Definition of electronic banking and electronic money, Corporate Finance

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Question:

(a) Give a definition of electronic banking and electronic money.

(b) Outline the main differences between smart cards, credit cards and debit cards.

(c) Give four examples of operational risks associated with e-banking and write short notes on how each one could be manifested.
(d) (i) Give two examples of reputational risk in e-banking.

(ii) Name the potential effects of reputational risk on the banking organisation.

(iii) Give the possible risk management measures that could be employed to tackle reputational risk.

(e) What do you understand by the term "non-repudiation"? What can be done to prevent non-repudiation of transactions?

(f) Explain what are audit trails and why are they important in e-banking.

(g) Give one benefit of e-banking from the point of view of each of the following:

(i) bank,
(ii) private customers, and
(iii) corporate customers.


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