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Without such expertise, the cost-benefit analysis will most likely underestimate the time and resources needed to properly oversee e-banking activities, particularly the level of technical expertise needed to provide competent oversight of in-house or outsourced activities. In addition to the obvious costs for personnel, hardware, software, and communications, the analysis should also consider:

Changes to the institution’s policies, procedures, and practices;

The impact on processing controls for legacy systems;

The appropriate networking architecture, security expertise, and software tools to maintain system availability and to protect and respond to unauthorized access attempts;

The skilled staff necessary to support and market e-banking services during expanded hours and over a wider geographic area, including possible expanded market and cross-border activity;

The additional expertise and MIS needed to oversee e-banking vendors or technology service providers;

The higher level of legal, compliance, and audit expertise needed to support technology-dependent services;

Expanded MIS to monitor e-banking security, usage, and profitability and to measure the success of the institution’s e-banking strategy;

Cost of insurance coverage for e-banking activities;

Potential revenues under different pricing scenarios;

Potential losses due to fraud; and

Opportunity costs associated with allocating capital to e-banking efforts...

Without such expertise, the cost-benefit analysis will most likely underestimate the time and resources needed to properly oversee e-banking activities, particularly the level of technical expertise needed to provide competent oversight of in-house or outsourced activities. In addition to the obvious costs for personnel, hardware, software, and communications, the analysis should also consider:

Changes to the institution’s policies, procedures, and practices;

The impact on processing controls for legacy systems;

The appropriate networking architecture, security expertise, and software tools to maintain system availability and to protect and respond to unauthorized access attempts;

The skilled staff necessary to support and market e-banking services during expanded hours and over a wider geographic area, including possible expanded market and cross-border activity;

The additional expertise and MIS needed to oversee e-banking vendors or technology service providers;

The higher level of legal, compliance, and audit expertise needed to support technology-dependent services;

Expanded MIS to monitor e-banking security, usage, and profitability and to measure the success of the institution’s e-banking strategy;

Cost of insurance coverage for e-banking activities;

Potential revenues under different pricing scenarios;

Potential losses due to fraud; and

Opportunity costs associated with allocating capital to e-banking efforts...

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