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Newsletter Volume 4 (10) 3rd August 
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User Centred Design of Financial Services Project News Volume 4 (10), August 7, 2006 User Centred Design (UCD) of Financial Services Project News is a fortnightly e-newsletter that keeps you in touch with what is happening in the Banking and E-Commerce streams of the Smart Internet Technology CRC project on Security, Trust, Identity and Privacy. The aim is to stimulate interaction with our wider project team, industry partners and researchers involved with the use and design of financial services. <><><><><><><><><><><><><><><><><><><><><<><><><><><<><><><><>< 1. Security and Trust - Professor Supriya Singh <><><><><><><><><><><><><><><><><><><><><<><><><><><<><><><><>< According to customers, banks have dealt successfully with imperfect security with credit cards. The technology could be better. Fraudulent transactions appear on the statement, and credit card numbers get “skimmed”. Not every problem has been satisfactorily solved, but from the customers' perspective, most credit card fraud has been reasonably resolved. This means that the money comes back to the consumer. The legislation that protects consumers is yet to be tested. However, as far as customers were concerned, the bank did right by them with credit cards, they will do the same for Internet banking. Two customers said it would not be worthwhile for banks to renege on this trust and implicit protection. When we interviewed 79 persons on their banking and money management, we found it was this bank behaviour that led to most people trusting that the bank would look after them in terms of Internet banking. Among our 49 Internet banking users, 38 talked of trust. Of these 38 persons, 33 said they trusted the bank would compensate for losses. Not everybody has been won over. Seven of the 30 non- users of Internet banking had security fears. These fears comprise of a general mistrust of the Internet, online financial transactions, and /or knowledge of losses in their personal networks. Trust emerged as the single most important variable in the use of Internet banking. Opinions were divided on the adequacy of the security of the Internet and banks' Internet banking systems. However, those who trusted the bank were often the same people who had little or no concerns with security. Trust should thus be the main consumer focus, while banks continue to work on technical security. Professor Supriya Singh ********************************************************************************* Congratulations to Associate Professor Boni Robertson, Director of Gumurri Centre, Griffith University. The Governor of Queensland received the call of Associate Professor Boni Robertson for luncheon at Government House on the 6 th of July 2006, where she received a Churchill award. -------------------------------------------------------------------------------- Margaret Jackson, Julian Ligertwood, Jonathan O'Donnell, and Marita Shelly. -------------------------------------------------------------------------------- Supriya Singh. Information and communications technologies transform money in the home. Paper to be presented to Information, Communication, Society (ICS) 10th Anniversary International Symposium, 20-22 September, University of York, York, UK. -------------------------------------------------------------------------------- Supriya Singh. Placing the Social and Cross-Cultural at the Centre of Community Informatics Paper to be presented to Constructing and sharing memory: community informatics, identity and empowerment conference, Prato, 9-11 October 2006. -------------------------------------------------------------------------------- Supriya Singh and Jenine Beekhuyzen. The Bank and I: Users' Perceptions of the Security of Internet Banking. Paper to be presented at the conference on Internet Research 7.0: Internet Convergences, Brisbane, September 27 - 30, 2006. -------------------------------------------------------------------------------- ********************************************************************************* We discovered in a focus group that people still have passbooks. Jodie (not her real name) aged 35-44 has a household income of under $25,000. She has a passbook account, a card-based savings account and a credit account. Jodie said her passbook account was for “for security” and because ‘I like to see where the money is coming from.' She further stated, ‘ I find a passbook rather than internet banking means I can't get access to it as easily – I know if I need money I have to do it before Friday 5pm.' Despite her concerns over internet technology, Jodie also acknowledged that she and her husband have a separate joint account specifically for e-Bay use. She explained there was only a small amount of money in this separate account so that ‘… if there is a security breach – we won't lose all our money.' So for Jodie, security of her accounts was her main concern, but she was willing to take some security risks with buying and selling on e-Bay. Hilda (not her real name) aged 55-64 and with a household income under $25,000, reported that she had a passbook account because she does not know how to use a computer. She explained that money gets taken out of her passbook account and is transferred to a savings account that is available on the internet. Her husband who is comfortable with internet banking is able to check the account for her if needed. For Hilda, the preference for a passbook account is related more to her discomfort or lack of confidence with using a computer rather than security concerns. Her husband's opinion was that ‘…for elderly people a passbook is the first preference.' ********************************************************************************* The 7th IBIMA Conference “IBIMA focuses on real-world business applications. Therefore, submitted papers should highlight the benefits and applications of managing information in industry, government, and services. The idea of the conference is to discuss how to solve business problems or take advantage of new opportunities using IT.” Website: http://www.ibima.org 2007 IRMA INTERNATIONAL CONFERENCE “ The Information Resources Management Association (IRMA) is an international professional organization dedicated to advancing the concepts and practices of information resources management in modern organizations. IRMA's primary purpose is to promote the understanding, development and practice of managing information resources as key enterprise assets among IRM/IT professionals.” Website: www.irma-international.org |