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E-banking = Banking + Internet ATTF Sarajevo H. Van de Vyver February 6-8, 2006 Banking on the Internet World Wide Web Global village International products and services Banking on the Internet Local banking Human interface Cash transactions Banking on the Internet

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e banking banking internet

E-banking = Banking + Internet

ATTF

Sarajevo

H. Van de VyverFebruary 6-8, 2006

banking on the internet
Banking on the Internet
  • World Wide Web
  • Global village
  • International products and services
banking on the internet3
Banking on the Internet
  • Local banking
  • Human interface
  • Cash transactions
banking on the internet4
Banking on the Internet

Offered products

  • Electronic products and services

e.g. banking software, financial information, mortgages

(simple products in complex category)

  • Physical products and services with electronic support

e.g. Bond lending, bearable certificates of deposit, credit cards

banking on the internet5

Banking on the Internet

e-banking is:

- transactions 24 h a day, 7 days a week

- for people on the move

- access through browser (no software)

- acceptable level of security

advantages for the bank
Advantages for the bank
  • Surfers: commercially interesting market segment
  • Reduced local distribution or less branches
  • Information: quickly updated
  • Selective sales strategy
  • Non-material products
advantages for the bank7
Advantages for the bank
  • Major return on investment by investing in online financial services (% of banks in survey)
    • 27 % : cost savings
    • 22 % : customer retention
    • 19 %: cross selling of services
    • 15 %: customer acquisition and additional

revenues (fees and interest)

Source: Celent Communications, oct. 2005

pitfalls for the bank
Pitfalls for the bank

(1)

  • no human interface
  • slow connections
  • imprecise laws
  • client’s acceptance
pitfalls for the bank9
Pitfalls for the bank

(2)

  • cost of development and maintenance of website and transactional tools
  • lower customer switching costs
  • products digitally non deliverable
  • high step in costs for starters (marketing, promotion, computing)
pitfalls for the bank10
Pitfalls for the bank

(3)

  • Entry barriers
    • Reputation to attract clients (higher rates)
    • Fund raising to pool risk (e.g. Sony’s branch of electronic bank: objective to raise 10.6 billions euro)
overview of the seminar
Overview of the seminar

1. Introduction

2. Situation of e-banking

3. Strategic choices and new channels

4. New payment methods

5. Practical e-banking

6. Prudential approach

overview of the seminar12
Overview of the seminar

7. The client and the market place

8. Hold back the invisible enemy

9. Upcoming technology

10. Training

11. Operations

12. Direct access to ...

13. General summary

slide13
Test

Which banking products and services

  • need to be handled through a branch
  • can be treated by phone and fax
  • can be offered through the Internet or by e-mail
  • can be handled using a Call Centre

?

1 introduction
1. Introduction
  • Branch network and ATM
  • Internet Banking
  • Mobile Banking
  • Wap and I-mode
  • Web Spaces
  • Point of Sale (POS)
  • Phone and Fax Banking
1 introduction18
1. Introduction
  • Branch network and ATM
    • Branches
      • Reduce and upgrade
      • More ATM’s inside
      • New services
    • ATM’s
      • Security and recognition
      • More services offered
      • Communication tools
      • Outside branches, new places
1 introduction19
1. Introduction
  • Internet Banking
    • After the Internet bubble
    • New generation of clients
    • Bare necessity
    • Huge success
1 introduction20
1. Introduction
  • Mobile Banking
    • Payment via celular phone
    • Small transactions
    • Alerts for orders
    • SMS (payments/alerts)
1 introduction21
1. Introduction
  • Wap and I-mode
    • Wap: not success as expected
    • I-mode: Asian countries, DoCoMo
slide22

Information messages

Incidents / Alerts

First implementations (System messages)

Off-Site operators &

maintenance personnel

Mobile communications

platform

Production environment

1 introduction23
1. Introduction
  • Web Spaces
    • Only inside branches
    • Web access, bank access
    • ATM’s + Web Branch
1 introduction24
1. Introduction
  • Point of sale (POS)
    • cards
    • terminals
    • network
1 introduction25
1. Introduction
  • Phone and Fax Banking
    • Banking over the phone from everywhere
    • No screen
    • Limited possibilities
    • Free phone number for good clients
    • Fax Banking: for more complex orders
summary of first part
Summary of first part
  • A lot of channel in banking, not only branches.
  • Mostly communication channels:
    • - over the computer
    • - over the phone
2 situation of e banking
2. Situation of e-banking

What is electronic banking ?

Some interesting figures

Some examples of consumer goods. Amazon.com - Dell computing

slide28

2. Situation of e-banking

What is electronic banking ? E-Commerce E-Finance E-MoneyE-banking Other online financial services and products- Internet banking- Telephone banking- Other electronic delivery channels

2 situation of e banking29
2. Situation of e-banking
  • Europeans banking through Internet:
      • 54 millions in 2002
      • 103 millions in 2007
  • Main markets: Germany (16 mio), United Kingdom (10,4 mio) and France (6,2 mio)

Source: Jupiter Research

summary of part two
Summary of part two

Three topics discussed :

1. Situation of ebanking

2. Some figures

3. Non-banking examples

3 strategic choices and new channels
3.a. Integration of new channels

3.b. Major barriers to deployment of new channels

3.c. Major past challenges for the banks

3.d. Powering multi-brand and multi-channel distribution

3. Strategic choices and new channels
3 strategic choices and new channels35
3.e. Driving online banking to profitability

3.f. Paper focus, what the client requires

3.g. Investment funds via Internet

3. Strategic choices and new channels
3 a integration of new channels
Interactive TV

Future banking channel

Delivering content

New technology standards

3.a. Integration of new channels
3 b major barriers to deployment of new channels
Technology and standards

Customer’s ability

Budgets- equipment- marketing

Security and scalability

3.b. Major barriers to deployment of new channels
3 c major past challenges for the banks
Market competition

Client’s requirements

Much new technologies

3.c. Major past challenges for the banks
3 d powering multi brand and multi channel distribution
Multiple brands

Multiple consumer segments

Mutichannel world

Changing customer ’s experience

3.d. Powering multi-brand and multi-channel distribution
3 e driving online banking to profitability
Stand alone vs. Web enabled

huge promotion budget and other costs

moderate returns

requirements to retain clients

get paid for services (normal pricing)

3.e. Driving online banking to profitability
3 f paper focus what the client requires
Opening an account (bank)

Bank statements (client)

Receipt of transactions (POS)

Information (client)

3.f. Paper focus, what the client requires
3 g investment funds development via internet
Funds supermarket

autonomous and actif clients

advantages (access, actuality, compare prices, choice, easy platform)

3.g. Investment funds development via Internet
summary of part three
Summary of part three

Mutichannel Banking services are driven by fast-emerging industry trends and accompanying customer pressures. The quickly moving, demanding factors of these initiatives contributed to banks’ ongoing extension of its application and platform infrastructure without clear planning, new developments, new answers to clients’ requirements…

case study
Case Study

The Rowe Cos and Merrill Lynch: The ROI Process in Business/IT Planning

What is the business value of the ROI methodology required for project planning by Merril Lynch?

4 new payment methods
4. New payment methods

a. Situation

b. e-money offer

c. Monetary policy

4a situation
4a. Situation

E-money: slow take off (past)

* Merchants * Regulatory framework

* Cost * Number of people

* Security * High investments

* Compatibility * Multifunctional

4a situation47
4a. Situation

E-money (future)

* More liquid * Higher acceptance

* Cost of system * Rate of equipment saturation

* Transferable * Circulate well

* Convenient * Person to person transaction

* Security/Confidence

4a situation48
4a. Situation

E-money: types

1. Card based: Smart or stored value card vs notes and coins

2. Cybermoney: Network e-money

vs bank deposits

4a situation51
4a. Situation

E-money: types

1. Smart card : Mondex in USA

E- Purse: Proton in Europe Pseudo cash: Digicash of E-cash

2. Digital Cheques: PayPal in USA

4a situation52
4a. Situation

Consumers’ E-Wallet wish list

* Ability to check statements 58 %

* Checking of bank balances 54 %

* Ability to pay bills 34 %

* Intra account transfers 35 %

* Scope for P2P payments 29 %

4b e money offer
4b. E-money offer

Payment needsElectronic payment instrument

1. Micro payments Card-based e-money

2. Retail POS payments Card-based e-money at POS

3. Buddy Banking e-money

4. Bill payments ATM, Internet banking, e-money

5. Electronic commerce e-money

4b e money offer54
4b. E-money offer

Pay Pal

See Demo

4b e money offer55
4b. E-money offer

Bid Pay

  • Owned by: Western Union
  • Objective: pay online auctions (max 700 USD)
  • Fees: 5 USD amount < 100 USD 5 USD + 2.25 % amount < 700 USD
  • E-mail notification: payment and shipping
  • (Limited) International payments
4b e money offer56
4b. E-money offer

C2it

  • Owned by: Citibank
  • Fees: 1 % of transaction amount (min 0.50 USD) 1.6 % of transfer from bank account

3.00 USD for check request

  • Only US residents
  • International payments
4b e money offer57
4b. E-money offer

Yahoo! Pay Direct

  • Bank: HSBC
  • No Fees
  • Min payment: 5 USD; max 200 USD (very

exceptional 1000 USD)

  • E-mail notification: payment
  • National (US) payments
4c monetary policy
4c. Monetary policy

1. Balance sheet Taxes – reserves of e-cash Issue e-cash

2. Settlement at Central bank

vs own settlement

summary of part four
Summary of part four

New payment methods:

How do you want to pay tomorrow from person to person, on the POS, for e-commerce etc ?

What are the challenges for the monetary policy ?

5 practical e banking
5. Practical e-banking
  • How to start an electronic bank ? (banker)
  • How to open an e-banking account ? (client)
  • More ...
5 practical e banking61
5. Practical e-banking
  • Start an electronic bank : be a banker
  • Bank license
  • Back Office
  • Front Office
    • Internet
    • Bricks
  • Website
    • In house
    • Outsourced
  • Computer dept.
  • Hotline, call centre
5 practical e banking62
5. Practical e-banking
  • An e-banking account for a client
    • Open account (European – American)
    • Log in
    • Transfer or deposit
      • Cash
      • Securities
    • Transactions
5 practical e banking63
5. Practical e-banking
  • More ...
    • Succesful e-service
    • Benefits of responsive service websites
    • EQ - Quiz
    • Improve and survive
summary of part five
Summary of part five
  • Practical e-banking:
  • start an electronic bank for a banker
  • an e-banking account for a client
  • more ...
case study65
Case study

Fidelity Investment and others: Evaluating usability in Website design.

Is a usability lab like Fidelity ’s necessary, or are there other alternatives for testing usability in website design? Which is the better approach? Why?

6 prudential approach
6.a. Risk management

6.b. Fourteen principles for a sound risk management

6.c. Cross border issues

6.d. Risk policy

6.e. Laws and legislation

6. Prudential approach
6 a risk management
6.a. Risk management

Trends and issues impacting bank risk profiles :

e.g. new financial products, speed in transactions, expertise in technology

6 a risk management68
6.a. Risk management

Types of risk (1)

  • Strategic and business risk
  • Operational risk
  • Technology and infrastructure
  • Security
  • Data integrity
  • System reliability
  • Internal controls-audits
  • Outsourcing
6 a risk management69
6.a. Risk management

Types of risk (2)

  • Reputational risk
  • Legal risk
  • Other traditional risks
  • Credit
  • Liquidity
  • Market
  • Foreign exchange
6 a risk management70
6.a. Risk management

Tools

  • Support and oversight by the board of directors
  • Supervisory staff (technological knowledge, appropriate technological skills)
  • Technical training of staff
  • Recruit outside expertise
6 b fourteen principles
6.b. Fourteen principles

A) Board and management oversight

  • Effective oversight of e-banking activities
  • Establishment of a comprehensive control process
  • Comprehensive due diligence and management oversight process for outsourcing relationships and other third party dependencies
6 b fourteen principles72
6.b. Fourteen principles

B) Security controls

  • Autentication of e-banking customers
  • Non-repudiation and accountability for e-banking transactions
  • Appropriate measures to ensure segregation of duties
6 b fourteen principles73
6.b. Fourteen principles

B) Security controls

  • Proper autorisation controls within e-banking systems, databases and applications
  • Data integrity of e-banking transactions records and information
  • Establishment of clear audit trails for e-banking transactions
  • Confidentiality of key bank information
6 b fourteen principles74
6.b. Fourteen principles

C) Legal and Reputational risk management

  • Appropriate disclosures for e-banking services
  • Privacy of customer information
  • Capacity, business continuity and contingency planning to ensure availability of e-banking systems and services
  • Incident response planning
6 b fourteen principles75
6.b. Fourteen principles

Case study

Global Straight through Processing Association (GSTPA), challenge for lessening the risks ? Which risks are tackled here ?

6 c cross border issues
6.c. Cross border issues
  • Technology expanding the virtual geographical reach of banks and customers
  • No need of physical expansion
6 c cross border issues77
6.c. Cross border issues
  • Interconnected networks

-> countries not licensed or supervised

  • Banking and non-banking activities
  • Different jurisdictions
6 c cross border issues78
6.c. Cross border issues
  • Existing regulation, laws, controls etc apply to e-banking
  • Bank mostly refrain from cross border activities in e-banking

-> Addition of e-banking to existing Brick and Mortar

6 c cross border issues79
6.c. Cross border issues

Three challenges

  • 1. E-banking span geographic borders

-> call into question regulations and juridical requirements

  • 2. Foreign competitors conduct nearly identical activities : restrictive approach
  • 3. Uncertainty during the period of construction of legal infrastructure
6 c cross border issues80
6.c. Cross border issues

The in-out scenario

(bank in country– customers outside country)

  • Home country responsible for laws on consolidated basis
  • Same regulations and controls within home country
  • Host approaches home country supervisor
6 c cross border issues81
6.c. Cross border issues

The out – in scenario

(outside country bank – in country clients)

  • Physically foreign bank, access to payment in local market
  • Host supervisor checks if he needs some additional license
  • Danger of lack of jurisdiction in host country
6 c cross border issues82
6.c. Cross border issues

Positive notes

  • Cheaper and less risky operations
  • Resources in home country (easily switch from one foreign market to another)
  • Objective of reaping economies of scale
6 c cross border issues83
6.c. Cross border issues

Critical notes

  • Hard to build trust
  • Less familiar with market conditions
6 d risk policy
6.d. Risk policy
  • Assess risks
  • Control risks
  • Monitor risks
  • Integrate in overall risk management
6 d risk policy85
6.d. Risk policy
  • Supervisory staff
  • Technical training
  • Outside expertise
6 e legislation
6.e. Legislation

Introduction

  • Privacy
  • Intellectual property
  • Electronic signatures and electronic records
6 e legislation87
6.e. Legislation

EuropeDirective on prospectuses

  • Date: May 2001
  • Objectives:
    • create a single passport for issuers offering securities to the public
    • available on the website or in electronic format
6 e legislation88
6.e. Legislation

EuropePersonal Data protection Bill

  • Directive 95-46-EC
  • Objectives:
    • Free movement of personal data
    • Rules for the state, companies and individuals
    • Appropriate level of protection
6 e legislation89
6.e. Legislation

EuropeDirective on e-money institutions

  • Directive 2000-46-EC; 18th September 2000
  • Objectives:
    • Promote consumer confidence in the use of e-money
    • Establish regulatory framework for electronic money institutions
6 e legislation90
6.e. Legislation

EuropeElectronic signature act

  • Directive 1999-93-EC
  • Objective: Legal framework and technical conditions for electronic signature
6 e legislation91
6.e. Legislation

Europee-security proposal

  • Date: 6th June 2001
  • Objective: ensure confidentiality and accessibility of networks and information
6 e legislation92
6. e. Legislation

EuropeDirective on traffic data retention

  • Date: 27th June of 2000
  • Objectives:
    • Revision of Directive 97-66-EC
    • Allow traffic data retention for limited time (billing purposes)
6 e legislation93
6. e. Legislation

EuropeEuropean Passport Directive 2000/12/EC

  • First banking directive
  • Mutual recognition of the banking licence/prudential supervision
  • 27 april 2005, presentation to the European Parliament/Council
6 e legislation94
6. e. Legislation

Others

Electronic banking and financial transactions (Lebanon)

  • Circular n° 1810, 30th march 2000
  • Objective: modernize, regulate and organize electronic banking sector
6 e legislation95
6. e. Legislation

USA

E-sign act

  • Date: 1999
  • Issuer: SEC (Securities exchange commission)
  • Objectives:
    • Retaining electronic records required by regulation, statute or law
    • Rules of autentication, filing and timing terms
6 e legislation96
6. e. Legislation

Convention on cybercrime

  • Date: 23th November of 2001
  • Objective:

International response and coordination to challenge cybercrime and cyberterrorism

6 e legislation97
6. e. Legislation
  • Identrus: network for autentication of electronic signature
  • Digital signature law survey (website)
  • European legislation: www.europa.eu.int
summary of part six
Summary of part six
  • Risk management
  • Fourteen principles
  • Cross border issues
  • Risk policy
  • European directives, US and elsewhere
case study99
Case study
  • Fireman’s Fund, Allmerica Financial and FMC: The business case for IT outsourcing

1. What are the business value to Fireman’s Fund and Allmerica outsourcing their computer operations? What are some potential limitations of such outsourcing arrangements?

2. What are the benefits and potential limitations of offshore and near-shore IT outsourcing arrangements ?

7 the client and the marketplace
7.a. Segmentation

7.b. Marketing and commercial trends

7.c. Promotion and advertisement

7.d. Profile of a client

7.e. Convert members into clients

7.f. New model of competition

7. The client and the marketplace
slide101

Price

Products

Services

Price

Web enabling

E.g. : Private banking

  • 7.a. Clients Segmentation

Profile of potential client :

Validator, one stop shopper, traditional private client

Decide

10-15 %

e brokers

Validate

40-45 %

e bank(insurance)

Delegate

40-45 %

7 b marketing and commercial trends
7.b. Marketing and commercial trends
  • Concepts of e-banking
  • CRM: Customer relationship management (sales - customer service - marketing)
  • Web-enabeling
    • - add web channel- not 100 % web bank
slide103

7.b. Marketing and commercial trends

  • Link to the client- newsletter vs. e-mailing
  • content: financial analysis
  • daily news
  • - opt in vs. opt out
7 c promotion and advertisement
7.c. Promotion and advertisement
  • On-line or off-line communication
  • Average budgets in 2004
    • Internet advertising 23 %
    • Print ads 13 %
    • TV spots 2 %
    • Others: more than 50 %

Source : Boston consulting group

7 c promotion and advertisement105
7.c. Promotion and advertisement

Tools

  • Events / Happenings
  • Temporary events
  • Viral marketing
slide107

7.d. Profile of a client

Socio-demographics

7 d profile of a client
7.d. Profile of a client

How to retain online customers

  • categorization of user sophistication level
  • ensuring perceived security
7 e convert members into clients
7.e. Convert members into clients
  • Visitors -> members -> clients
  • Online customer conversion rate 1.5 % in 2003 2.3 % in 2004 (peaks of 2.6 %)
  • Average customer acquisition cost 20.45 Eur / client

Source : Boston consulting group

7 f new model of competition
7.f. New model of competition
  • CollaborateCompete

e.g. mutual funds ebanking

  • Aggregators: horizontally consolidated info

about accounts

e.g. Yahoo – Microsoft

  • Vertical portals: one stop shopping
  • Smart agents: compare financial offers
  • New competitors: non-banking offers
7 f new model of competition113
7.f. New model of competition

Confidence

  • Valid contact address and real-world address
  • Talk with living representative
  • Watchdogs (e.g. BBBOnline, TRUSTe)
  • Precise terms of purchase
summary of part seven
Summary of part seven
  • Client ’s segmentation
  • Commercial and marketing trends
  • Profile of a client
  • New competition
8 hold back the invisible enemy
Situation

8.a. Threats

8.b. Attacks

8.c. Safeguards

8.d. Security policy

8. Hold back the invisible enemy
8 hold back the invisible enemy116
8. Hold back the invisible enemy

Source: InfoSecurity News

8 hold back the invisible enemy117
8. Hold back the invisible enemy

Who are the attackers ?

  • Young person
  • No criminal record
  • Likes technology
8 hold back the invisible enemy118
8. Hold back the invisible enemy

Who are the attackers ?

  • Usually employed in the technology field (or wants to be)
  • Adventurous and highly motivated
  • Bright, creative, energetic, outwardly self-confident
8 a threats
8.a. Threats

Fundamental threats (1)

  • Disclosure
  • Tampering
  • Denial of service
  • Repudiation
  • Illegitimateuse
8 a threats120
8.a. Threats

Enabling threats (2)

  • Masquerade
  • Trojan Horse
  • Virus
  • Control bypass
  • Authorisation violation
8 a threats121
8.a. Threats

Underlying threats (3)

  • Eavesdropping
  • Scavenging
  • Indiscretion
  • Admin.error
8 a threats122
8.a. Threats

Special notes:

Phishing

  • e-mail
  • website
  • trust/urgency

CNP transactions

  • stolen card
  • stolen card details
  • operate at distance
8 b attacks
8.b. Attacks

Threats into action

=

Attacks

8 c safeguards
8.c. Safeguards
  • Autentication (two/three factors)
  • Access control
  • Confidentiality
  • Integrity
  • Accountability
8 c safeguards125
8.c. Safeguards
  • Physical
  • Personnel
  • Media
  • Emanations
  • Administration
  • Lifecycle
8 d security policy
8.d. Security policy

Why is security weak ?

  • Organizations unaware of risks
  • Organizations unprepared to act
  • Countless contacts to corporate networks (ext. - int.)
8 d security policy127
8.d. Security policy

Why is security weak ?

  • Too few experienced employees in security technology
  • Lack of time to establish stronger security
  • Complexity of technology
8 d security policy128
8.d. Security policy
  • Security policy

Checklist

summary of part eight
Summary of part eight
  • Security is a key issue for clients’ confidence, for banking operations and for the future of electronic banking
case study130
Case study
  • MTV networks and First Citizen Bank: Defending against Hacker and Virus attacks.

1. What are the business benefits and limitations of an intrusion-detection system like that installed at First Citizens ?

2. What security defenses should small business have to protect their websites and internal systems? Explain your choices.

9 upcoming technology
Controlled chat

New ATM’s

Electronic purse

Back offices

E-mail centralisation

9. Upcoming technology
10 training
Technical staff

Commercial staff

Staff in Auditing and Controling

Back Office staff

10. Training
case study133
Oppenheimer Fund, Cardinal Health and Exodus: IT Security Management Qualification

1. What mix of skills is most sought after for IT security specialists?

2. Why must IT security executives in business have the mix of skills and experience outlined in the case?

Case study
11 operations
Transactions

Cost of operation

Front Office vs. Back Office

Brick & Click

11. Operations
11 operations135
11. Operations

Transactions

  • Secured payment (ex. Visa)
  • Payment by credit card (or other method)
  • Cybercash
11 operations136
11. Operations

Costs of operation

Human (branch) : 1 EUR

Paper transaction: 0.75 EUR

Self banking: 0,50 EUR

PC transaction: 0.25 EUR

Internet transaction: 0.10 EUR

Source: Gartner Group

11 front office vs back office
11. Front office vs. Back office
  • Collaborate with “brick” back office
  • integrated back office (automation, on line orders on stock exchanges)
  • Call centre < - > CRM (Tel) (Tel + Pc)
11 brick and click
11. Brick and click
  • Click
    • virtual bank
  • Brick
    • Confidence - transaction during lunch time
    • human relation - image building
    • cash deposit - opening an account
summary part eleven
Summary part eleven

Key elements to operate a sound e-bank :

- Transactions

- Brick & Click

case study140
Case study
  • Agilent Technologies and Citibank: The challenges of Consolidating Global IT

What are the business benefits of Citibank’s global IT consolidation project? How can a single global system still be customized for each country?

12 direct access
12.a. ... to quotes and Stock Exchanges

12.b. ... to Websites of banks

12.c. … to financial information

12. Direct access …
12 a to quotes and stock exchanges
12.a. …. to quotes and Stock Exchanges
  • Prices and tariffs (updating, availability …)
  • Quotes
    • on-line
    • real time
  • Transactions direct on Stock Exchanges (Euronext … )
slide144

If you think about the Internet, you could say it is primarily a very useful way to get information. But when you think about transactions, banking is the killer application. Because banking is information.By Bor Harald, Merita Nordbanken (Helsinki)

12 b to websites of banks
12.b. ….. to Websites of banks
  • First step: marketing Website(only information, products, simulation e.g. euro conversion)
  • Second step: added value
    • buy and sell
    • interactivity
  • Advantage: worldwide visibility and competition
12 c to financial information
12.c. …. to financial information
  • Websites with
    • raw data
    • all types of news
    • investment advice
  • Customisation (e.g. FT Portfolio)
  • Specialised search tools and websites
  • Info of banking results (P&L, …)
slide147

12.c. …. to financial information

Pay for financial information ?

OR

Free financial information ?

summary of part twelve
Summary of part twelve

Direct access to information, quotes, investment advice and economical data, « a click away ».

case study150
Case study

Sherwin Williams and Krispy Kreme: Managing external data sources

What challenges in acquiring and using data from external sources are identified in this case?

13 a others and summary
13.a. Others and summary

Significant work in evaluating trends in e-finance from international Forums and organisations

  • The World Bank: www.worldbank.org“Electronic Finance: Reshaping the financial Landscape Around the World,” sept. 2000
  • FIBV: International stock exchange federationwww.fibv.org
13 a others and summary153
13.a. Others and summary
  • BIS: Bank of International Settlementswww.bis.org
  • IAIS: International association of insurance supervisorswww.iaisweb.org
  • OECD: Organisation for economical cooperation and developmentwww.oecd.org
  • APEC: European finance ministerswww.apec.org
13 b more and questions
13.b. More and questions

Website:

  • http://ebanking.homestead.com
    • password

Electronic mail address :

  • hvdv@tango.lu

Thank you for your attention

13 c topics handled in the seminar
13. c. Topics handled in the seminar

1. Introduction

2. Situation of e-banking

3. Strategic choices and new channels

4. New payment methods

5. Practical e-banking

6. Prudential approach

13 c topics handled in the seminar156
13. c. Topics handled in the seminar

7. The client and the market place

8. Hold back the invisible enemy

9. Upcoming technology

10. Training

11. Operations

12. Direct access to ...

13. General summary