As noted in the prior section, e-banking has unique characteristics that may increase an institution’s overall risk profile and the level of risks associated with traditional financial services, particularly strategic, operational, legal, and reputation risks. These unique e-banking characteristics include:

Speed of technological change,

Changing customer expectations,

Increased visibility of publicly accessible networks (e.g., the Internet),

Less face-to-face interaction with financial institution customers,

Need to integrate e-banking with the institution’s legacy computer systems,

Dependence on third parties for necessary technical expertise, and

Proliferation of threats and vulnerabilities in publicly accessible networks.

Management should review each of the processes discussed in this section to adapt and expand the institution’s risk management practices as necessary to address the risks posed by e-banking activities. While these......

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Title: Risk In E-Banking
Approximate Word Count: 614
Approximate Pages: 3 (250 words per double-spaced page)

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