Answer to Question #160187 in Management for P

Question #160187

1.discuss various e-banking challenges in the modern digital word ?(please give at least 6 to 7 challenges )

2.write a short note on internet procurement ?(related to bank management please answer in 100 to 150 words)

Expert's answer

Question Two 

Security- With e-banking, cyber offenders just need to determine certain personal data to break into a person’s account and steal their money.

Transaction difficulty- it takes between three to five days for deposits to show up in accounts for PayPal.

Technical issues- E-banking faces technical challenges during deposits and other transactions leading to delay for customers. 

Small Budgets- Many startups have to function on shoestring advertising budgets before they grow to a larger size.

Limitations on Deposits- E-banking is limited to a certain amount of deposit daily and monthly, hindering the efficiency of a larger business. 

A Limited Scope of Services- the majority of e-banking is limited to a certain kind of services that are available for customers.  

Question Two 

E-procurement is essential to the overall management of procurement processes. The processes include the utilization of electronic systems. The systems are used to obtain goods, deliver works, and other services from third parties. It should be noted the E-procurement shelters all aspects of the purchasing cycle including, however, not limited to an E-tendering Web-based system for obtaining proposals. Based on bank management, e-procurement can be utilized when advertising for investment projects and other benefits for stakeholders. Additionally, the target population does receive tenders through E-Procurement. Therefore, when implemented properly, E-Procurement unlocks the lines of communication between a bank and a supplier by creating a direct connection and easing interactions.

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