Innovations in Electronic Banking Channels
Global Finance › Vol. 23 Nbr. 8, September 2009
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Summary
In the case of larger more complex organizations the multiplicity of ERP systems combined with the business requirement to utilize services from several banking partners has accentuated the need fore streamlining the end-to-end information flow to ensure adequate visibility and control. It has driven focus on straight-through-processing and standardization as the means towards that end. The standardization efforts can be categorized in two distinct areas: 1. standardization of connectivity infrastructure and 2. standardization of instruction formats. Traditionally, online banking has been used by treasurers simply as a tool for transaction initiation. In the imminent future online banking is poised to undergo radical change with a much greater degree of personalization and customization. Ultimately, electronic banking platforms will effectively become information platforms rather than solely transaction platforms, with regulatory information and market data coupled with expert opinions and powerful analytical tools that help drive decisions.
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Innovations in Electronic Banking Channels
In the case of larger more complex organizations the multiplicity of ERP systems combined with the business requirement to utilize services from several banking partners has accentuated the need for streamlining the end-to-end information flow to ensure adequate visibility and control. It has driven focus on straight-through-processing (STP) and standardization as the means towards that end.
The standardization efforts can be categorized in two distinct areas...See the full content of this document
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