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Author Kumar, Kuldeep ♦ van Hillegersberg, Jos
Source ACM Digital Library
Content type Text
Publisher Association for Computing Machinery (ACM)
File Format PDF
Language English
Abstract The financial services industry is in transition. Traditionally, financial services have been structured into four broad industry sectors: banking, insurance, equities/stock brokerage, and transaction services. The recent confluence of three trends---deregulation, globalization, and spread of information and communication technologies (ICTs)---has created new business opportunities. Deregulation has made it possible for financial service providers to expand their portfolio of services beyond their traditional sectorial offerings, while also allowing a variety of non-traditional participants to enter the financial services market. Concurrently, international and global trade agreements, for example, within the European Union, World Trade Organization, and the United Nations are attempting to harmonize regulations and standards across nations. Specification of international bank account formats, standardization of transaction interfaces for cross-bank and cross-national payments, security, and common customer-data privacy regulations are examples of such attempts at harmonization.
Description Affiliation: Erasmus University, The Netherlands (Kumar, Kuldeep; van Hillegersberg, Jos)
Age Range 18 to 22 years ♦ above 22 year
Educational Use Research
Education Level UG and PG
Publisher Date 2005-08-01
Publisher Place New York
Journal Communications of the ACM (CACM)
Volume Number 47
Issue Number 5
Page Count 5
Starting Page 26
Ending Page 30


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Source: ACM Digital Library