Banking systems fraud and technology approach, Strategic Management

Assignment Help:

Banking Systems Fraud and Technology Approach

It is my intention to use the Banking Systems in Nigeria for this case study. I have observed that the process of banking operations in Nigeria is very porous and with little technological advancement so the verification of customers' transaction is difficult. These transaction verifications include signature authentication, balance inquiry and facial recognition.

Banking systems can be compromised if certain confidential information finds its way into the hands of fraudsters. Such information can be in form of

(i)  Personal data for example national identification number and address

(ii)  Banking data for example account details and electronic card pin number.

Conventional knowledge-based methods do not really provide positive personal recognition because they rely on surrogate representations of the person's identity (e.g exclusive knowledge or possession) (Jain A.K, 2004). However, biometrics-based methods provide several advantages over these authentication methods because of its true and precise representation of a person's identity, which is very useful and effective in securing personal and banking data.

The use of biometrics, for instance fingerprints, can be used to verify withdrawals of cash over the counter in banking halls or online. This technology commonly called cryptology registers a customer's fingerprint and prevents someone else from accessing the account. Another approach is to verify the signature of a customer and determine if the handwriting is that of a registered customer in the case of a cheque.

Another useful aspect of biometrics is voice testing which can be applied in the verification of online banking transactions.


Related Discussions:- Banking systems fraud and technology approach

Assignment, how much assignment cost if maximum 3000 world

how much assignment cost if maximum 3000 world

Critically examine importance of organisational culture, Question 1: Di...

Question 1: Discuss the following business strategies giving examples, and elaborate under what circumstances these business strategies are applied. i) Forward integration

Product and pricing strategy, Product and Pricing strategy.   This a...

Product and Pricing strategy.   This activity is part of your marketing plan. Prepare a 4-5 page report, addressing the following: Explain the rationale for the compo

Benefit in a global market, 1.  Execute an e-strategy in an organisation. ...

1.  Execute an e-strategy in an organisation. 2.  Develop processes to monitor the execution of an e-strategy in an organisation. 3.  Assess how an e-strategy contributes to

Successful business teams, 1 Explain the characteristics of successful busi...

1 Explain the characteristics of successful business teams 2 Explain the importance of team roles in successful business teams 3 Examine the value of using theoretical models whe

Ideal mission statement of a business organisation, Question: a) (i) H...

Question: a) (i) How many components are there in an ideal mission statement of a business organisation? (ii) Name these components? b) Using the above named component

Show the cost based approaches - method of transfer pricing, Q. Show the Co...

Q. Show the Cost based approaches - Method of transfer pricing? The pricing of products or services are based on their full or variable (marginal) production cost per unit. Ful

Describe chargeback, A process in the industry where a wholesaler requests ...

A process in the industry where a wholesaler requests an amount that is the difference among the manufacturer's price to the wholesaler and the contract price to the resale custome

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd