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The Ethics of eBanking

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Sort Desciption: In this paper we explore the ethics of business-to-business electronic ..... Spence L. J. "Comparative European Business Ethics: A Comparison of the Ethics ...

Content Inside: Journal of Electronic Commerce Research VOL. 3 NO. 2 2002 THE ETHICS OF EBANKING Dr Lisa Harris School of Business and Management Brunel University UK lisa.harris@brunel.ac.uk Dr Laura J. Spence School of Business and Management Brunel University UK laura.spence@brunel.ac.uk ABSTRACT In this paper we explore the ethics of business-to-business electronic commerce with a focus on the banking sector. A case study of online foreign exchange developments at an investment bank is used to help illustrate some key moral issues. Important areas identified for further research include freedom of choice trust and transparency of business-to-business transactions and limits to responsibility with regard to the facilitation of fraud. It is concluded that only with careful consideration of a broad range of management issues will traditional companies effectively address the challenges of electronic commerce. The barriers to be dealt with are far from being just technical solutions to doing business in cyberspace. 1. Introduction In this paper we aim to open up the debate on the ethics of eBanking by focusing on the activities of one case study company in the wholesale banking sector. Press and academic attention to the subject of online banking tends to focus on consumer products (B2C) and the threat they pose to traditional branch operations if concerns about privacy and security can be adequately addressed. Writers have so far largely ignored ethical issues instigated by the enormous potential of the Internet in facilitating inter-bank transactions (B2B) in the wholesale market by reducing costs. The financial services industry has been through 'structural and operational tumult' since the mid-1990s and innovative use of new information technology electronic commerce and the associated cost reductions are driving ongoing changes in banking (Kalakota and Whinston 1996). New technology brings benefits and risks and new challenges for human governance of the ...

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