Electronic funds transfer (EFT) systems include a wide range of computer-based payment systems and sources that substitute electronic and digital transfers for movements of cash and paper checks. A few years ago some people were predict ing that EFT would replace paper money and coins entirely and that we would soon be a "checkless" and' 'cashless" society. Such sweeping changes have not occurred, but a slower evolution is clearly underway. Although checks, cur rency, and coin are likely to be here for many years to come, EFT is becoming an established part of our worldwide payment transfer system, and the implications and consequences of this technology are real. They include: • Alterations in personal finance and in the process of purchasing and paying for consumer goods and services. • Changes in the structure of financial and retail organizations and their mode of interaction in the marketplace. • Modifications in the flow of funds in our society and in the interactions among economic institutions. • Alterations in the prospects for invasion of personal privacy, perpetration of fraud and theft, and violation of antitrust regulations. • Changes in the regulatory and competitive balance among the numerous financial institutions in the United States. Such alterations foretell important impacts on people and society. Benefits are forthcoming, but the costs will also be real.

Cash and Dash: How ATMs and Computers Changed Banking uses the invention and development of the automated teller machine (ATM) to explain the birth and evolution of digital banking, from the 1960s to present day. It tackles head on the drivers of long-term innovation in retail banking with emphasis on the payment system. Using a novel approach to better understanding the industrial organization of financial markets, Cash and Dash contributes to a broader discussion around innovation and labour-saving devices. It explores attitudes to the patent system, formation of standards, organizational politics, the interaction between regulation and strategy, trust and domestication, maintenance versus disruption, and the huge undertakings needed to develop online real-time banking to customers.

7 take advantage of the panel structure of their data to control for possible errors of specifica tion in their models. It is interesting to note that the econometric and DEA methods may be closer than some of their respective advocates seem to believe. Several of the studies show that the former as well as the latter can be effectively used to assess the relative effi ciency of groups of firms or individual firms, and one of them explicitly compare results arising from both (Fecher et al.). Econometric techniques can also be nonparametric and applied to estimating cost or production frontiers (and not only "average" functions), while ultimately DEA should be amenable to statistical inference. Perhaps the most valuable feature of all the analyses is their care and ingenuity in putting together the data, measuring variables, and pulling out relevant information. Many of them are not content with an overall output measure, but endeavor to manage with less aggregated measures. Nearly all also include in the estimated models a number of auxiliary variables intended to control for specific attributes of outputs, inputs, or production techniques, and other characteristics of firms.

The uproarious, bestselling true story of the world's most sought-after con man, immortalized by Leonardo DiCaprio in DreamWorks' feature film of the same name, from the author of Scam Me If You Can. Frank W. Abagnale, alias Frank Williams, Robert Conrad, Frank Adams, and Robert Monjo, was one of the most daring con men, forgers, imposters, and escape artists in history. In his brief but notorious criminal career, Abagnale donned a pilot's uniform and copiloted a Pan Am jet, masqueraded as the supervising resident of a hospital, practiced law without a license, passed himself off as a college sociology professor, and cashed over $2.5 million in forged checks, all before he was twenty-one. Known by the police of twenty-six foreign countries and all fifty states as "The Skywayman," Abagnale lived a sumptuous life on the lam—until the law caught up with him. Now recognized as the nation's leading authority on financial foul play, Abagnale is a charming rogue whose hilarious, stranger-than-fiction international escapades, and ingenious escapes-including one from an airplane-make Catch Me If You Can an irresistible tale of deceit.

The objective of this book is to provide banks and the financial industry at large with an analysis of what is and what is not a network at their service. The background to the book is electronic banking, and the foreground brings into perspective what has been done by forward-looking financial industries and the benefits they have achieved. While banking is today an industry, it cannot be satisfactorily compared to other industries as it operates too much by its own rules. Examples in the text have therefore been restricted to banking only and, more precisely, to the four generations of online financial networks which have evolved over the past twenty years in Japan. This book is a study addressed to the management of financial institutions. Computers and communications technologists will also gain from it both insight and foresight.

A practical guide to the practices and procedures of effectively managing banking risks Managing Risks in Commercial and Retail Banking takes an in-depth, logical look at dealing with all aspects of risk management within the banking sector. It presents complex processes in a simplified way by providing real-life situations and examples. The book examines all dimensions of the risks that banks face—both the financial risks—credit, market, and operational—and the non-financial risks—money laundering, information technology, business strategy, legal, and reputational. Focusing on methods and models for identifying, measuring, monitoring, and controlling risks, it provides practical advice backed up by solid theories, without resorting to the use of complicated mathematical and statistical formulas. Author Amalendu Ghosh exposes topics that are usually absent in books on managing banking risk—such as design of control framework, risk management architecture, credit risk rating, risk-based loan pricing, portfolio analysis, business continuity planning, and corporate governance. Author has extensive experience with a variety of major banks and institutions worldwide and brings a fresh perspective in the wake of the global finance crisis Presents a novel approach using models of the credit risk rating of different types of borrowers, the methodology for assigning weights for deriving the rating, and the scoring process Covers the essentials of corporate governance and options for credit risk assessment in line with the recommendations made in the New Basel Capital Accord Explains the methodology of risk-based internal audit, including techniques to enable bank branches to switch over from the old transaction-based audit methods With its logical sequence of the aspects of risk management, the book's layout is ideal for presentations, making it a handy tool for risk management training

This book offers 14 contributions that examine key questions in bank decision-taking,constitution of confidence in banks and risk management practices from Early Modernity to the twentieth century. It explores how the various mechanisms of bank decision taking changed over time. Chapters also analyse the types of risk management techniques used, the contributory factors to the constitution of confidence and the methods that banking historians can use to analyse and describe bankers ́ risk management and decision taking - from system theory to behavioural finance, new institutional economics to praxeology and convention theory to network analysis. The different methodological approaches are put to the test in case studies based on archive material from four hundred years of banking in order to connect banking history more closely to political and cultural history.