Banking on Innovation: Modernisation of Payment Systems by Tanai Khiaonarong

By Tanai Khiaonarong

Innovation in banking may be directed at bettering the infrastructure that fosters effective monetary companies and foreign exchange. during this paintings, innovation conception is used to teach how smooth fee platforms have reworked the know-how of banking and facilitated alterations within the approach and constitution of monetary companies businesses. layout, implementation and dissemination of check platforms are defined and the research in their bills and merits is mixed with case reviews of banks present process swap. by means of learning enterprise functions, skills, and assets, the method is prolonged to providers generally and associated with the facility of enterprises to compete and advertise nationwide economies. money structures fluctuate and complex and constructing economies face stumbling blocks of their criminal and technical infrastructure, and adulthood of banks. by way of adopting a world point of view, the ebook bargains a different comparative research that exhibits what sort of investments usually are powerful.

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Extra resources for Banking on Innovation: Modernisation of Payment Systems (Contributions to Economics)

Sample text

RITS supports the settlement of obligations for both high-value and low-value payment transactions between financial institutions through Exchange Settlement Accounts. RITS originally served as the central depository for Commonwealth government securities until early-2002, when it was transferred to the Austraclear System, a private depository and settlement system for debt securities. The central bank promotes safe and efficient payment systems by formulating policy guided by a high-level Payment Systems Board that is chaired by the central bank governor.

Firm resources may be tangible and intangible in nature. The tangible form of resources may include human, financial, physical, technological, and organisational resources. The intangible form of resources may include ‘invisible assets’ or ‘strategic assets’, including consumer trust, brand image, control of distribution, corporate culture, reputation, knowledge, know-how, capabilities, competencies, management skills, and technical skills (Itami 1987; Winter 1987). The role of strategic regulation, for example, can be a resource, and as a source of sustained competitive advantage, as suggested by its stimulation of demand and protection of rent-producing resources in the audit industry (Maijoor and Witteloostuijn 1996).

Powell and Dent-Micallef (1997) also suggest that IT was not a sole source of sustained competitive advantage, but rather its use in leveraging intangible and complementary human and business resources, including culture, strategic technology planning, and supplier relationships. Such IT assets may also be viewed as a firm’s physical, organisational, and human resources. Firstly, physical resources include the IT infrastructure. 5 Analytical Framework 25 and telecommunications equipment, aimed to increase efficiency in internal working processes and to improve the delivery of customer services.

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