Electronic Delivery of Financial Services.

... Electronic Delivery of Financial Services Mustafa Ali Türker AliTurker@garanti.com.tr 1 Contents Electronic Delivery of Financial Services 1 1 Contents 1 2 Introduction 2 3 Retail Banking 2 4 Electronic Delivery Channels and Products 2 4.1 Alternative Channels 2 4.1.1 ATM 3 4.1.2 Telephony 3 4.1.3 Internet 5 4.1.4 Mobile phones 6 4.1.5 TV banking 7 4.2 Banking Products 8 4.2.1 Traditional products 8 4.2.2 The new banking products 8 4.2.3 Segmentation 9 5 Banking Systems for Electronic Delivery 9 5.1 Front-end and Presentation 10 5.2 Middleware and Messaging 11 5.3 Back-end and the Business Rules 12 5.4 Security 13 5.4.1 Encryption 13 5.4.2 Firewalls 14 5.4.3 Authentication 14 6 Banking Organization for Electronic Delivery 15 7 Future Trends 16 7.1 Breakdown of Geographic Barriers 16 7.2 Commoditization of Banking Products and New Competitors 16 7.3 New Competitive Strategies for Banks 16 7.4 Banking on Technology 16 7.4.1 Customer relationship management - CRM 16 7.4.2 Virtual banks 17 7.4.3 Data mining 18 7.4.4 Intelligent agents 18 7.4.5 Biometrics 18 7.4.6 Mobile wireless access devices 19 8 Conclusion 19 9 Resources 20 2 Introduction Basic economic functions can be identified as the answers to a set of questions -- what to produce, how to produce it, and how to distribute the output. This functional perspective to banking has given rise to the separation of the economic activities of banks into classes like commercial, corporate, small business, or retail. Involving direct contact with customers, retail banking needs the strongest functionalities on its distribution channels. Basic conditions for these channels to succeed can be given as : 1. Strong bank

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