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Risk Assessment of Technology Change in Financial Sector

A review of current risk management practices among Internet banking providers is presented given the increasing breach of security incidents worldwide. In-depth analysis is performed using Internet banking guidelines issued by three central banks (Central Bank of Malaysia, Monetary Authority of Sin...

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Main Authors: Lim, Qian Pink, Mohd Ridzuan, Darun
Format: Conference or Workshop Item
Language:English
Published: 2014
Subjects:
HG Finance
Online Access:http://umpir.ump.edu.my/id/eprint/6972/1/Risk_Assessment_of_Technology_Change_in_Financial_Sector.pdf
http://umpir.ump.edu.my/id/eprint/6972/
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spelling my.ump.umpir.69722015-03-03T09:33:31Z http://umpir.ump.edu.my/id/eprint/6972/ Risk Assessment of Technology Change in Financial Sector Lim, Qian Pink Mohd Ridzuan, Darun HG Finance A review of current risk management practices among Internet banking providers is presented given the increasing breach of security incidents worldwide. In-depth analysis is performed using Internet banking guidelines issued by three central banks (Central Bank of Malaysia, Monetary Authority of Singapore and Hong Kong Monetary Authority). Three distinctive risks are identified (informational security, transactional and strategic risks) as the most relevant among the guidelines studied. These risks are then mapped against threats towards achieving bank’s goals using Sheehan’s Risk Based Approach to Strategy Execution framework. The likelihood and magnitude of each risk was evaluated based on different perspectives proposed in the strategy map. The analysis concludes that gradual migration towards internalisation of essential processes is central to improving internet banking security. Future research should aim to gather richer sources of information through interviews with banking personnel to gain better insight into risks and how they are managed. 2014 Conference or Workshop Item PeerReviewed application/pdf en http://umpir.ump.edu.my/id/eprint/6972/1/Risk_Assessment_of_Technology_Change_in_Financial_Sector.pdf Lim, Qian Pink and Mohd Ridzuan, Darun (2014) Risk Assessment of Technology Change in Financial Sector. In: Proceedings of 5th Asia-Pacific Business Research Conference, 17-18 February 2014 , Kuala Lumpur. pp. 1-15..
institution Universiti Malaysia Pahang
building UMP Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Malaysia Pahang
content_source UMP Institutional Repository
url_provider http://umpir.ump.edu.my/
language English
topic HG Finance
spellingShingle HG Finance
Lim, Qian Pink
Mohd Ridzuan, Darun
Risk Assessment of Technology Change in Financial Sector
description A review of current risk management practices among Internet banking providers is presented given the increasing breach of security incidents worldwide. In-depth analysis is performed using Internet banking guidelines issued by three central banks (Central Bank of Malaysia, Monetary Authority of Singapore and Hong Kong Monetary Authority). Three distinctive risks are identified (informational security, transactional and strategic risks) as the most relevant among the guidelines studied. These risks are then mapped against threats towards achieving bank’s goals using Sheehan’s Risk Based Approach to Strategy Execution framework. The likelihood and magnitude of each risk was evaluated based on different perspectives proposed in the strategy map. The analysis concludes that gradual migration towards internalisation of essential processes is central to improving internet banking security. Future research should aim to gather richer sources of information through interviews with banking personnel to gain better insight into risks and how they are managed.
format Conference or Workshop Item
author Lim, Qian Pink
Mohd Ridzuan, Darun
author_facet Lim, Qian Pink
Mohd Ridzuan, Darun
author_sort Lim, Qian Pink
title Risk Assessment of Technology Change in Financial Sector
title_short Risk Assessment of Technology Change in Financial Sector
title_full Risk Assessment of Technology Change in Financial Sector
title_fullStr Risk Assessment of Technology Change in Financial Sector
title_full_unstemmed Risk Assessment of Technology Change in Financial Sector
title_sort risk assessment of technology change in financial sector
publishDate 2014
url http://umpir.ump.edu.my/id/eprint/6972/1/Risk_Assessment_of_Technology_Change_in_Financial_Sector.pdf
http://umpir.ump.edu.my/id/eprint/6972/
_version_ 1643665503126814720
score 13.211869

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