CHALLENGES AND PROSPECTS OF E-COMMERCE MANAGEMENT IN THE BANKING SECTOR

Davit Katamadze (), George Abuselidze, Guliko Katamadze () and Anna Slobodianyk ()
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Davit Katamadze: Batumi Shota Rustaveli State University
Guliko Katamadze: Batumi Shota Rustaveli State University
Anna Slobodianyk: National University of Life and Environmental Sciences of Ukraine

Economics and Management, 2021, vol. 18, issue 1, 19-32

Abstract: In the context of the globalization of the world economy, e-commerce plays an important role in the development of the banking sector. In particular, by using the global Internet, it significantly reduces the time and financial costs of banking operations, which enable banks to conduct financial transactions faster, deliver new banking products and increase their customer base. Consequently, at the present stage, the countries that use e-commerce extensively in the banking sector are developing the fastest. Given the scarce economic resources of our country, the Internet economy is the means by which it is possible to achieve greater socio-economic effects, the development of trade, currency and credit relations. In Georgia, these opportunities are not used properly. The reason for this is the challenges in e-commerce in the banking sector of our country and the mismanagement of their elimination processes.

Keywords: E-Commerce; Banks; Banking Products; Banking; Cyber Security; Banking Process Management (search for similar items in EconPapers)
JEL-codes: G21 L81 L86 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:neo:journl:v:18:y:2021:i:1:p:19-32

DOI: 10.37708/em.swu.v18i1.2

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