Electronic Commerce Benefits, Challenges and Success Factors in the Australian Banking and Finance Industry

This paper reports on part of a wider study into electronic commerce (e-commerce) benefits, challenges and success factors in Australian businesses, with particular reference to the banking and finance industry. The findings indicate that the major benefits to this industry sector from adoption of e-commerce are increased sales, business efficiency, competitive advantage, increased automation of processes and retained and increased customer base. The key challenges identified for the sector include the costs of the technology, lack of e-commerce knowledge, budgeting, acquiring IT skilled people and customer service. Secure transactions were not considered a major challenge by this sector; rather they were regarded as one of the success factors, along with support from top management, a functional and user-friendly web site, partnerships with technology providers and an effective project leader. Participating companies correctly estimated the majority of challenges posed by the adoption of e-commerce, however they did not anticipate the difficulties of acquiring skilled staff to design, implement and manage the IT aspects of the transition

Interaction effects on prediction of children weight at school entry using model averaging

Model selection introduce uncertainty to the model building process, therefore model averaging was introduced as an alternative to overcome the problem of underestimate of standards error in model selection. This research also focused on using selection criteria between Corrected Akaike's Information Criteria (AICC) and Bayesian Information Criteria (BIC) as weight for model averaging when involving interaction effects. Mean squared error of prediction (MSE(P)) was used in order to determine the best model for model averaging. Gateshead Millennium Study (GMS) data on children weight used to illustrate the comparison between AICC and BIC. The results showed that model selection criterion AICC performs better than BIC when there are small sample and large number of parameters included in the model. The presence of interaction variable in the model is not significant compared to the main factor variables due to the lower coefficient value of interaction variables. In conclusion, interaction variables give less information to the model as it coefficient value is lower than main factor

Pitfalls of Electronic Commerce in Large Corporations

To enable businesses to maximise value and achieve benefits from electronic commerce, it is imperative to identify, analyse and overcome challenges that lie ahead those engaging in conducting the business electronically. The research presented in this paper reports on the pitfalls – challenges of electronic commerce encountered among the top 500 Australian publicly listed companies. The results showed that the most encountered challenges among large corporations include a lack of e-commerce knowledge, technology cost, acquiring IT skilled people, a lack of e-commerce infrastructure, security, as well as making the business known to users, customer service, budgetary constraints, etc. It has also been established that participating companies from the industries with the highest response rate to the questionnaire have encountered similar challenges in their paths of implementation of electronic commerce. However, despite the fact that the encountered challenges among participating companies were similar, the analysis have shown that different industries have experienced different impacts from the challenges they met

Electronic Commerce Issues in the Australian Manufacturing Industry

This paper reports on findings into the benefits, challenges and success factors of electronic commerce in the Australian manufacturing industry among the top 500 Australian publicly listed companies. The paper investigates anticipated and identified challenges, benefits and success factors of electronic commerce, and possible relationships between them. The results showed that manufacturing industry encountered similar challenges, identified similar success factors and achieved similar benefits as the other sectors of Australian economy. Although this research addresses well-established business enterprises in Australia, the nature of electronic commerce is such that it is global and the findings should be applicable to large organizations over a much wider scope. Some of the findings could as well be applicable to small and medium size businesses/organizations

EBanking adaptation and dot.com viability : a comparison of Australian and Indian experiences in the banking sector

With the advent of widely-accepted eBusiness activities, many banks have floated dot.com entities to create a presence on the Internet and take advantage of its power and reach. Like many other businesses, banks expected an increase in market capitalisation as a result of their dot.com floats, perceived broadly as a measure of growing profitability. Despite the negative publicity that the recent spate of dot.com crashes has generated, banks seem to continue floating online spin-offs. Our exploratory study investigates this phenomenon, studying the drivers for change in the evolution of the banking sector, and the move towards electronic banking. We focussed on two economies &ndash; Australia and India &ndash; to aggregate the major factors in this evolution from the perspective of two disparate economies. The paper describes our qualitative, document-based investigation of the Australian and Indian banking sectors, and subsequent quantitative analysis of the impact of dot.com floats on market capitalisation within this market sector. We then describe the effect of applying both Transaction Cost Economics to our findings, which indicates that the cost of transacting business has been reduced overall by the creation of dot.com entities; and &ldquo;catch-up, fall-behind, forge ahead&rdquo; theory to gain an economic perspective. The paper provides both practical assistance for banks in making decisions regarding e-portfolios, as well as for policy makers in the economies reviewed; and has the potential to contribute to academic research into eBanking more generally.<br /

The influences of e-satisfaction, e-trust and hedonic motivation on the relationship between e-banking adoption and its determinants in Nigeria

The main objective of this study is to investigate factors that can predict adoption of ebanking in Nigeria. Specifically, it aims at investigating mediating influences of esatisfaction, e-trust and hedonic motivation on the relationship between e-banking adoption and its other determinants. The motivation of this study is driven by the inconsistent findings in the literature with respect to the relationships between e-banking adoption and its determinants: perceived usefulness, perceived ease of use, perceived security and facilitating condition. In line with the inconsistencies, various suggestions have emerged pointing to the need to investigate the possible mediating variables that could explain the inconsistencies. For that purpose, this study employed theories of Technology Acceptance Model (TAM), Universal Theory of Acceptance and Use of Technology (UTAUT) and Social Exchange theory to synchronize the possible relationships among the variables in the conceptual framework. Survey questionnaire was advocated and the questionnaires were distributed randomly to 382 customers of four major banks in Nigeria. Out of 291 returned questionnaires, 266 were useable for analysis. PLS-SEM was used to analyze both direct and indirect relationships among the variables of the study. The results reveal that perceived usefulness, perceived security, perceived ease of use, facilitating condition, and awareness are positive determinants of e-banking adoption, e-satisfaction, hedonic motivation and e-trust accordingly with an exception of perceived usefulness that does not determine e-trust. The study also found that e-satisfaction; e-trust and hedonic motivation mediate the relationship between perceived usefulness, perceived ease of use, perceived security and facilitating conditions and e-banking adoption. Finally, managerial, policy and theoretical implications as well as directions for future research are discussed in this paper

FinTech, blockchain and Islamic finance : an extensive literature review

Purpose: The paper aims to review the academic research work done in the area of Islamic financial technology. The Islamic FinTech area has been classified into three broad categories of the Islamic FinTech, Islamic Financial technology opportunities and challenges, Cryptocurrency/Blockchain sharia compliance and law/regulation. Finally, the study identifies and highlights the opportunities and challenges that Islamic Financial institutions can learn from the conventional FinTech organization across the world. Approach/Methodology/Design: The study collected 133 research studies (50 from Social Science Research Network (SSRN), 30 from Research gate, 33 from Google Scholar and 20 from other sources) in the area of Islamic Financial Technology. The study presents the systematic review of the above studies. Findings: The study classifies the Islamic FinTech into three broad categories namely, Islamic FinTech opportunities and challenges, Cryptocurrency/Blockchain sharia compliance and law/regulation. The study identifies that the sharia compliance related to the cryptocurrency/Blockchain is the biggest challenge which Islamic FinTech organizations are facing. During our review we also find that Islamic FinTech organizations are to be considered as partners by the Islamic Financial Institutions (IFI’s) than the competitors. If Islamic Financial institutions want to increase efficiency, transparency and customer satisfaction they have to adopt FinTech and become partners with the FinTech companies. Practical Implications: The study will contribute positively to the understanding of Islamic Fintech for the academia, industry, regulators, investors and other FinTech users. Originality/Value: The study believes to contribute positively to understanding of Fintech based technology like cryptocurrency/Blockchain from sharia perspective.peer-reviewe

Opportunity and challenges of electronic-banking system in commercial bank of Ethiopia (a case study on Gurage zone)

This study is conducted with the purpose of analyzing the opportunities and challenges of electronic banking system in commercial bank of Ethiopia founds at Gurage zone. It was conducted based on data mainly collected from staff and customers of the bank through questionnaires and focused group discussion. The study identified benefits of electronic banking that a customer gets as a result of using e-banking services as well as the benefits the bank gets as a result of providing e-banking services. It also investigated the major challenges for the electronic banking services in commercial bank of Ethiopia as of infrastructural, legal and regulatory, socio-cultural, and illiteracy related challenges. To address various challenges identified on the study, the study suggests a series of measures which could be taken by government as well as commercial bank of Ethiopia.peer-reviewe

Factors Influencing the Adoption of Electronic Banking in Kenya: A Case of Commercial Banks in Nairobi County

The revolution of information technology has transformed the financial services industry. Despite the undeniable importance of financial innovation in improving service delivery, there is inadequate understanding about the drivers of adoption of e-banking systems. The study established the influence of organizational capability, perceived technological risk, perceived usefulness, and perceived ease of use on the adoption of e-banking in Kenya. The study is grounded on the Technology Acceptance Model (TAM) and Technology-Organization-Environment (TOE) framework. The findings show that the presence of electronic systems, databases, and applications; effective management and oversight, and financial capacity are prerequisite to adoption and use of e-banking services. The main risks perceived by respondents were the effect of incorrect entries, time taken to learn how to use the system, and system outages that may affect access to accounts. E-banking was also perceived to be faster, easier, and better than traditional systems, with many users’ comments on perceived ease of use confirming that the graphic user interfaces are clear, easy to use and do not demand much mental effort. Multiple regression coefficients indicated a statistically significant relationship between organizational capability and perceived usefulness and the adoption and use of e-banking services. There was no statistically significant relationship with perceived risk and perceived ease of use

Perceived Benefits and Challenges of Electronic Banking Adoption in Ethiopian Private Commercial Banks

The main objective of this study is to identify Perceived benefits and challenges of e- banking adoption on Ethiopian private commercial banks. Mixed research design was employed and primary data was collected through questionnaires from employees and analyzed using quantitative (statistical) and qualitative methods. The study reveals that e-banking service provides benefit for both customers and banks in improving their public image and retain customers for long. Despite the benefit of e-banking service and investment on adopting; the system is not well strengthen in providing services due to several challenges. From these, low level of infrastructure, lack of legal frame works, security risk which lessen confidence of customer to use those technologies, lack of trust on the use of technological innovation and limited top management support are the major challenges of Ethiopian private commercial banks in respect to technology adoption. This study suggested that the government should issue laws that govern e-banking operation, security technologies should be strengthened. Awareness about e- banking should be created using different approaches. Moreover e- banking technologies should be given in a simple and easy to use way. Keywords: E-Banking, technological adoption, Private Banks in Ethiopi