Mobile Banking and Brokerage Systems ) Managing IS Risks in the Beginning 21st Century
The beginning 21st century makes high demands on industries dealing with new technologies. Starting from an outline of new challenges of the 21st century, the situation of banks being particularly exposed to these conditions is described. The mobile banking channel is focused as one example of banks´ business processes involving new technology. 24 banks are identified from the list of the 100 largest German banks that offer mobile services and an empirical study is conducted in order to explore
... their first experiences with mobile banking services. These telephone interviews are the first of a three-step research process. For a more in-depth analysis of banks´ IS risks, face-to-face interviews will be conducted in a second step. The research process will be finished with selected case studies about requirements for new methods and tools of banks´ IS risk management. This paper presents selected results of the first research step. One of the most important aspects for all their decisions has been the high risk dealing with new technology and a lack of established IS risk management guidelines. Examples of such operational risks are considered and a variety of different existing approaches is discussed and analyzed with respect to their potential to minimize risks, though being not explicitly dedicated to risk management. However, new risk management approaches are treated by the industry with a certain reserve. On the basis of that analysis, suggestions for further research are made to develop a practicable operational IS risk management approach.