E-Commerce and Banking Performance in Nigeria

E-commerce is relatively new in Nigeria and this business approach is fast gaining momentum. It has gradually emerged strongly and it’s advancing rapidly in all areas of financial intermediation and financial markets. This development has no doubt earned a competitive advantage owing to the fact that the recent development in telecommunications and information technology has resulted in new delivery channels for banking products and services. One of such derived benefits from e-commerce and its resultant impact on banking performance is its improved efficiency and effectiveness, convenience, reliability, flexibility, speed, etc. in order to enhance effective service delivery and boost banking performance in the Nigerian economy. However, as to how e-commerce practices can be employed in the pursuit of a sustainable development and economic growth is yet to be firmly established. This research work particularly describes the significance of e-commerce system by explaining the transition from the traditional business practices to the evolving electronic commerce practices which has broken many new grounds and has taken a global dimension.  Again, it explains why the electronic commerce channels such as the use of ATM, telecommunications, social networks, internet banking, POS terminals, Mobile phones, software applications, etc could enable business to blossom and reduce the movement of cash/cash handling which in turn helps to curb crime rates, mitigate other barricading challenges and would protect us from many dangers.  Also, it explains why it has gained greater height of acceptability and thus explains how information communication technology (ICT) could be exploited and enhanced for this purpose.  Conclusively, it develops a strategic management framework for leveraging e-commerce practices by providing considerable and practical suggestions on the use of e-e-commerce - its features, benefits, success factors and possible attendant risks associated with e-commerce. It guarantees customers’ patronage,  improve the standard of living, as well as facilitating economic, social and technological changes as certain values are expoused by sustainable development which in turn, would help to foster economic growth in the Nigerian economy . it was recommended that government and banks should establish adequate regulatory framework that will ensure customers’ protection and security of investment. Keywords: e-commerce, e-banking, mobile commerce/mobile banking, internet banking, information technology, social networks.

Cryptographic adaptation of the middle square generator

Currently, cryptography plays a major role in various computer and technological applications. With the high number of internet users, the use of cryptography to provide information security has become a priority. Several applications such as e-mails, electronic banking, medical databases and e-commerce require the exchange of private information. While, if the connection is not secure, this sensitive information can be attacked. The best-known cryptographic systems rely on the generation of random numbers, which are fundamental in various cryptographic applications such as key generation and data encryption. In what follows, we want to use pseudo-random sequences generated by the middle square generator. In this work, it must be possible to estimate that the data produced has random characteristics, knowing that the algorithm used is deterministic. Overall, this paper focuses on the testing of pseudo-random sequences generated by the middle square generator and its use in data encryption

Problems of Electronic Commerce Applications in a Developing Country: A Descriptive Case Study of the Banking Industry of Oman

ABSTRACT Internet banking is a relatively new area and there are several issues, which have been generally untouched and are therefore open to further investigation, especially in the developing countries. Hence, this study is a step in this direction. This research has been focused on investigating to identify and highlight the main potential factors or impediments that are currently inhibiting the incorporation or adoption of Electronic Commerce (EC) applications expansion in the Omani banking sector. Data, obtained for the first time, were collected using semi-structured interviews and a survey questionnaire as well as by reviewing some bank documents. The study explores the slow uptake of EC application in the banking industry. The objectives of the research, therefore, were to identify factors enabling or inhibiting the successful adoption and use of ecommerce applications within the banking industry of Oman. The results provide a pragmatic picture of the adoption of EC applications in the country's core financial sector domain. One of its main findings is that security and privacy issues were found to be a serious inhibiting factor. Other factors such as power relationships (as conflict between managers can often emerge during the process of IS/IT adoption). Banks adopting and implementing Internet banking services and applications face several management and social problems and challenges. Although the research context is quite specific, it is believed that the findings are of relevance to other industries and other developing countries

A Portal Banking Solution Research, SQM and Inspire 2012 Tampere Conference

Abstract The growth of the Internet as a financial business and core banking has done possible for everyday life for everyone. Core Banking solutions are banking applications on a platform enabling a phased, strategic approach that lets people improve operations, reduce costs, and prepare for growth. The main focus of this paper is the research of a Web Banking Service infrastructure and study with mixed method for its services functionality and use ability for a research of consumers view. Core Banking solutions are banking applications on a platform enabling a phased, strategic approach that lets people improve operations, reduce costs, and prepare for growth. Implementing a modular, componentbased enterprise solution ensures strong integration with your existing technologies. An overall service-oriented-architecture (SOA) helps banks reduce the risk that can result from multiple data entries and outof-date information, increase management approval, and avoid the potential disruption to business caused by replacing entire systems. Here, computer software is developed to perform core operations of banking like recording of transactions, passbook maintenance, and interest calculations on loans and deposits, customer records, balance of payments and withdrawal are done. This software is installed at different branches of bank and then interconnected by means of communication lines like telephones, satellite, Internet, etc. It allows the user a customer to operate accounts from any branch if it has installed core banking solutions. In this paper, I‘ve explored portal solutions system and oftwaredesign techniques for a core banking system. There is taken an example for card banking system (CBS) portal improvement and engineering. Also programming development and functionality of mainly banking class method are investigated for banking solutions

Recent Trends in Image Encryption: A Review

Security of multimedia data is gaining acceptance owing to the growth and acceptability of images in various applications and in telecommunication. Encryption is one of the ways to ensure high security of images as they are used in many fields such as in secure medical imaging services, military intelligence, internet and intranet communication, e-banking etc. These images are stored or transmitted through a network; hence the security of such image data is important. In this work, recently developed encryption techniques are studied and analyzed to promote further development of more encryption methods to ensure additional security and versatility. All the techniques reviewed came into existence within the last five years (2011-2015) and are found to be useful for the present day encryption applications. Each technique is unique in its own way, which might be suitable for different applications. As time goes on, new encryption techniques are evolving. Hence, fast and secure conventional encryption techniques will always be needed in applications requiring high rate of security

The Antecedents of Internet Banking Service Adoption in Jordan: Using Decomposed Theory of Planned Behavior

Although Internet banking services have been widely adopted in developed countries, there is still low usage in developing countries such as Jordan. There is a limited empirical research on Internet banking services in this country despite being a necessity to adopt research on Internet banking service. Among the aims of this quantitative research are to empirically determine the significant antecedents of Internet Banking Service Adoption (IBSA), antecedents of attitude, antecedents of subjective norm and antecedents of perceived behaviour control as well as to explain how the Decomposed Theory of Planned Behaviour (DTPB) is being used in determining the antecedent of IBSA in Jordan. The research framework consists of sixteen (16) latent variables, twelve(12) exogenous variables and four (4) endogenous variables. Using an adopted survey instrument, seventy-eight items (7-point-likert scale) is used and one variable is adapted in the process of collecting the pertaining data. Out of the 700 samples in four universities located in three areas (South, Middle and North), 517 respondents (76% response rate) were eventually used to further analyze the data using mainly Structural Equation Modelling (SEM) to investigate causal and mediating relationships between latent variables. The findings of the research reveal that attitude, subjective norm and perceived behaviour control are significant and positive antecedents of the IBSA. It also indicates that perceived usefulness, trialability, trust and awareness are significant as well as positive antecedents in terms of attitude of customers toward IBSA, while perceived risk is significant and a negative antecedent of attitude toward IBSA. It is found that, however, perceived ease of use and compatibility are insignificant antecedents of attitude toward IBSA. The results of the findings indicate that subjective norm has two significant antecedents - family influence and mass media influence. It also shows that self-efficacy and government support seem to be significant and positive antecedents of perceived behaviour control whereas technology support is insignificant. It can be concluded that DTPB is found to be a good and suitable underpinning theory to explain IBSA antecedents in Jordan by achievement of model goodness of fit for the GOF index. The research study also discusses past empirical findings and its practical applications and implications for Jordanian contexts

Latent segmentation of older adults in the use of social networks and e-banking services

Introduction. This study analyses heterogeneity in the online behaviour of elderly people. Previous research has centred on the socio-demographic segmentation of the elderly regarding their Internet use. Method. The novelty that this study adds is in determining this segmentation through variables that have been especially chosen for studies of the elderly and which are related to their utilitarian use of e-banking, compared to the more hedonic nature of using online social networks. Analysis. The sample was collected using 474 students over 55 years old enrolled in a class of experience in a University in the South of Europe (Spain). We use a latent class cluster model which is appropriate in situations of a posterior segmentation. Results. In dealing with such behaviour in situations of the elderly using these technologies, we have detected the presence of five groups or segments with highly differentiated use-related profiles concerning the variables analysed: venturesomeness, technology anxiety and selfconfidence in information and communication technologies use. Conclusion. We discover the existence of heterogeneity in the behaviour of the elderly regarding services available in Internet. The results support the idea proposed. The stereotype of the elderly cut off from technology is mistaken, as is shown by the different segments found

Impact Of It In The Danish Banking Industry, With Specific Illustrations From The Nordea Group And Lån & Spar Bank

Danish banks have traditionally been in the absolute forefront globally as regards the automation and introduction of IT since the mid 60’ies. But when the e-commerce opportunities emerged in the late 90’ies, the majority of the Danish banks resisted the development. They saw no reason to be the prime movers in cannibalising their own key competitive advantage, the 2.500+ retail-outlets (branches) placed on all the best locations on corners of the shopping streets1. However, once pure Internet banks were introduced in 1998 - 2000, all major banks (and the computing centres servicing the smaller banks) launched massive initiatives to bring the brick-and-mortar banks back into the driver seat using Internet banking. At the end of 2003 more than 30% of all Danish bank customers are using Internet. This development in the banking industry is illustrated using two cases. The first is one of the most ambitious attempts at creating a Nordic based large international financial service company, capable of spearheading the transition to the digital economy - the case of Nordea. This bank is in the midst of various transformation processes across the organisation due to several years of multiple cross boarder mergers and acquisitions, new composition of the group executive management, increasing thrives towards automation of business processes to reduce costs, and different innovations involving a change of the roles of value network partners. The other case is Lån & Spar Bank, which is one of the smaller Danish banks, who have its basic IT services done at a joint computing centre owned with many other smaller banks, but have its own IT development for strategic purposed done in-house in close collaboration with the business units. This bank has been in the forefornt in adopting new IT-solutions. This report consists of an analysis of the background for the development of the Danish banking sectors, the key processes in the Danish banking industry, the environmental and policy actors influencing the development, the e-commerce readiness in the Danish banking sector, the diffusion of e-commerce, and finally the impact on efficiency, industry structure and competition. The main results are that there are more Danish financial institutions having Internet technologies and Internet applications than in the other nine countries in the GEC survey. Furthermore, we suspect that they have had it for a longer period on average than found elsewhere in the sample. However, when we compare the figures in the GEC-survey on the ‘ Use of Internet for the different business processes’, and ‘On-line support’, the number of Danish financial institutions having Internet applications is not higher than in the other countries