Electronic banking and treasury security by Brian Welch

By Brian Welch

This version takes under consideration the very newest advances in digital banking and treasury safety. The digital transmission of cash from businesses to banks signifies that businesses are accountable for excessive degrees of chance formerly lined by means of the bank's personal defense platforms. This booklet is the definitive resource of recommendation for all finance execs.

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Extra resources for Electronic banking and treasury security

Example text

Although all other European Union nations are estabhshing real time settlement in their high-value payment systems, the UK is one of the first countries in the world to implement an RTGS for all its same day payments. With the introduction of RTGS in CHAPS, the focus of the debate in the high value clearings is shifting. The attention of the long-term risk management programme is concentrating on settlement in the securities market, while further value market, such as real time, deliver versus payment.

3 Services in the Middle East and Far East were developing rapidly, using the new communications technology. 4 Growth in the use of personal computers was starting to encourage microcomputer and communication standardiza­ tion, although mainframes continued to dominate the market. 5 The majority of electronic payments were still between banks but corporate customers were participating more and more in electronic banking transactions. Personal computer power, usually in the form of a bank work station, gave corporate treasurers the abihty to receive and use data directly from banks.

There have already been significant changes in terms of the increased automation of the cheque clearing, the introduction of Real Time Gross Settlement (RTGS) in CHAPS and the imminent introduction of CHAPS euro clearing. However there remain very important challenges in areas such as plastic card fraud prevention, introduction of new payment instruments and electronic deHvery channels and the impHcations of the introduction of a single currency. The European Commission, recognizing the critical role played by payment systems in developed and healthy economies, is becoming increasingly involved in payment matters particularly and, appro­ priately, is acting as a catalyst in the development of more efficient cross-border payment mechanisms in the single European market.

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