¶ … E-Finance: An Introduction" by Franklin Allen, James McAndrews and Philip Strahan (2002)
In sum, e-finance involves providing some type of financial services online or through other modern digital means. The journal article by Allen et al. provides a review of various types of research issues (e.g., the use of electronic payment systems, the operation of financial firms, and the operation of financial markets) related to e-finance that warrant further studies in the future. The authors describe the fundamental transformations that have taken place in the financial services industry and emphasize that a growing number of providers are operating online without a physical brick-and-mortar presence. In addition, a description concerning the respective impact of the Internet and other electronic banking systems on different sectors competing in the financial...
In fact, by 1918, the Federal Reserve leased telegraph lines across the country to link all of the accounts held at the 12 Federal Reserve Banks in the United States. Likewise, the NASDAQ exchange was using electronic stock trading as early as 1971. The point is also made that electronic banking systems have gained in popularity since that time and a growing number of countries have made the transition to electronic banking systems. Moreover, a number of stock trading platforms have transitioned to electronic systems with the New York Stock Exchange and the bond market representing two…
Such a strategy allows banks to reduce the cost associated with paper check conversion (Bruno, 2002). In addition this strategy reduces the number of fraudulent checks that are written (Bruno, 2002). The author also insist that this strategy may lull some customers into actually using debit cards or check cards at the point of sale, as opposed to using traditional checks (Bruno, 2002). Indeed automation will be an important part
Electronic Cash and Smart Cards Forms of electronic cash came about in the 1990s with the rise of the Internet and a new way to do business. Smart cards were among the new forms. When purchasing products over the Internet, consumers have concerns about the privacy of their information with electronic payments. Some studies were conducted to evaluate the pros and cons of smart cards, how the security is designed in
Online Banking USAA Online Banking Analysis: Assessment of Positive & negative Impacts & Recommendations The USAA online banking system has been specifically designed to provide the financial institution's customers with reliable, secure and virtual access to their accounts and supporting banking transactions globally. Through the use of any Internet browser, USAA banking customers can quickly sign in, access and view account information, transfer funds, and set up and use automated payments for their
Published out of Ohio State University, the journal is dedicated to "reporting major findings in the study of monetary and fiscal policy, credit markets, money and banking, portfolio management, and related subjects" (Cato 1996). The breadth of this journal's coverage ensures its continued relevance, and not only the wide readership but the large number of submissions the journal receives -- which allows its editors to choose carefully from among
From the bank's point-of-view, representatives consider that the main advantages are: m-banking can be used as a very good distribution channel, it increases sales volume, it reduces costs of distribution, and it increases customer satisfaction. Market Overview The banking sector is characterized by intense and tough competition. The intensification of competition is mainly influenced by globalization. However, in order to counteract this matter, banks have the opportunity to provide their financial
Risk analysis projects are relatively expensive, and were so even in the mainframe computing era, because they involved the collection and evaluation of a significant volume of data. Earlier risk studies were conducted by in house staff or consultants and the in house people did not have much experience regarding the matter and the consultants did not know much about the requirements of the organization. Presently, the familiarization task has