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Electronic funds transfer (EFT) through bank-issued debit cards may be the future replacement of automated teller machine (ATM) transactions. Bank of America and Wells Fargo bank are the two top debit card issuers. This system is promising to consumers and bankers alike since debit cards reduce transaction time. Point-of-sale cards may signal the development of new technology that will move transactions away from the branch banks., With ATM transaction volume starting to level off, banks are hunting for the next big growth area in funds transfer. Will direct debit be it? When Toys 'R' Us launched [...]

Bank managers are in a quandary over investing in new technologies such as image processing. While they consider this a marketing tool, they are concerned that it will be outdated by more advanced technology and become obsolete prematurely. The proposed solution is to ensure flexibility through an effective document management system. This system must incorporate the best features of traditional or modern formats, thus enabling operators to shuttle between these formats easily., Imaging is a sexy new technology that may forever change the way banks process documents. During the golden age of Hollywood, movie mogul Samuel Goldwyn looked to purchase the film [...]

Superregional banks need to look into small community banks' incorporation of new technology into their financial operations. Small community banks use new technology such as computers and electronic transfer systems to augment their core services and not to replace them. Analysts note that such a simplistic approach to banking and to the use of technology has allowed community banks to prosper., Some community banks seem to have learned a lesson that the money centers and the superregionals have been trying to get right for years: Technology has a place in banking, [...]

Electronic payments and settlement systems threaten to replace the traditional money center banks in providing payment and other services related to trading commodity or foreign exchange. The GlobeSet is the most recently established 24-hour, multicurrency payment system initiated by New York's Bankers Trust Company. It is organized in the form of a mutual fund and makes trading commodity and foreign exchange less expensive by eliminating costs of traditional middlemen., New electronic ways to move money can jeopardize the current bread-and-butter business of money center banks. An example is Bankers Trust's new GlobeSet payments system. In today's world, making a [...]

Retail bankers must shift their operations from mere gatherers of deposits to managers of the entire balance sheet of the increasingly dissatisfied middle class. Banks can undertake such a transition at an affordable cost through th use of a new patented system that combines multiple accounts, which enables a client to convert comparatively lower mortgage borrowings into high-yielding, after-tax return maximized retirement investments., A new system that integrates multiple accounts at an affordable cost could enable banks to make the transition from mere gatherers of deposits to managers of the entire balance sheet [...]

Videoconferencing has been increasingly used by the banking industry to cut down on employee travel expenses and the time spent travelling from one site to another. The initial investment in equipment may reach as much as half a million dollars, but this will be offset by cost and time savings as well as improved productivity. However, bank managers should ensure that an effective system of marketing and administration for the videoconferencing technology is in place. Some banks have also begun to use the technology to interact with their customers., Videoconferencing is becoming the meeting method of choice at many banks. The technology offers vast savings in travel expenses and employee time, leading to greater overall productivity. EXPERTS have compared [...]

It is no secret that the foundation of the German economy is made up of thousands of small and medium-sized companies (SMEs), known as the 'Mittelstand'. Many of these enjoy [...]

Changes in the financial industry are bringing new sources of competition for banks as nonbank financial institutions have been diversifying their services. This calls for legislative reform on the part of Congress to address the new structure of the financial industry and reconsider the Glass-Steagall Act limitations.

Bankers are considering the additional services they can offer through interactive technology available by cable television, telephones and computers. Home banking services have been applied in a limited manner through telephone communications, but some banks are anticipating the development of a user interface that would dispense banking services through several interactive platforms. Telephone banking services have met wide acceptance in the initial stages., The technological pieces for bringing banking to the home are falling into place. The market will develop when and if the services are easy to use and inexpensive. Whether TVs, [...]

Three bank executives discussed how they utilize new technologies and how these technologies contribute to their bank's objectives. They mentioned that management of new systems are fashioned within the framework of information technology concepts. The new systems' effect on return on investment are examined, and cost-benefit analysis is used to evaluate them. Management information control reports are used to assess the impact of new systems and anticipate problems. In addition, programs generated by new systems can provide banks with supplemental fee income., Bankers Monthly asked a select group of bank technology executives how their institution measured the impact technology has in helping their bank accomplish its strategic goals. Here are their replies: [...]

Credit Suisse has acted as trusted adviser to a number of leading UK companies, including Barclays, Rio Tinto, Alliance Boots, Smiths Group, Corus, Rexam and MyTravel. Throughout the year, the [...]

THE PHONE OR A PC? Last October, Citizens & Southern Bank in Atlanta began offering a service that lets customers check their bank balances, transfer funds between accounts, and even [...]

The banking industry and other financial institutions will sustain their growth despite greater competitiveness if they are able to exploit new technologies to deliver better customer service.Technological advances have made it possible for bank customers to conduct their business anytime in drive-through automated teller machines. Banks which can provide the best technological options will gain a competitive edge. However, banks should not lose sight of traditional service requirements such as personalized service., As you know, banking is a service industry. Institutions that are willing and able to provide the best service to their customers at competitive prices will not only survive but [...]

Self-service terminals that use touch-screen technology allow consumers do a lot of their own banking. There's an eerie hush much of the time in the new Texas Commerce Bank branch [...]

Technologies associated with two banking companies have come up with new means of paying for the midday meal, using their own employees as guinea pigs. Both cases are using variations [...]

BEAM UP THOSE TRANSACTIONS Necessity certainly is the mother of invention, at least at Ruidoso State Bank in New Mexico. Mountains that are 11,000 feet high make it difficult to [...]

A NEW |IMAGE' ATMs are becoming increasingly complex - too complex, some argue, because most customers simply want to get cash and ignore the bells and whistles. But bankers say [...]

Point-of-sale systems are expected to proliferate. Debit cards will also enjoy success. More stores now make use of automated teller machines (ATM). Vender development of new environments and equipment can further help the growth of point-of-sale systems. An issue remains as to impact of point-of-sale systems on ATM systems. Another issue of banker or merchant control remains unresolved. The Publix grocery chain in Florida is analyzed as to customer access and general advantages adhering to the merchant.

First Interstate Bancorporation and First Nationwide Financial Corporation are offering franchises in an effort to incorporate smaller institutions into their system. First Interstate focused on the segment of the industry that was becoming outclassed by electronic developments in the industry. The franchise plan took a while to take off, but seems to be doing well now. Deregulation has made franchising more viable in the eyes of many smaller banks. Franchises point to greater deposits after acquiring a new name and image. They have been able to attract new corporate business. First Nationwide's program does not require franchisees to surrender their own identities, and no territorial rights are protected. The service packages of these franchises are analyzed.