The Handbook of Banking Technology
Published on 25. March 2021
Book
Hardback
350 pages
978-1-119-32801-8 (ISBN)
Description
Competitive advantage in banking comes from effective use of technology
The Handbook of Banking Technology provides a blueprint for the future of banking, with deep insight into the technologies at the heart of the industry. The rapid evolution of IT brings continual change and demand for investment -- yet keeping pace with these changes has become an essential part of doing business. This book describes how banks can harness the power of current and upcoming technology to add business value and gain a competitive advantage; you'll learn how banks are using technology to drive business today, and which emerging trends are likely to drive the evolution of banking over the next decade.
Regulation is playing an ever increasing role in banking and the impact of regulatory change on technology and the management of it are discussed -- while mandatory changes put pressure on many of our high street banking brands, their ability to adapt and utilise technology will have a fundamental impact on their success in the rapidly changing marketplace.
Technology costs can amount to 15 per cent or more of operational costs and bank leaders need to be able to make informed decisions about technology investments in light of the potential benefits. This book explores the depth and breadth of banking technology to help decision makers stay up to date and drive better business.
* Assess your current technology against the new banking paradigms
* Procure the systems needed to protect the bottom line
* Implement newer technology more efficiently and effectively
* Ensure compliance and drive value with appropriate technology management
Technological change is driven by mass adoption of new channels, innovation from new entrants, and by banks themselves as a means of increasing revenue and reducing costs. The Handbook of Banking Technology offers a comprehensive look at the role of technology in banking, and the impact it will have in the coming years.
More details
Edition
1. Auflage
Language
English
Place of publication
New York
United States
Target group
Professional and scholarly
Product notice
sewn/stitched
Cloth over boards
Dimensions
Height: 251 mm
Width: 180 mm
Thickness: 35 mm
Weight
875 gr
ISBN-13
978-1-119-32801-8 (9781119328018)
Schweitzer Classification
Other editions
Additional editions
Tim Walker | Lucian Morris
The Handbook of Banking Technology
E-Book
02/2021
1st Edition
Wiley-ISTE
€49.99
Available for download
Tim Walker | Lucian Morris
The Handbook of Banking Technology
E-Book
02/2021
1st Edition
Wiley-ISTE
€49.99
Available for download
Persons
TIM WALKER is a former Partner in Deloitte's Financial Services Consulting practice. He has over two decades of experience working for banking and payments institutions implementing new front, middle, and back office technology.
LUCIAN MORRIS is the CIO of the Mortgage Advice Bureau in the UK. Formerly a Director in Deloitte's Financial Services Consulting practice, Lucian has worked with many of the UK high street banking and fintech start-up organisations and was CIO of Metro Bank during its launch.
LUCIAN MORRIS is the CIO of the Mortgage Advice Bureau in the UK. Formerly a Director in Deloitte's Financial Services Consulting practice, Lucian has worked with many of the UK high street banking and fintech start-up organisations and was CIO of Metro Bank during its launch.
Content
Preface ix
Chapter 1 Introduction 1
1.1 Banking and the Rise of Technology 1
1.2 The Challenges of Technology in Large Banks 3
1.3 Navigating This Book 4
1.4 References 7
Chapter 2 The History and Current State of Banking 8
2.1 A Brief History of Banking 8
2.2 Cash, Gold and Digital Money 11
2.3 Branch Centrism 14
2.4 Banking Consolidation 16
2.5 The Development of Modern Banking Products and Services 24
2.6 Developments in Banking Technology 33
2.7 The Challenges of Technology in Banking 39
2.8 New Banking Models 41
2.9 The Impact of the 2008 Banking Crisis 46
2.10 The Current State of Banking 50
2.11 Further Reading 55
2.12 References 56
Chapter 3 An Introduction to Banking Technology 67
3.1 Introduction 67
3.2 A Model of a Simple Bank 67
3.3 The Core Banking Platform 68
3.4 Database Architectures 72
3.5 Making Platforms Highly Available 80
3.6 Platform Architectures 85
3.7 Revisiting Our Simple Model of a Bank 91
3.8 Single Customer View 92
3.9 IBM CICS 95
3.10 Internet Banking 104
3.11 Customer Authentication 108
3.12 Remote Procedure Calls 113
3.13 Distributed Objects and CORBA 116
3.14 Services 117
3.15 Web Services 119
3.16 RESTful Web Services 123
3.17 Service-Oriented Architecture 125
3.18 An Updated Model of Our Bank 127
3.19 Application Processing 128
3.20 Microservices 129
3.21 Modern Databases 133
3.22 Data Analysis and Reporting 135
3.23 Further Reading 146
3.24 References 147
Chapter 4 Channels 149
4.1 Introduction 149
4.2 Branches 150
4.3 Branch Technology 152
4.4 Post 157
4.5 Automated Teller Machines 158
4.6 Telephony 168
4.7 Online Chat 169
4.8 Video Calling 169
4.9 Handling Telephone, Chat and Video Contacts 170
4.10 Text Messaging 194
4.11 Internet 195
4.12 Email 195
4.13 Mobile 196
4.14 Social Media 198
4.15 Marketing 198
4.16 Cross-channel Considerations and Implications 200
4.17 References 203
Chapter 5 Banking Operations 207
5.1 Contact Centre 207
5.2 Payment Operations 208
5.3 Cash Management 210
5.4 Credit Operations 210
5.5 Collections and Recoveries 213
5.6 Fraud Services 214
5.7 References 227
Chapter 6 Card Payments 230
6.1 Types of Card 230
6.2 Information on a Payment Card 232
6.3 How a Card Payment Works 233
6.4 Card Payment Networks 238
6.5 Other Types of Card Transactions 243
6.6 Managing Payment Cards 245
6.7 References 257
Chapter 7 Payments 259
7.1 Introduction 259
7.2 Cash 260
7.3 Cheques 262
7.4 Direct Credits 267
7.5 Clearing and Settlement 267
7.6 Interbank Payments 268
7.7 Payment Fraud and Sanctions 284
7.8 Payment Reconciliation 284
7.9 Payment Technology 286
7.10 References 294
Chapter 8 Regulation, Finance and Compliance 297
8.1 Introduction 297
8.2 Regulation 297
8.3 Global Standards 303
8.4 Working with (and within) Regulation 303
8.5 Finance Functions - Introduction 304
8.6 Finance 305
8.7 Treasury 307
8.8 Compliance 313
8.9 Human Resources 315
8.10 Procurement 317
8.11 Other Corporate Functions 317
8.12 References 318
Chapter 9 The Technology Function 321
9.1 Organisation and Governance 321
9.2 Conway's Law 325
9.3 Cost of Technology 326
9.4 Working with the Business - It's about the Service, Not the Technology 327
9.5 Service Management 329
9.6 Mapping Services to Applications 331
9.7 Governing the Application Estate 332
9.8 Insourcing and Outsourcing 334
9.9 Managing the Estate 337
9.10 Following the Rules - Regulation, Law and Technology 343
9.11 References 346
Chapter 10 The Future of Banking 348
10.1 Broad Trends 348
10.2 Changing Products, Features and Functions 352
10.3 The Future of Payments 352
10.4 Technology in Operations 354
10.5 Regulation 355
10.6 Finance 355
10.7 The Technology Function 356
10.8 A Short Digression on Data 356
10.9 Banking Products and Services 357
10.10 Distributed Ledger Technologies and Cryptocurrencies 359
10.11 The Future of the Branch 360
10.12 Headcount, Skills and Career Progression in the Bank of the Future 361
10.13 References 362
About the Authors 365
Index 367
Chapter 1 Introduction 1
1.1 Banking and the Rise of Technology 1
1.2 The Challenges of Technology in Large Banks 3
1.3 Navigating This Book 4
1.4 References 7
Chapter 2 The History and Current State of Banking 8
2.1 A Brief History of Banking 8
2.2 Cash, Gold and Digital Money 11
2.3 Branch Centrism 14
2.4 Banking Consolidation 16
2.5 The Development of Modern Banking Products and Services 24
2.6 Developments in Banking Technology 33
2.7 The Challenges of Technology in Banking 39
2.8 New Banking Models 41
2.9 The Impact of the 2008 Banking Crisis 46
2.10 The Current State of Banking 50
2.11 Further Reading 55
2.12 References 56
Chapter 3 An Introduction to Banking Technology 67
3.1 Introduction 67
3.2 A Model of a Simple Bank 67
3.3 The Core Banking Platform 68
3.4 Database Architectures 72
3.5 Making Platforms Highly Available 80
3.6 Platform Architectures 85
3.7 Revisiting Our Simple Model of a Bank 91
3.8 Single Customer View 92
3.9 IBM CICS 95
3.10 Internet Banking 104
3.11 Customer Authentication 108
3.12 Remote Procedure Calls 113
3.13 Distributed Objects and CORBA 116
3.14 Services 117
3.15 Web Services 119
3.16 RESTful Web Services 123
3.17 Service-Oriented Architecture 125
3.18 An Updated Model of Our Bank 127
3.19 Application Processing 128
3.20 Microservices 129
3.21 Modern Databases 133
3.22 Data Analysis and Reporting 135
3.23 Further Reading 146
3.24 References 147
Chapter 4 Channels 149
4.1 Introduction 149
4.2 Branches 150
4.3 Branch Technology 152
4.4 Post 157
4.5 Automated Teller Machines 158
4.6 Telephony 168
4.7 Online Chat 169
4.8 Video Calling 169
4.9 Handling Telephone, Chat and Video Contacts 170
4.10 Text Messaging 194
4.11 Internet 195
4.12 Email 195
4.13 Mobile 196
4.14 Social Media 198
4.15 Marketing 198
4.16 Cross-channel Considerations and Implications 200
4.17 References 203
Chapter 5 Banking Operations 207
5.1 Contact Centre 207
5.2 Payment Operations 208
5.3 Cash Management 210
5.4 Credit Operations 210
5.5 Collections and Recoveries 213
5.6 Fraud Services 214
5.7 References 227
Chapter 6 Card Payments 230
6.1 Types of Card 230
6.2 Information on a Payment Card 232
6.3 How a Card Payment Works 233
6.4 Card Payment Networks 238
6.5 Other Types of Card Transactions 243
6.6 Managing Payment Cards 245
6.7 References 257
Chapter 7 Payments 259
7.1 Introduction 259
7.2 Cash 260
7.3 Cheques 262
7.4 Direct Credits 267
7.5 Clearing and Settlement 267
7.6 Interbank Payments 268
7.7 Payment Fraud and Sanctions 284
7.8 Payment Reconciliation 284
7.9 Payment Technology 286
7.10 References 294
Chapter 8 Regulation, Finance and Compliance 297
8.1 Introduction 297
8.2 Regulation 297
8.3 Global Standards 303
8.4 Working with (and within) Regulation 303
8.5 Finance Functions - Introduction 304
8.6 Finance 305
8.7 Treasury 307
8.8 Compliance 313
8.9 Human Resources 315
8.10 Procurement 317
8.11 Other Corporate Functions 317
8.12 References 318
Chapter 9 The Technology Function 321
9.1 Organisation and Governance 321
9.2 Conway's Law 325
9.3 Cost of Technology 326
9.4 Working with the Business - It's about the Service, Not the Technology 327
9.5 Service Management 329
9.6 Mapping Services to Applications 331
9.7 Governing the Application Estate 332
9.8 Insourcing and Outsourcing 334
9.9 Managing the Estate 337
9.10 Following the Rules - Regulation, Law and Technology 343
9.11 References 346
Chapter 10 The Future of Banking 348
10.1 Broad Trends 348
10.2 Changing Products, Features and Functions 352
10.3 The Future of Payments 352
10.4 Technology in Operations 354
10.5 Regulation 355
10.6 Finance 355
10.7 The Technology Function 356
10.8 A Short Digression on Data 356
10.9 Banking Products and Services 357
10.10 Distributed Ledger Technologies and Cryptocurrencies 359
10.11 The Future of the Branch 360
10.12 Headcount, Skills and Career Progression in the Bank of the Future 361
10.13 References 362
About the Authors 365
Index 367