Online Financial Transaction Research Articles

Penyuluhan Strategi Keuangan Cerdas untuk UMKM di Era Digital di Kecamatan Pondok Aren

In recent years, advancements in digital applications have provided access for all layers of society to easier financial management than traditional methods at their fingertips. However, many small and medium enterprise (SME) operators are still not accustomed or effectively informed about their utilization for their businesses. This outreach aims to help SME operators adapt to the current digital access convenience in managing their business finances. There are various digital applications available that can assist SME operators in addressing issues such as non-positive sales growth, difficulties in accurately tracking operational transactions, or slow traditional funding assistance. This activity introduces ways to easily create financial projections and reports, utilize online financial transaction methods, and explore Fintech alternatives.

Influencing Factors for Internet Banking Adoption using Analytical Hierarchy Process (AHP) Approach

Internet banking is an online financial transaction approach that uses internet as the platform. Customers could perform their transactions anywhere and anytime. Current extensive researches from the literature have analyzed and investigated on various factors related to the internet banking adoption. Drawing from the various theories associated with acceptance model, this paper will combine these various predetermined factors into one model. Analytical Hierarchy Process (AHP), method was adapted in identifying the relevant multiple factors for the model. AHP is the best technique to use for mathematical calculation, to allow decision makers to prioritize their ranking to fit and resolve multiple criteria. The purpose of these paper is to prioritize the influencing factors to use internet banking. Based on the literature review, three main factors namely technical information, website and service availability had been identified as the main construct of the model and the sub factors were communication, responsiveness, privacy, ease of use, security, reliability and efficiency had been proposed into one integrated framework. These factors were identified by using Systematic Literature Review (SLR) methodology. Hence, the paper will deepen the understanding of the specific factors underpinned in the study of internet bankingadoption.

The effect of e-accounting and mediated by internal control system on the performance of SME in Iraq

E- accounting within the company add value to the company, such as high quality, fast decision making, cost reduction and easy to use so as to perform key activities in value chain effectively and efficiently, improve quality and improve efficiency (Suzan et al., 2020). Recently, the request to explore online financial transaction have been stipulated due to the soaring impact on the bureaucratic accomplishment (Al-Delawi and Ramo,2020). The existing literature indicates that various studies have been undertaken to examine how e-accounting influence the in-house control system and the concert, in the various theoretical frameworks. Nevertheless, researches which investigate the different magnitudes of e-accounting is relatively low. Only a few studies have examined the e-accounting characteristics on internal control system as well as its performance. Additionally, there seems to be a lack of research exploring how the above relationships are affected by the constructs. The current study, therefore, explores the link between the quality of information, cost savings, quick decision-making and easy to use by using e-accounting to tract the control system the inside the company and its performance. The relationship between the control system in the company and its output is explored by the current research. The research model comprises of a list presumption which is used to investigate the outcomes, and 345 accountants working at the commercial SME in Iraq are involved as the respondents. The analysis is conducted through Smart PLS to confirm that the e-accounting features impact the concert and the efficiency of internal control system positively. The results obtained is noteworthy in the theory and practice through a finer-grained in the understanding of the impact of SME in relation to the characteristics of e- accounting, the control system in the company and its presentation.

The Prospects and Challenges of Electronic Finance in Nigeria

The advance in electronic technologies is making impact in every aspect of human endeavour, including financial sector. With the ever increasing technology in enhancing financial security and providing financial inclusiveness, electronic finance (e-finance) has become a key factor for economic growth. The use of personal computer (PC), mobile phone, ATM, PoS, and internet facilities for online financial transaction is becoming increasingly common in Nigeria. This paper examined the prospects and challenges of electronic finance in Nigeria. The study was carried out using questionnaire randomly distributed to 60 respondents. Data obtained was analysed using statistical methods –frequency distributions tables and charts. The findings show that appreciable number of the respondents indicated high level of trust on e-payment system and also agree that e-finance system is very fast and convenient. However, reasonable number of the respondents disagree that network is always available or reliable.It was recommended that the government, telecommunication companies, and financial institutions corporate to ensure that network services are made available and reliable. The power supply system should be improved. The government should ensure that price of the PC (especially laptop) is reduced so more people can own computers at home. Finally, the growth of e-finance should be sustained with better policies. This will consequently bring about increasing financial inclusiveness.

A Review on Advanced Security Solutions in Online Banking Models

Online banking using mobile devices (mobile banking) is an effective and convenient way of providing electronic banking facility to customers from anywhere and at any time. The advent of mobile communication technology coupled with a boost in trade and commerce activity is increasingly driving the banking financial services to become ubiquitous, personalized, convenient, disseminative and secure. Realizing the advantages to be gained from mobile banking, financial institutions have begun to offer mobile banking options for their customers in addition to the internet banking they already provide. The large scale use of mobile phones in mobile banking has been closely followed by the increase in mobile fraud. Although eager to use mobile financial services, many subscribers are concerned about the security aspect when carrying out financial transactions over the mobile network. In fact, lack of security is seen as the biggest deterrent to the widespread adoption of mobile financial services. Hence, fraud prevention has become an essential ingredient in the success of online financial transactions. To enhance the security for the online financial transaction, a biometric fingerprint authentication system is proposed. In this paper, the feasibility and limitations of an advanced biometric fingerprint authentication system for mobile banking are discussed.

Privacy, security, infrastructure and cost issues in internet banking in the Philippines: initial trust formation

The overall purpose of this study is to develop an understanding of the issues that influence initial trust on behavioural intention to use internet banking in developing countries like the Philippines. The country has experienced sophisticated cyberattacks, slowest download internet speed and average internet costs per Mbps that are far above the global average standards. The study proposes and empirically tests if these issues influence initial trust formation with a sample of 454 local banks' customers who are non-users of internet banking services in the Philippines. Perceived costs, quality of infrastructure, privacy, security and disposition to trust were barriers to non-users' intentions to engage in any online financial transaction.

Strategic Impact of ICT on Modern Day Banking in Nigeria

This paper examined impact of ICT on modern day banking relating to Ecobank Plc, Abraka Nigeria. The scope of the study covered staff of Ecobank Plc Abraka. The descriptive survey research design was used for the study. The population of the study was 72 respondents. Questionnaire were used to collect data from 72 respondents. Simple percentage and frequency count were used to analyse the data. It was found out that computers, internet scanners photocopiers, printers, e-mails, telecommunication, ATM and www are the ICT facilities available for use in Ecobank Plc Abraka. It was also found out that ICT has impacted the activities of the bank in the areas of speed delivery, on-line financial transaction, mobile banking services, reduction of long queues and congestion in the banking hall, easy communication between staff and customers, etc. The paper recommended that more adequate ICT facilities should be provided in the bank for utilization and staff should be adequately trained on the use of ICT facilities for greater efficiency.

On gender differences in consumer behavior for online financial transaction of cosmetics

The popularity of the Internet has enabled a wide variety of services. Due to increasing pricing levels and material costs over years, enterprises have intended to lower their financial costs by Internet marketing and online financial transactions, by which renting cost, facility setup cost and manpower cost can be saved, and advertising cost is lowered for increasing the number of potential customers. Hence, Internet marketing and online financial transactions have become a market territory for which each enterprise competes. In the market, male consumers no longer mainly shop for 3C products online, and now are becoming more diverse in their shopping selections. Male cosmetics and skincare products comprise a market with great growth potential that is yet to be developed. The purpose of this study is to explore whether gender differences exist or not in perception, importance and satisfaction for online financial transactions of cosmetics. The online questionnaire survey method was used for this study. A total of 600 surveys were distributed. Once the invalid replies were excluded, a total of 567 effective samples were recovered. The results from this study show significant gender differences in the “amount of money spent per purchase of cosmetics”, “the most recent online purchase of cosmetics”, “the time spent on cosmetics”, “amount of money spent each month on cosmetics”, “amount of money spent per time on cosmetics”, “the time spent on buying cosmetics online” and “the satisfaction with the most recent online purchase of cosmetics”. There were also significant differences in the level of importance assigned to “brand reputation”, “fresh scent”, “natural ingredients”, “reasonable price”, “suitable skin type”, “professionalism of service personnel”, “recommended by advertising” and “ease of use”.

A Data Mining with Hybrid Approach Based Transaction Risk Score Generation Model (TRSGM) for Fraud Detection of Online Financial Transaction

a unique and hybrid approach containing data mining techniques, artificial intelligence and statistics in a single platform for fraud detection of online financial transaction, which combines evidences from current as well as past behavior. The proposed transaction risk generation model (TRSGM) consists of five major components, namely, DBSCAN algorithm, Linear equation, Rules, Data Warehouse and Bayes theorem. DBSCAN algorithm is used to form the clusters of past transaction amounts of the customer, find out the deviation of new incoming transaction amount and finds cluster coverage. The patterns generated by Transaction Pattern Generation Tool (TPGT) are used in Linear equation along with its weightage to generate a risk score for new incoming transaction. The guidelines shown in various web sites, print and electronic media as indication of online fraudulent transaction for Credit Card Company is implemented as rules in TRSGM. In the first four components, we determine the suspicion level of each incoming transaction based on the extent of its deviation from good pattern. The transaction is classified as genuine, fraudulent or suspicious depending on this initial belief. Once a transaction is found to be suspicious, belief is further strengthened or weakened according to its similarity with fraudulent or normal transaction history using Bayes theorem.