Towards an Improved Framework for E-Risk Management for Digital Financial Services (DFS) in Ugandan Banks: A Case of Bank of Africa (Uganda) Limited
One of the predominant challenges facing banks in low resource countries is the management of Digital Financial Services (DFS) risks. Many banks are making worthwhile efforts to boost the factors that make them come on top of the challenges, unfortunately they have fallen short. This article sought...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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University of Zagreb, Faculty of organization and informatics
2022-01-01
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| Series: | Journal of Information and Organizational Sciences |
| Subjects: | |
| Online Access: | https://hrcak.srce.hr/file/405436 |
| _version_ | 1797206753748713472 |
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| author | Andrew Arim Joseph Wamema |
| author_facet | Andrew Arim Joseph Wamema |
| author_sort | Andrew Arim |
| collection | DOAJ |
| description | One of the predominant challenges facing banks in low resource countries is the management of Digital Financial Services (DFS) risks. Many banks are making worthwhile efforts to boost the factors that make them come on top of the challenges, unfortunately they have fallen short. This article sought to develop an e-risk management framework for DFS in Ugandan banks. Design Science Research paradigm, a mono-method qualitative research method and a case study research strategy was adopted. Questionnaires, interviews and document review were the main data collection methods. Findings from this study indicate that banks in Uganda use a handful of DFS business models and face a number of DFS risks including; talent for DFS, technology, strategy, governance, product, client acquisition, crime/fraud, regulation, and agent management among others. Notwithstanding, Ugandan banks should carefully balance IT spend across customer expectations, improve cybersecurity and internal process and regularly check its IT security. |
| first_indexed | 2024-04-24T09:12:02Z |
| format | Article |
| id | doaj.art-e4188cfa296c4be4a8928f468015dc21 |
| institution | Directory Open Access Journal |
| issn | 1846-3312 1846-9418 |
| language | English |
| last_indexed | 2024-04-24T09:12:02Z |
| publishDate | 2022-01-01 |
| publisher | University of Zagreb, Faculty of organization and informatics |
| record_format | Article |
| series | Journal of Information and Organizational Sciences |
| spelling | doaj.art-e4188cfa296c4be4a8928f468015dc212024-04-15T17:48:53ZengUniversity of Zagreb, Faculty of organization and informaticsJournal of Information and Organizational Sciences1846-33121846-94182022-01-0146110312710.31341/jios.46.1.6Towards an Improved Framework for E-Risk Management for Digital Financial Services (DFS) in Ugandan Banks: A Case of Bank of Africa (Uganda) LimitedAndrew Arim0Joseph Wamema1CANCOM Public GmbH, Granatenstrasse, 19-20, Berlin, 13409, GermanyAfrican Centre for Agroecology and Livelihood Systems, Uganda Martyrs University, Kampala, 5498, UgandaOne of the predominant challenges facing banks in low resource countries is the management of Digital Financial Services (DFS) risks. Many banks are making worthwhile efforts to boost the factors that make them come on top of the challenges, unfortunately they have fallen short. This article sought to develop an e-risk management framework for DFS in Ugandan banks. Design Science Research paradigm, a mono-method qualitative research method and a case study research strategy was adopted. Questionnaires, interviews and document review were the main data collection methods. Findings from this study indicate that banks in Uganda use a handful of DFS business models and face a number of DFS risks including; talent for DFS, technology, strategy, governance, product, client acquisition, crime/fraud, regulation, and agent management among others. Notwithstanding, Ugandan banks should carefully balance IT spend across customer expectations, improve cybersecurity and internal process and regularly check its IT security.https://hrcak.srce.hr/file/405436E-RiskDigital Financial ServicesDigital Risk ManagementBank Risk ManagementInformation SecurityCybersecurity |
| spellingShingle | Andrew Arim Joseph Wamema Towards an Improved Framework for E-Risk Management for Digital Financial Services (DFS) in Ugandan Banks: A Case of Bank of Africa (Uganda) Limited Journal of Information and Organizational Sciences E-Risk Digital Financial Services Digital Risk Management Bank Risk Management Information Security Cybersecurity |
| title | Towards an Improved Framework for E-Risk Management for Digital Financial Services (DFS) in Ugandan Banks: A Case of Bank of Africa (Uganda) Limited |
| title_full | Towards an Improved Framework for E-Risk Management for Digital Financial Services (DFS) in Ugandan Banks: A Case of Bank of Africa (Uganda) Limited |
| title_fullStr | Towards an Improved Framework for E-Risk Management for Digital Financial Services (DFS) in Ugandan Banks: A Case of Bank of Africa (Uganda) Limited |
| title_full_unstemmed | Towards an Improved Framework for E-Risk Management for Digital Financial Services (DFS) in Ugandan Banks: A Case of Bank of Africa (Uganda) Limited |
| title_short | Towards an Improved Framework for E-Risk Management for Digital Financial Services (DFS) in Ugandan Banks: A Case of Bank of Africa (Uganda) Limited |
| title_sort | towards an improved framework for e risk management for digital financial services dfs in ugandan banks a case of bank of africa uganda limited |
| topic | E-Risk Digital Financial Services Digital Risk Management Bank Risk Management Information Security Cybersecurity |
| url | https://hrcak.srce.hr/file/405436 |
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