Web Banking Research Articles

Digital finance infrastructure and growth of commercial banking firms in Nigeria

This study delves into the intricate relationship between digital finance infrastructure and the growth of commercial banking firms in Nigeria. Through a comprehensive analysis of various financial indicators and statistical tests, we offer critical insights into the dynamics of the Nigerian banking sector. The findings reveal a resilient and steadily growing banking industry, even in the face of economic challenges and the global COVID-19 pandemic. Key highlights include the exponential rise in digital infrastructure, exemplified by the proliferation of Automated Teller Machines (ATMs), Point of Sale (POS) machines, and web banking accounts. These digital channels have significantly influenced the accessibility and convenience of banking services in Nigeria. Our analysis employs correlation, regression, and Granger causality tests to explore the intricate relationships between bank total assets and digital infrastructure components. While positive correlations between bank total assets and digital infrastructure components suggest a strong link between technological expansion and banking growth, the analysis reveals nuanced relationships. Furthermore, while web banking accounts have grown significantly, their influence on bank total assets remains limited. Our findings emphasize the paramount importance of continued investments in digital finance infrastructure for the Nigerian banking sector's growth. However, they also underscore the need for a more profound understanding of the underlying drivers of these trends. This study offers valuable insights for policymakers, financial institutions, and researchers interested in fostering financial inclusion and optimizing digital banking services in Nigeria's ever-evolving financial landscape. In conclusion, this study highlights the critical role of digital finance infrastructure in driving the growth of commercial banking firms in Nigeria, while also calling for more targeted strategies to maximize the benefits of technological advancements in the banking sector.

Finametric Analysis of Financial Innovation and Economic Growth in Nigeria

The study empirically investigates the effect of financial innovation on economic growth in Nigeria using quarterly time series data spanning through the periods of 2010 to 2021 while historical data design was adopted for the study. The Gross Domestic Product was used as proxy for the dependent variable while Automated teller machine, Web banking, Mobile banking and Point of sale transactions were adopted as proxies for the independent variables. The Augmented Dickey Fuller (ADF), Phillips-Perron, Breusch-Pagan-Godfrey heteroskedasticity test, CUSUM test, Johansen cointegration test, Parsimonious Error Correction model and the fully modified Least Square were used for the data analysis. The outcome of the Johansen Cointegration and the fully modified least squares indicated evidence of long-run relationship between financial innovation and economic growth in Nigeria. From the foregoing, the study concludes that the adoption of financial innovation enhances economic growth in Nigeria. Based on the findings, the study suggests that appropriate policies should be formulated to build the confidence of customers regarding the reliability of financial innovation products.

Development of Infrastructure and Invoices of Web Banking Software Based on Coreless Banking

Development of Infrastructure and Invoices of Web Banking Software Based on Coreless Banking

Digital Financial Services and Economic Growth of Nigeria: 2006 – 2021

This study investigated digital financial services and economic growth of Nigeria from 2006 to 2021. The study specific objectives include investigation of the relationship between automated teller machine services and real gross domestic product; evaluation of the relationship between point of sales services and real gross domestic product; determination of the relationship between mobile banking services and real gross domestic product; and investigation of the relationship between web banking services and real gross domestic product from 2006 to 2021 in Nigeria. The study anchored on technology acceptance model (TAM) advanced by Davis (1989) and purposive sampling technique was adopted for the collection of quarterly secondary data from the Central Bank of Nigeria. The quarterly data collected were analysed using univariate, bivariate and multivariate analyses. The findings from the VECM indicated that automated teller machine services positively and insignificantly influence real gross domestic product in Nigeria; point of sales services positively and significantly influence on real gross domestic product in Nigeria; mobile banking services positively and insignificantly influences real gross domestic product in Nigeria; and web banking services positively and significantly influence on real gross domestic product in Nigeria. On the basis of the findings, the study concluded that digital financial services influence the economic growth of Nigeria. Hence, the study recommended amongst others that appropriate policies aimed at promoting and enhancing the availability and penetration of digital financial services should be implemented and made effective as this will increase real gross domestic product of the country.

Effect of Financial Technology on Financial Inclusion in Nigeria

This study examined the effect of financial technology on financial inclusion in Nigeria. This study used quarterly secondary data and all the data were extracted from Central Bank of Nigeria (CBN) Statistical Bulletin (2021) from 2009-2019. In this study, financial technology was proxy using point of sale, automated teller machine, web banking technology and mobile banking technology, while financial inclusion in Nigeria was proxy using deposit ratio. Time series data were analyzed using the vector auto regression (VAR) estimation technique. The results show that web banking technology has a positive and significant effect on financial inclusion in Nigeria, whereas point of sale, automated teller machine and mobile banking technology have a positive but not significant effect on financial inclusion in Nigeria. This suggests that an increase in the usage of financial technology (ATM, POS, WEB and mobile technology) will cause more Nigerians to be financially included. Based on the findings, the study recommends that policymakers should encourage the development of affordable and accessible 3G and 4G mobile networks in order to provide rural and remote customers with better access to mobile banking and other financial technologies. Finally, banks should seek to improve the financial literacy of their customer base by offering regular educational programmes on topics such as money management and financial planning.

International tourists’ satisfaction towards online banking services in Ho Chi Minh City

Online banking allows a user to conduct financial transactions via the Internet. Online banking is also known as Internet banking or web banking. Online banking offers customers almost every service traditionally available through a local branch, including deposits, transfers, and online bill payments. The goal of this research was to analyze international tourists’ satisfaction with online banking services in the context of Ho Chi Minh City. The paper explores international tourists’ satisfaction with efficient dimensions, responsiveness dimensions, system-available dimensions, privacy dimensions, fulfillment dimensions, compensation dimensions, and contact dimensions. The data were gathered from a sample of 176 international tourists to Ho Chi Minh City by utilizing a purposive sampling method and adopting a survey method comprised of a structured questionnaire. The findings of the research suggest that efficient dimensions, system availability dimensions, privacy dimensions, and fulfillment dimensions are the most essential aspects that significantly affect international tourists’ satisfaction with online banking services. The study also reports that responsiveness dimensions, compensation dimensions, and contact dimensions do not have a statistically significant impact on international tourists’ satisfaction. It has implications for bank service marketers regarding the effective design of service marketing strategies for enhancing international tourists’ satisfaction in the context of online banking services in Ho Chi Minh City.

Service quality and online banking services

Online banking allows a user to conduct financial transactions via the Internet. Online banking is also known as Internet banking or web banking. Online banking offers customers almost every service traditionally available through a local branch including deposits, transfers, and online bill payments. The goal of this research was to analyze the international tourists’ satisfaction with online banking services in the contexts of Bangladesh. The paper explores tourists’ satisfaction with efficient dimensions, responsiveness dimensions, system available dimensions, privacy dimensions, fulfillment dimensions, compensation dimensions, and contact dimensions. The data were gathered from a sample of 176 international visitors to Bangladesh by utilizing a purposive sampling method and adopting a survey method comprised of a web-based structured questionnaire. The findings of the research suggest that efficient dimensions, system availability dimensions, privacy dimensions, and fulfillment dimensions are the most essential aspects which significantly affect international tourists’ satisfaction with online banking services. The study also reports that responsiveness dimensions, compensation dimensions, and contact dimensions do not play an important role in international tourists’ satisfaction. It has implications for bank service marketers regarding the effective design of service marketing strategy for international tourists’ satisfaction in the contexts of online banking service in Bangladesh.

Effects of Digital Banking on The Performance of Commercial Banks in Nigeria 2010 -2019

In this study, the effect of digital banking on the performance of Commercial Banks was examined from 2010 to 2019. The study applied the Autoregressive Distributive Lag (ARDL) framework to examine the relationship between point of sales machine (POSG), Banking Transactions made through unstructured supplementary service data (USSDG), Web banking (WEBG) and Return on Assets (ROA) of commercial banks in Nigeria. The data were obtained from the statistical bulletins of the Central Bank of Nigeria (CBN) and annual reports of Nigeria Deposit Insurance Corporation (NDIC). The result of the analysis revealed that digital banking has positive and insignificant effect on the performance of commercial banks in Nigeria. . In the light of this findings, the study recommends the need for relatively stable network: In other to reduce number of failed transactions, banks are hereby encouraged to liaise with network providers and their engineers to develop a standardized network platform exclusively for each of the digital banking channels. Also there is need for digital banking education to bank customers on the benefits of digital banking. Equally there is need for all banks to have 24 hours working cyber security department in order to ensure that the channels are not hijacked by cyber criminals.

A Survey: Machine Learning Algorithms for Network Security

Simulated intelligence systems have relate in various zones of science owing to their astounding possessions like flexibility, versatility, with potential to quickly adjust to original and darken troubles. Computerized assurance is a rapidly creating field mentioning a ton of thought by virtue of earth shattering advances in casual networks, cloud and web developments, web banking, flexible environment, sharp lattice, etc Various AI strategies have exist successfully passed on to lecture to wide-running issues in PC security. This manuscript inspects with includes various employments of AI in network security. The assessment envelop phishing acknowledgment, network interference area, difficult security possessions of shows, confirmation with components, cryptography, human coordinated effort confirmations, spam revelation in casual connection, clever indicator energy use outline with issues in security an AI techniques.

Digital fraud and advancement of fraud mitigation mechanisms in India

Digital fraud is a distortion or thievery committed by utilizing internet services to unlawfully disburse cash from a financial institution and, furthermore, receive funds to the perpetrator's bank. Digital fraud is a sort of personality misrepresentation and is primarily driven by methodologies like spam emails, hacking, card skimming, etc. By and by, web banking is comprehensively used to check account statements, conduct online marketing, deposit fees, fund transfers, print account statements, etc. For availing the E-Banking facility, the Login Id is the customer's Id assigned by the bank. Additionally, a password is made available for protection of the amount in the customer's account. Be that as it may, as a result of some neglectfulness or senseless blunders, a client can, without a very remarkable stretch; fall into the trap of web tricks or fakes done by fraudsters. The methodologies for digital fraud are like malware, phishing scams, trojan horses, card cloning, data theft, etc. The manuscript is locked in to investigate and compile the same sorts of different procedures for Internet banking fraud that happen in our banking sector these days, and in a similar way, to understand and study the techniques for fraud protection for every individual bank.

Financial innovation and the performance of small and medium scale enterprises in Nigeria

The liberalization of the Nigerian financial sector inevitably resulted in the phenomenon of financial innovation. While studies exist that investigate the effect of financial innovation on economic growth in Nigeria, only a few have addressed its impact on the performance of SMEs. Yet, the few existing ones are micro studies that emphasize more on specific regional firms. The dearth of empirical studies at the economy-wide level, therefore, mandates this study, which fills this gap in the literature. This study employs autoregressive distributed lag methodology on quarterly data of financial innovation measures. Our findings indicate that financial innovation has a positive and significant effect on SMEs’ productivity in Nigeria. In particular, of the seven financial innovation instruments used (Automated Teller Machine, Point of Sales, Web or Internet Banking, Cheques, Nigeria Inter-bank Settlement System Electronic Fund Transfer, Nigeria Inter-Bank Settlement System Instant Payment, and Mobile Money Operations), all but one turned out in both the short run and long run as significant predictors of SMEs’ performance in Nigeria. Furthermore, the Toda-Yamamoto causality test reveals unidirectional causation running from financial innovation instruments to SMEs’ performance. These results have implications for SMEs’ growth and the current cashless policy of the Central Bank of Nigeria.

Easiness in Money Transfer Post Implementation of Internet Facilities

The budgetary changes that were started in the mid 90's and the globalization and advancement measures got a totally new working condition to the banks. Administrations and items like "Anyplace Banking", "Tele Banking", "Web Banking", "web Banking", :E-Banking", and so forth have become the trendy expressions of the day and the banks are attempting to adapt to the challenge by offering imaginative and alluringly bundled innovation administrations to their customers. E – Banking, The Government of India established the Information Technology Act, 2008 by and large known as IT Act, 2008 with impact from the fifth February 2008 to give lawful acknowledgment to electronic exchanges and different methods for Electronics business. Several public sector banks have earmarked substantive budgets and are drawing up IT strategies to face the future challenges. At this juncture the study of awareness of the Internet Banking is attempted to know the current scenario so as to plan properly for the future.

Analyzing the Expectation Reality Gap in Online Banking Services

The Internet has on a very basic level changed the financial business by giving individuals increasingly prompt command over the administration of their accounts. This examination explored whether a hole exists between client desires for Internet Banking and the fulfillment of these desires in the virtual condition. The examination was operationalized by methods for a study among web banking clients. The exploration concentrated explicitly in transit clients of Internet banking destinations felt about the administration and usefulness they got on the Internet and whether their desires for this financial administration were being met. What rose up out of the examination was that clients were content with their essential Internet banking knowledge. What they were not happy with, were cost issues and the absence of customized administration. Issues, for example, speed and further developed usefulness additionally had a minor influence. Likewise, Internet banking clients felt there was an absence of combination crosswise over financial channels. In any case, except if this fulfillment is kept up and expanded, banks could lose clients to the officially rising virtual, imaginative and more financially savvy elective banks of things to come.

User Adoption of Online Banking in Kenya: A Qualitative Study

The development of the web has made an incredible effect on our day by day lives. As of late, money related establishments worldwide have quickly moved from branch-based banking to online based administration conveyance changing the manner in which administrations are rendered to clients. Notwithstanding the sending of innovation driven administrations in the financial part, the selection of Internet banking particularly in creating nations, for example, Kenya is as yet an advancement. This paper means to investigate the elements that may impact or upset the acknowledgment of web banking in Kenya. An interpretive methodology was utilized to pick up a more profound understanding of the subject point. The discoveries demonstrate that security is the principle concerning factor that impacts clients' choice to receive internet banking administrations. Culture and religion were additionally observed to impact factors. A lot of proposals were given on how client reception of internet banking can be expanded among Kenya clients. This paper reasons that the banks should better deal with buyers' encounters to upgrade the utilization of web banking administrations by including a procedure of change and learning after some time, and not simply concentrating on the appropriation procedure itself.

Secure Internet Banking Authentication

Check expect an essential improvement in checking any web banking industry, and heaps of banks and various affiliations have since a long time earlier depended on username/puzzle word combos to request clients. Holding usernames and passwords for a huge proportion of records changes into a huge and wasteful undertaking. likewise, inheritance check approachs have tumbling again and again, and that they are not confirmed against a not all that horrible kind of assaults which will be prompted against clients, systems, or endorsing servers. Reliably, data break reports weight that aggressors have made diverse welcome tech strategies to take clients' accreditations, which can cause a liberal risk. During this paper, I will with everything considered propose Associate in Nursing canny and reasonable client bolster subject abuse explicit contraptions that use absolutely amazing science neighborhood people like encoding, automated etching, and hashing. The system edges from the general use of present managing and specific cautious solid and wearable contraptions which will change clients to execute a verified solicitation appear. Our made point doesn't require Associate in Nursing check server to keep up static username and Arcanum tables for trademark and substantiating the validity of the login clients. It not exclusively is secure against question word related strikes, at any rate can in like way confine replay assaults, shoulder-surfing ambushes, phishing ambushes, and data break scenes.

Applying Cryptography in E-Banking Security

Electronic Banking that is furthermore define as E –Banking. It could be a supply of getting information concerning bank and its various administrations by means of web. E - Banking is at present the crucial substance of Banking administrations. Information innovation has purchased real changes inside the operational setting of the Banking sector. The creative strategies upheld by banks square measure inside the kind of programmed teller machine Machines – ATM's, on-line Banking, phone Banking, Mobile Banking and so on,. the wellbeing and protection of the learning is that the real concern on the whole web Banking techniques. Additionally the web keeping money industries inclined to assaults related with client validation. The objective of this paper is to discuss various encoding systems upheld science advancements and audit various methods for security in E-Banking

MLPXSS: An Integrated XSS-Based Attack Detection Scheme in Web Applications Using Multilayer Perceptron Technique

Dynamic web applications play a vital role in providing resources manipulation and interaction between clients and servers. The features presently supported by browsers have raised business opportunities, by supplying high interactivity in web-based services, like web banking, e-commerce, social networking, forums, and at the same time, these features have brought serious risks and increased vulnerabilities in web applications that enable cyber-attacks to be executed. One of the common high-risk cyber-attack of web application vulnerabilities is cross-site scripting (XSS). Nowadays, XSS is still dramatically increasing and considered as one of the most severe threats for organizations, users, and developers. If the ploy is successful, the victim is at the mercy of the cybercriminals. In this research, a robust artificial neural network-based multilayer perceptron (MLP) scheme integrated with the dynamic feature extractor is proposed for XSS attack detection. The detection scheme adopts a large real-world dataset, the dynamic features extraction mechanism, and MLP model, which successfully surpassed several tests on an employed unique dataset under careful experimentation, and achieved promising and state-of-the-art results with accuracy, detection probabilities, false positive rate, and AUC-ROC scores of 99.32%, 98.35 %, 0.3%, and 99.02%, respectively. Therefore, it has the potentials to be applied for XSS-based attack detection in either the client-side or the server-side.

SECURE INTERNET BANKING AUTHENTICATION BASED ON MULTIMODAL BIOMETRIC IN DISTRIBUTED TECHNOLOGY

Ponte Academic JournalOct 2016, Volume 72, Issue 10 SECURE INTERNET BANKING AUTHENTICATION BASED ON MULTIMODAL BIOMETRIC IN DISTRIBUTED TECHNOLOGYAuthor(s): Rachid AlaouiJ. Ponte - Oct 2016 - Volume 72 - Issue 10 doi: 10.21506/j.ponte.2016.10.1 Abstract:Today, the banking and financial systems have been totally changed due to the environment and globalization changes and competition of business services. Web Banking or Internet Banking is used to describe banking transactions through internet application. However, there are many security problems like fraudulent websites, fake emails from banks, capturing user IDs and passwords, hacking personal bank accounts and steal money etc. Security and Authentication of individuals is necessary for our daily lives especially in net Banking. It has been improved by using biometric verification techniques like fingerprints and iris. This research paper gives a security solution mobile through a new algorithm with multimodal biometric recognition and mobile service. Download full text:Check if you have access through your login credentials or your institution Username Password

Development of Internet Banking as the Innovative Distribution Channel and Turkey Example

The banking industry is one of the fastest sectors realizing the developments and changes in the field of technology innovation. Demand on web based banking products increased as a result of expanding customer focused service understanding, decreasing attainability cost, its competitive market structure and consumers’ wish to reach banking products fast, effective, productive way. Electronic banking provides an important competition advantage to the banks in terms of time, location and cost. Recently, it is concentrated on the advance technologies that are the source of the electronic banking in the interbank competition. On the other hand, internet banking is the most important element of the electronic banking. Besides being periodically diversified, the innovative banking tools attract fast increasing demand in years. This study examines the development of web banking tools used in Turkish banking industry and products of these tools, and consumer reaction in this development level in economic framework. The study also investigates the effectiveness of Turkish banking industry by means of innovative products and processes made by web banking product channels used in Turkey with a structural analysis. The study concluded finding out that the number of products used in web banking and consumers making use of these products noticeably increases in time. On the other hand, when comparing with other samples in the world, using the internet banking in Turkey has not reached to required level yet. When considering this position, in order to disseminate the electronic services, it is more than important to take some precautions. Overcoming clash between web infrastructure and banking industry security, diversification of banking products, strengthening the comprehension of tendency of using web banking, will be effective on speeding-up development of web banking increasingly.

The Internet Finance in China: The Living Space and the Regulations

This paper focus on the internet finance in China. A recent new trend in financial area shows that a high-interest Web banking on the rise in China. When everyone is pleased, Chinese regulators say they are considering new rules to govern the sector. This paper discusses that if it needs the supervision for the Web banking and the internet company who has a foot into financial field? If needed, How and what rules it needed? Paper pay attention to the characters of Public Finance and Shortage make-up by the internet companies using the historical data and comparative analytical method. This paper bring forward the rules from the space for survival and development of internet companies according to their targeting segment that national banks don't look at.