analyzed using chi-square. In conclusion, the study revealed that electronic banking despite its challenges has led to increased efficiency in banking and its service ,cost-reduction in banks, and reduction of waiting time experience in the banks. The research recommended that banks should follow the stipulated electronic banking guidelines of the central bank of Nigeria. Government should accelerate actions that will enable a good environment and the growth of the banking sector. CHAPTER ONE INTRODUCTION 1.0 BACKGROUND...
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...The following report will seek to explain the difference between E-Business and E-Commerce providing examples where applicable to support the answer. Most if not all companies nowadays have realized that the Internet is not only here to stay but that its influence in the way business is conducted will increase with the passage of time. We have all heard the terms e-business and e-commerce being used quite frequently but what do these terms really mean and what are the differences between the two terms that are being used. E -business and e-commerce are terms that are used to differentiate one vendors' product from another. Both terms are different, and that difference matters for today's companies. The ‘e’ stands for electronic networks and...
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...located in Portugal, founded in 1990s as a security corporation that A helped with Internet fraud. - Clients then; banks in Europe - Opportunity to enter the US market - Competition from Asian market - resulting in lower profits - Internet burst in 1999 The Bid - entering the US market If the VSC company would win the bid it could mean an increase in net income, which was important for the VSC company. VSC was awarded the contract and won thereby the bid. Six months to create the hardware and soft for the US company Outstanding reputation in Europe not US. The reputation of the company would rely on the delivery to this US company. Lost money because of changes in exchange rate. Lower risk for further loss of money (see the case) Questions to the case: 1. What type of international business transaction is VSC planning to undertake, and what expected international financial flows are involved in this transaction? 2. What risks are associated with these expected financial flows? 3. How can VSC protect itself against these risks using real or financial hedging? 4. What alternative or method for insuring against risk do you recommend VSC to use? Why? Alternativt resultat givet af Camilla på BB: We had the challenge that there are some competing solutions from a more financebased view floating around on the Internet. Notice that the case was slightly altered and some information was changed in th...
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