Financial Technologies and Risk of Electronic Business activities in Howe, Gwer-East Local Government Area, Benue State, Nigeria

Abstract

Cyber-attacks against businesses are on the rise globally, with severe consequences on individual`s and business 
organisations. Yet business owners often lack effective strategies to avoid these attacks. This study examine the 
influence of financial technologies on electronic business activities in Howe, Gwer-East Local Government Area 
Benue State, Nigeria. The objectives of the study were to identify types of financial technologies associated with 
electronic business activities, find out the benefits of financial technologies on electronic business activities, and 
to examine the risk factors of financial technologies on electronic business activities. The study adopts routine 
activity theory. The study employed cross-sectional survey design with a sample size of 259 respondents using the 
Taro Yamane formula. Finding of the study showed that financial technologies is beneficial to business owners. 
However, the introduction of financial technologies in electronic business has led to fraud, cyber-attacks, and data 
breaches that have negatively impacted on electronic business activities. The study recommended among others 
for improved cyber-security of electronic enterprises that use financial technologies for their business activities. 
Also, there is need for stakeholders to expand internal and external monitoring of e-security practices of financial 
services providers and other financial services to secure safe and convenient business environment.