Assessment of Legal Challenges Relating to E-Banking in Financial Institutions

Nadiminti Viswanadham; Mavere Alexander

doi:doi:10.11648/j.ijfbr.20190503.12

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Assessment of Legal Challenges Relating to E-Banking in Financial Institutions

Nadiminti Viswanadham, Mavere Alexander

Published in International Journal of Finance and Banking Research (Volume 5, Issue 3)

Received: 6 January 2019 Accepted: 13 June 2019 Published: 12 July 2019

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Abstract

This research was carried out to assess legal challenges relating to E-Banking in financial institutions: A study of Commercial banks in Dodoma, Tanzania. This research was worth exploring since there is a high rise of E-Banking service users and the users are not aware of the legal implication of such services which in turn is the biggest challenge to E-Banking services. The objective of this research was to explore the challenges brought by the E-Banking system in relation to the Legal system in Tanzania by focusing specifically on legal risks that a customer is likely to face in e-banking, also the insecurity phenomenon associated with E- banking. Data gathering was done through: Interview, Questionnaire and literature review. The sample of the study consisted of 100 respondents. Respondents were randomly selectedfrom the streets who are commercial bank customers. The findings show that there are network problems, no governing laws/policies on e-banking, e- banking charges are high, authentication issues, losses in case of mistaken payment and no refund in case of an incompletetransaction.

Published in	International Journal of Finance and Banking Research (Volume 5, Issue 3)
DOI	10.11648/j.ijfbr.20190503.12
Page(s)	48-54
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2019. Published by Science Publishing Group

Keywords

E-banking, Legal Challenges, Banking Channels, Risk

References

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[2]	Sathye, M. (1999), "Adoption of Internet banking by Australian consumers: an empirical investigation", International Journal of Bank Marketing, 17 (7), pp. 324-34.
[3]	Mollel, A. (1996). The legal and regulatory framework for ICT in developing countries: Case study of ICT and the law of evidence in Tanzania.pp1-16. Available at http://cs.joensuu.fi/ipid2008/abstracts/Mollel Andrew_ICT4D PAPER.pdf (Accessed on 1-2-2011)
[4]	Kayuza H. M (2006) “Real property taxation in Tanzania: An investigation on implementation and taxpayer perceptions”, Doctoral Thesis Building, and Real Estate Economics, Stockholm: Royal Institute of Technology, Sweden.
[5]	J., Mazzon, J., & Hernandez, J. (2010). Mobile banking: proposition of an integrated adoption intention framework. International Journal of Bank Marketing Vol. 28 (5), 389-409.
[6]	Fishbein, M. and I. Ajzen (1975, 1980). "Belief, Attitude, Intention and Behavior: An Introduction to Theory and Research." Boston, Ma: Addison Wesley.
[7]	Shih, Y., & Fang, K. (2006). Effects of Network Quality Attributes on Customer Adoption Intentions of Internet Banking. Total Quality Management, 17 (1), 61–77.
[8]	Elinaza, A. (2011), “E- Banking in Tanzania” Daily News Magazine of 22nd June.
[9]	Davis, F. (1989). Perceived usefulness, perceived ease of use, &user acceptance of information technology. MIS Quarterly, 13(3), 319-339.
[10]	Venkatesh, V., Morris, M., Davis, G., & Davis, F. (2003). User acceptance of information technology.
[11]	Mobarek, A. (2007), “E-Banking Practices and Customer Satisfaction - A Case Study in Botswana”, Retrieved on May 14, 2013, from http://papers.ssrn.com/sol3/papers. Cfm?
[12]	Schaechter, A. (2002). Issues in electronic banking: An overview. pp 10-20. Available at http://www.imf.org/external/pubs/ft/.../2002/pdf06.pdf. (Accessed on 17-4- 2012)8
[13]	Adam J. Mamba, (2010) Cyber Law in Tanzania & East African Community. ICT Law Book: Adam N. Dogramaci O. Gangopadhyay A. Yesha Y. (1999). Electronic Commerce: Technical, Business and Legal Issues. Prentice-Hall, New Jersey.
[14]	Mollel, A., &Lukumay, Z. (2008). Electronic transactions and the law of evidence in Tanzania. Iringa: Peramiho Printing Press.
[15]	Yousafzai, S., Foxall, G, &Pallister, J. (2010). “Explaining Internet Banking Behavior”: TRA, TPB or TAM? Journal of Applied Social Psychology, 40 (5), 1172-1202.
[16]	Sokolov, D., ‘E-banking: Risk Management Practices of the Estonian Banks’ Working Papers in Economics. School of Economics and Business Administration, Tallinn University of Technology (TUTWPE), (2007) 22 (156), pp. 21-37.
[17]	Lloyds, J. (2008). Information technology law, 5th Ed, United States of America: Oxford University Press.
[18]	UNCTAD Information Economy Report 2008 at page xxxi sees also George S. O. (2011): The Prospects and Barriers of E-Commerce Implementation in Tanzania. Retrieved on 1^st May 2011 fromhttp://www.tzonline.org/pdf/liberalisationofthebankiningindustry.p 4

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APA Style

Nadiminti Viswanadham, Mavere Alexander. (2019). Assessment of Legal Challenges Relating to E-Banking in Financial Institutions. International Journal of Finance and Banking Research, 5(3), 48-54. https://doi.org/10.11648/j.ijfbr.20190503.12

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ACS Style

Nadiminti Viswanadham; Mavere Alexander. Assessment of Legal Challenges Relating to E-Banking in Financial Institutions. Int. J. Finance Bank. Res. 2019, 5(3), 48-54. doi: 10.11648/j.ijfbr.20190503.12

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AMA Style

Nadiminti Viswanadham, Mavere Alexander. Assessment of Legal Challenges Relating to E-Banking in Financial Institutions. Int J Finance Bank Res. 2019;5(3):48-54. doi: 10.11648/j.ijfbr.20190503.12

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@article{10.11648/j.ijfbr.20190503.12,
  author = {Nadiminti Viswanadham and Mavere Alexander},
  title = {Assessment of Legal Challenges Relating to E-Banking in Financial Institutions},
  journal = {International Journal of Finance and Banking Research},
  volume = {5},
  number = {3},
  pages = {48-54},
  doi = {10.11648/j.ijfbr.20190503.12},
  url = {https://doi.org/10.11648/j.ijfbr.20190503.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijfbr.20190503.12},
  abstract = {This research was carried out to assess legal challenges relating to E-Banking in financial institutions: A study of Commercial banks in Dodoma, Tanzania. This research was worth exploring since there is a high rise of E-Banking service users and the users are not aware of the legal implication of such services which in turn is the biggest challenge to E-Banking services. The objective of this research was to explore the challenges brought by the E-Banking system in relation to the Legal system in Tanzania by focusing specifically on legal risks that a customer is likely to face in e-banking, also the insecurity phenomenon associated with E- banking. Data gathering was done through: Interview, Questionnaire and literature review. The sample of the study consisted of 100 respondents. Respondents were randomly selectedfrom the streets who are commercial bank customers. The findings show that there are network problems, no governing laws/policies on e-banking, e- banking charges are high, authentication issues, losses in case of mistaken payment and no refund in case of an incompletetransaction.},
 year = {2019}
}

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TY  - JOUR
T1  - Assessment of Legal Challenges Relating to E-Banking in Financial Institutions
AU  - Nadiminti Viswanadham
AU  - Mavere Alexander
Y1  - 2019/07/12
PY  - 2019
N1  - https://doi.org/10.11648/j.ijfbr.20190503.12
DO  - 10.11648/j.ijfbr.20190503.12
T2  - International Journal of Finance and Banking Research
JF  - International Journal of Finance and Banking Research
JO  - International Journal of Finance and Banking Research
SP  - 48
EP  - 54
PB  - Science Publishing Group
SN  - 2472-2278
UR  - https://doi.org/10.11648/j.ijfbr.20190503.12
AB  - This research was carried out to assess legal challenges relating to E-Banking in financial institutions: A study of Commercial banks in Dodoma, Tanzania. This research was worth exploring since there is a high rise of E-Banking service users and the users are not aware of the legal implication of such services which in turn is the biggest challenge to E-Banking services. The objective of this research was to explore the challenges brought by the E-Banking system in relation to the Legal system in Tanzania by focusing specifically on legal risks that a customer is likely to face in e-banking, also the insecurity phenomenon associated with E- banking. Data gathering was done through: Interview, Questionnaire and literature review. The sample of the study consisted of 100 respondents. Respondents were randomly selectedfrom the streets who are commercial bank customers. The findings show that there are network problems, no governing laws/policies on e-banking, e- banking charges are high, authentication issues, losses in case of mistaken payment and no refund in case of an incompletetransaction.
VL  - 5
IS  - 3
ER  -

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Author Information

Nadiminti Viswanadham

Department of Accounting and Finance, University of Dodoma, Dodoma, Tanzania
Mavere Alexander

Department of Business Administration, University of Dodoma, Dodoma, Tanzania

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APA Style

Nadiminti Viswanadham, Mavere Alexander. (2019). Assessment of Legal Challenges Relating to E-Banking in Financial Institutions. International Journal of Finance and Banking Research, 5(3), 48-54. https://doi.org/10.11648/j.ijfbr.20190503.12

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ACS Style

Nadiminti Viswanadham; Mavere Alexander. Assessment of Legal Challenges Relating to E-Banking in Financial Institutions. Int. J. Finance Bank. Res. 2019, 5(3), 48-54. doi: 10.11648/j.ijfbr.20190503.12

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AMA Style

Nadiminti Viswanadham, Mavere Alexander. Assessment of Legal Challenges Relating to E-Banking in Financial Institutions. Int J Finance Bank Res. 2019;5(3):48-54. doi: 10.11648/j.ijfbr.20190503.12

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@article{10.11648/j.ijfbr.20190503.12,
  author = {Nadiminti Viswanadham and Mavere Alexander},
  title = {Assessment of Legal Challenges Relating to E-Banking in Financial Institutions},
  journal = {International Journal of Finance and Banking Research},
  volume = {5},
  number = {3},
  pages = {48-54},
  doi = {10.11648/j.ijfbr.20190503.12},
  url = {https://doi.org/10.11648/j.ijfbr.20190503.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijfbr.20190503.12},
  abstract = {This research was carried out to assess legal challenges relating to E-Banking in financial institutions: A study of Commercial banks in Dodoma, Tanzania. This research was worth exploring since there is a high rise of E-Banking service users and the users are not aware of the legal implication of such services which in turn is the biggest challenge to E-Banking services. The objective of this research was to explore the challenges brought by the E-Banking system in relation to the Legal system in Tanzania by focusing specifically on legal risks that a customer is likely to face in e-banking, also the insecurity phenomenon associated with E- banking. Data gathering was done through: Interview, Questionnaire and literature review. The sample of the study consisted of 100 respondents. Respondents were randomly selectedfrom the streets who are commercial bank customers. The findings show that there are network problems, no governing laws/policies on e-banking, e- banking charges are high, authentication issues, losses in case of mistaken payment and no refund in case of an incompletetransaction.},
 year = {2019}
}

Copy | Download

TY  - JOUR
T1  - Assessment of Legal Challenges Relating to E-Banking in Financial Institutions
AU  - Nadiminti Viswanadham
AU  - Mavere Alexander
Y1  - 2019/07/12
PY  - 2019
N1  - https://doi.org/10.11648/j.ijfbr.20190503.12
DO  - 10.11648/j.ijfbr.20190503.12
T2  - International Journal of Finance and Banking Research
JF  - International Journal of Finance and Banking Research
JO  - International Journal of Finance and Banking Research
SP  - 48
EP  - 54
PB  - Science Publishing Group
SN  - 2472-2278
UR  - https://doi.org/10.11648/j.ijfbr.20190503.12
AB  - This research was carried out to assess legal challenges relating to E-Banking in financial institutions: A study of Commercial banks in Dodoma, Tanzania. This research was worth exploring since there is a high rise of E-Banking service users and the users are not aware of the legal implication of such services which in turn is the biggest challenge to E-Banking services. The objective of this research was to explore the challenges brought by the E-Banking system in relation to the Legal system in Tanzania by focusing specifically on legal risks that a customer is likely to face in e-banking, also the insecurity phenomenon associated with E- banking. Data gathering was done through: Interview, Questionnaire and literature review. The sample of the study consisted of 100 respondents. Respondents were randomly selectedfrom the streets who are commercial bank customers. The findings show that there are network problems, no governing laws/policies on e-banking, e- banking charges are high, authentication issues, losses in case of mistaken payment and no refund in case of an incompletetransaction.
VL  - 5
IS  - 3
ER  -

Copy | Download