Online banking

  You are to recommend a realistic and effective course of action. The deliverable is a 2-page user-friendly report summarizing the issues, analyzing each alternative and making a recommendation. Reflect on the situation and prepare an annotated plan of how you would approach advising members of e*Bancorp’s C-suite. Outline and explain the rationale behind the steps you will take in preparing the advice, the platform you will be choosing to deliver and briefly summarize the key points you have decided to make in the 2-page report. Recommendations: • Employ a Confidential System • Provide ethical training • Reinforce Consequences for Unethical Behavior OUTLINE: • Intro (W1) • Issues (3 short paragraphs) • Ethical issues arising from internal and industry practices (W1) • Unethical practices in e-marketing (W2) • Unethical practices relating to e-banking products (W2) • Recommendations / Alternatives (W3) • Conclusion (W4)       Online banking has fully revolutionized the way human beings approach financial transactions in the modern age. The online financial institution described in the case study, e*Bancorp, works to make online banking exceptionally easier. Operating primarily in the US, Europe, Asia, and the Caribbean, the company offers services such as consumer and commercial banking, mortgage banking, wealth management, corporate payment services, equipment leasing, and insurance (Barclay-Platenburg, 2014). However, no corporation or financial institution exists without flaw, and e*Bancorp is not an exception to this rule. One significant problem faced by the company is its use of unethical internal and industry practices. While the existence of fraud and all manner of sharp practices in the banking sector are neither uncommon nor unexpected, its prevalence is negatively impacting the sector and threatening to undermine public faith in the industry (THISDAYLIVE, 2019). In fact, money laundering, investment fraud, toxic loans, banking laws violation are some examples of corporate unethical practices perpetrated by the commercial banks, and possibly by e*Bancorp as well (THISDAYLIVE, 2019). The most common reason behind such unethical practices result from “poor management, insider abuses and other unwholesome practices that have to be dealt with by the relevant authorities” (THISDAYLIVE, 2019). E-marketing also shows itself as a potential weak point when it comes to upholding ethical values, with the novelty of the digital landscape allowing for all sorts of unsavory practices to slip through the cracks. “Above all else, ethical marketing is honest and transparent” (LoFrisco, 2020) and one of the main issues that is especially prevalent in online marketing is dishonesty. Beyond simply advertising a product as more effective than it really is, as something else than interpreted within the advertisement, or buying fake reviews, some forms of dishonest marketing can be even sneakier. An example of this is a letter appearing to be in an invoice that contains a due date and a balance, but in fine print reveals that the invoice is simply a solicitation for a donation and not at all required (LoFrisco, 2020).