Challenges of Modern Electronic Banking

Izdanje: Sinteza 2016 - International Scientific Conference on ICT and E-Business Related Research

DOI: 10.15308/Sinteza-2016-442-447


Electronic banking as a set of different ways of performing financial transactions using information and telecommunication technology provides the benefits of temporal and spatial limitlessness, speed of transactions, low prices and a wide range of banking products and services. On the other hand, apart from the obvious advantages, e-banking incorporates certain risks that need to be precisely identified and managed. This is the reason why the Basel Committee on Banking Supervision established a task group called EBG (Electronic Banking Group) that consists of banking supervisors and central banks. The group has come to a conclusion that electronic banking impacts some of the traditional risks, modifying and augmenting them, this primarily referring to strategic, operational and reputational risks. Specific challenges of e-banking services relate to rapid changes, increased dependence on the design and system, the trend toward unregulated outsourcing and heightened importance of security controls. The principles of risk management in traditional banking are applicable to e-banking activities, but the complexities of the Internet dictate that the application of these principles be adjusted to on-line banking activities and related challenges. Because of rapid changes in technology, risk management principles of electronic banking are not given as mandatory requirements or strict regulations but as guidelines that express supervisory expectations, the aim being to ensure safety and stability of the financial system. Any rigidity in the regulation of e-banking may be counterproductive because such solutions would quickly become outdated due to a fast pace of technological change.
Ključne reči: e-banking, Internet, technology innovation, risk

Preuzimanje citata:

BibTeX format
  author  = {Z. Jović, G. Ćorić and I. Pejović}, 
  title   = {Challenges of Modern Electronic Banking},
  journal = {Sinteza 2016 - International Scientific Conference on ICT and E-Business Related Research},
  year    = 2016,
  doi     = {10.15308/Sinteza-2016-442-447}
RefWorks Tagged format
RT Conference Proceedings
A1 Zoran Jović
A1 Goran Ćorić
A1 Igor Pejović
T1 Challenges of Modern Electronic Banking
AD International Scientific Conference Sinteza, Beograd, Srbija
YR 2016
NO doi: 10.15308/Sinteza-2016-442-447
Unapred formatirani prikaz citata
Z. Jović, G. Ćorić and I. Pejović, Challenges of Modern Electronic Banking, International Scientific Conference Sinteza, 2016, doi:10.15308/Sinteza-2016-442-447