35,967 research outputs found
The U.S. retail payments system: moving to the future
Payment systems
Nonbanks in the payments system
Nonbanks have always been a key component of the nation's payments system. In recent years, however, nonbanks have become even more prominent. This heightened visibility raises several questions. In which payments activities are nonbanks engaged? What roles do nonbanks play in specific payments types? What types of risk are potentially associated with nonbank participation? This paper begins to address these questions. Preliminary findings include: (1) Nonbanks are involved in a myriad of activities and roles, both in traditional and emerging payments types; (2) Nonbank business relationships with banks and other participants in the payments systems are often highly complex and interrelated; (3) Nonbanks are rarely directly involved in settlement activities and, hence, appear to be associated with limited settlement and systemic risk; (4) Both nonbanks and banks appear to be increasingly susceptible to operational risk factors. ; Published as a book in 2003.Payment systems ; Nonbank financial institutions ; Nonbank activities
Trends in Banking 2017 and onwards
The changing nature of the relationship between a retail bank and its
customers is examined, particularly with respect to new financial concepts,
debt and regulation. The traditional image of a bank is portrayed as a physical
building a classical Doric portico. This image conveys concepts of service,
soundness, strength, stability and security ("five-S"). That "five-S" concept
is changing, and the evidence for changes that affect customers directly is
considered. A fundamental legal problem associated with those changes is
highlighted: a bank is no longer solely responsible for the safeguard of
customer monies. A solution to this problem is proposed: banks should be
jointly liable with perpetrators of criminal activity in the event of frauds as
an encouragement to recognise and mitigate fraud.Comment: Proceedings 29th SASE Conference, Lyon France, June-July 201
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