Answer in Management for prabhdeep #166694

Subject: Bank Management

1.Explain the importance of electronic delivery channels in the modern digital business environment ? (please give at least 8 points for importance)

2.Discuss various E-banking challenges in the modern digital world ?(please give at least 8 points for challenges)

1.     Importance of electronic delivery channels in the modern digital business environment: 

·        They offer quick delivery of business services. Electronic channels of delivery are fast and efficient, thus saving time for both customers and the business service provider.

·        They have low error rates. Electronic channels rely heavily on information technology for service delivery thus reducing probability of an error occurring.

·        They allow for consistent delivery of standardized services. Electronic channels ensure uniformity in service delivery, which would otherwise be altered in the case of human interaction.

·        They cost less. Electronic channels are more cost-efficient in delivery in the business environment because they cut out the exorbitant cost of conventional media.

·        They provide customer convenience. With digital trends in the business environment like ecommerce, electronic channels enable customers to access business services anywhere at any time.

·        They provide a large customer base for businesses. By use of electronic channels, business service providers can reach a larger number of intermediaries and end users.

·        They are tailored to the customer’s choice. Electronic channels have the ability to customize customer services thus facilitate a wide variety of business services to customers.

·        They enable rapid customer feedback. Businesses can quickly find out what customers think of their services, which enables them to address any problems quickly.


2.     Various E-banking challenges in the modern digital world: 

·        Operational risk – E-banking heavily relies on new technology for service provision, making system and security availability the major operational risk in e-banking. Technical issues in the system may cause the bank heavy monetary losses. Banks therefore have the challenge of heavily investing in reliable technology developments and hiring staff with great expertise.

·        Security risk – Banking systems are exposed to a risk of security threats. E-banking therefore demands appropriate practices to maintain data confidentiality as well as regular testing and review to analyze network vulnerability and recovery preparedness.

·        Legal risk – E-banking allows expansion of banks through geographical borders more than traditional banking therefore making the scope of jurisdiction of local laws wide. Banks may experience difficulty abiding by all these changes and may unknowingly violate customer protection laws.

·        Regulatory issues – E-banking facilitates provision of banking services anywhere in the world, making regulators place strict regulatory measures. Banks may face some gray areas in obtaining licensing for some jurisdictions of service.

·        Traditional structures that are unable to respond to the agility required for e-banking – A large number of people still rely on traditional banking methods. Banks may face challenges in integrating traditional banking systems with e-banking.

·        Money laundering – E-banking greatly facilitates money-laundering activities because of its anonymous nature. Banks may sometimes experience challenges in establishing the authenticity of nominal account holders.

·        Reputational risk – The more a bank relies on e-banking, the greater the potential for reputational risk. A security breach or disruption in a system’s availability may damage a bank’s reputation by eroding customer confidence and trust.

·        Organizational structure and resistance – Banks may face an unfavorable organizational structure or acceptance issues from staff due to the ever changing nature of technology development. 

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with TheBestPaperWriters
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Architecture, Building and Planning
The assignment was well written and the paper was delivered on time. I really enjoyed your services.
Customer 452441, September 23rd, 2022
The paper was EXCELLENT. Thank you
Customer 452449, September 23rd, 2022
Thanks a lot the paper was excellent
Customer 452453, October 26th, 2022
English 101
Very good job. I actually got an A
Customer 452443, September 25th, 2022
Business Studies
Excellent service - thank you!
Customer 452469, February 20th, 2023
excellent loved the services
Customer 452443, September 23rd, 2022
Business Studies
Job well done. Finish paper faster than expected. Thank you!
Customer 452451, October 3rd, 2022
Job well done and completed in a timely fashioned!
Customer 452451, November 18th, 2022
Excellent services will definitely come back
Customer 452441, September 23rd, 2022
Business Studies
Thank you!
Customer 452451, November 27th, 2022
Customer reviews in total
Current satisfaction rate
3 pages
Average paper length
Customers referred by a friend
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat