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/ http://umpir.ump.edu.my/id/eprint/6972/1/Risk_Assessment_of_Technology_Change_in_Financial_Sector.pdf

id	ump-6972
recordtype	eprints
spelling	ump-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..
repository_type	Digital Repository
institution_category	Local University
institution	Universiti Malaysia Pahang
building	UMP Institutional Repository
collection	Online Access
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/ http://umpir.ump.edu.my/id/eprint/6972/1/Risk_Assessment_of_Technology_Change_in_Financial_Sector.pdf
first_indexed	2023-09-18T22:03:10Z
last_indexed	2023-09-18T22:03:10Z
_version_	1777414533299568640

Risk Assessment of Technology Change in Financial Sector

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