Title: Technological assessment of banking innovation in Nigeria

Authors: Olusesan M. Awoleye; Oluwanishola A. Okogun; Williams O. Siyanbola

Addresses: National Centre for Technology Management, Obafemi Awolowo University, P.M.B. 012, Ile-Ife, 20005, Nigeria ' National Centre for Technology Management, Obafemi Awolowo University, P.M.B. 012, Ile-Ife, 20005, Nigeria ' National Centre for Technology Management, Obafemi Awolowo University, P.M.B. 012, Ile-Ife, 20005, Nigeria

Abstract: This paper bothers on the technological standing of banks' websites in Nigeria; this investigates the level of immunity of the online services provided. Some parameters were selected for this assessment and relevant tools were put together for the analysis. The result showed that none of the banks use country code Top Level Domain (ccTLD) for their websites. Also, two out of every three banks do not have digital certificates while only 17% of the remaining have valid and up to date certificates. 90% of the banks host their websites outside the country, the technologies used for the design and the hosting server were also considered. About the level of severity of the vulnerability, 41.7% are classified as critical, 37.5% as urgent and 20.8% as high. In conclusion, appropriate policy suggestions were advanced which highlights the role of the key players including the banks, individuals and the government.

Keywords: cyber immunity; electronic services; e-services; technological standing; internet banking; policy; Nigeria; banking innovation; bank websites; online services; financial services; digital certificates; vulnerability; security.

DOI: 10.1504/AJAAF.2013.057077

African Journal of Accounting, Auditing and Finance, 2013 Vol.2 No.2, pp.157 - 174

Available online: 07 Oct 2013 *

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