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Online Banking Implementation: Risk Mapping Using Erm Approach

Author

Listed:
  • Mochamad Aji Jaya Sakti

    (School of Management and Business, Bogor Agricultural University)

  • Noer Azam Achsani

    (Bogor Agricultural University)

  • Ferry Syarifuddin

    (Bank Indonesia)

Abstract

The implementation of online banking in Indonesia is in line with the increasing of mobile device users who have become a part of people’s lifestyle, hence online banking offers easiness to access on banking services. This study is to examine risk mapping on the implementation online banking using ERM approach, including risk mitigation strategies for identified risks. This research was conducted at XYZ Bank who has implemented online banking. The results of this study find 55 potential risks. Some of it identified risks related to bank system security such as vulnerability to viruses, malware, hacking, also access information by an unauthorized person. Risk mitigation strategies applied by XYZ Bank is mostly done by managing the risk because the implementation online banking is still on the development process, and the Bank remains optimistic with the future prospect of online banking by staying with government regulations.

Suggested Citation

  • Mochamad Aji Jaya Sakti & Noer Azam Achsani & Ferry Syarifuddin, 2018. "Online Banking Implementation: Risk Mapping Using Erm Approach," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 20(3), pages 1-28, January.
    • Handle: RePEc:idn:journl:v:20:y:2018:i:3:p:1-28
    DOI: https://doi.org/10.21098/bemp.v20i3.824
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    Cited by:

    1. Aditya Anta Taruna & Cicilia Anggadewi Harun & Raquela Renanda Nattan, 2020. "Macroprudential Liquidity Stress Test: An Application to Indonesian Banks," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 9(special i), pages 165-187.

    More about this item

    Keywords

    Risk; Banking; Online Banking; ERM;
    All these keywords.

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation

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