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.
Highlights
Technology facilitated service delivery, have the potential to benefit customers, employees and management alike
ATMs, mobile banking and online bill payments facilities to vendors and utility service providers almost obviated the need for customers to visit a branch
Most of the rural areas in Tanzania are not connected with banking infrastructure, people are supposed to travel many kilometers to get banking services, but the introduction of the e banking through the use of mobile phone money transactions helps those people in rural areas to access financial services compared to the past
Summary
Technology facilitated service delivery, have the potential to benefit customers, employees and management alike. Customers can be offered additional or extended services, greater convenience and control, potentially more reliable information delivery, access to data and support services that may not have been otherwise available and the ability to conduct transactions in such a way that does not necessitate the customer visiting the service organization. Technology has been implemented successfully in the delivery of many services as an aid to the front-line employee who interacts with the customer Not so long ago, accessing our own money was about setting aside a coupleofhours, getting tothe bank before closing time, standing in one queue to get a token and in another to collect thecash
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