Electronic Finance

A New Approach to Financial Sector Development?

By: Thomas Glaessner, Stijn Claessens, Daniela Klingebiel

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Paperback | 31 March 2002

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108 Pages

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In recent years, the delivery of financial services has changed consistent with technological advances that have occurred. On-line banking, on-line trading and brokerage services, and capital markets are available and utilized in varying degrees in the industrialized nations of the world. Beyond the availability of services on-line, E-Finance is redefining the cost and competitive structure of financial services. This convergence of technology and financial services provides opportunities for emerging markets to leapfrog in the development and delivery of financial services.This paper identifies issues arising from the spread of E-Finance including the readiness of telecommunications infrastructure, public policy and regulatory requirements, and financial sector development approaches. It hopes to stimulate dialogue on the role E-Finance can play in supporting the World Bank's overall mission.

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You Can Find This Book In

Non-Fiction Accounting & Finance Finance Banking Economics Development Economics & Emerging Economies Computing & I.T.Computer Science Digital Lifestyle & Online World: Consumer & User Guides Internet Guides & Online Services Industry & Industrial Studies Service Industries

Financial Services Industry Business & Management Business Aspects of E-Commerce

Foreword	p. v
Abstract	p. vii
Acknowledgments	p. ix
Executive Summary	p. 1
The Recent Past and Possible Future of Electronic Finance	p. 5
The New World of Financial Services	p. 17
Changes Needed in Financial Sector Policies	p. 23
E-finance Applications--and Implications for Government	p. 39
Annexes
Data Sources and Methodology for the Projections	p. 47
Recent Reports by International E-finance Working Groups	p. 49
Types of Online Trading Systems	p. 59
Selected Smart Card Projects in Emerging Markets and Developing Countries	p. 67
Selected E-finance Examples in Emerging Markets and Developing Countries	p. 75
E-Finance Web Links	p. 81
References	p. 89
Bibliographical Note	p. 97
Tables
E-finance has achieved significant penetration in most industrial countries and many emerging markets	p. 6
Consumers and countries around the world are getting better connected, 1999	p. 8
Emerging markets' capital is increasingly owned, traded, and listed abroad, 2000	p. 10
The takeoff point for online banking depends on the level of connectivity	p. 12
E-finance will slash banks' net interest margins, 2005 and 2010	p. 15
The Internet is changing features of financial services	p. 20
A new paradigm is emerging for financial sector development	p. 24
Progress is being made in creating an enabling regulatory environment	p. 28
E-finance regulation has yet to address some outstanding issues	p. 33
Current e-finance initiatives by international bodies	p. 50
Fixed-income trading systems	p. 62
Major U.S. online stock brokerages	p. 64
Figures
Capital raised by companies in American depository receipts, 1980-2000	p. 9
Value traded by companies in American depository receipts, 1980-2000	p. 9
E-banking penetration: actual and projected rates for 2000, 2005, and 2010	p. 13
Different service providers and delivery channels are combining to create a new world of financial services	p. 18
Boxes
Mobile phones: The developing world's technological springboard	p. 7
The new world of financial service providers	p. 17
The massive shifts in stock markets and exchanges	p. 19
Leapfrogging around the globe: Estonia, Republic of Korea, and Brazil	p. 21
The institutional approach to financial sector development	p. 23
Enhancing connectivity in emerging markets by improving telecommunications regulation	p. 25
Privacy problems--the role of the public sector and private solutions	p. 26
Securities regulation, the Internet, and emerging markets	p. 30
Principles for managing risk in online banking	p. 31
Challenges for market regulation within and across countries	p. 37
Making creative use of existing public infrastructure: Post offices	p. 40
Smart cards: A clever way to leapfrog?	p. 40
Mortgage finance: The impact of the Internet	p. 41
Insurance: E-financeable?	p. 42
E-finance for small and medium-size enterprises	p. 43
Microfinance and e-finance--a viable match?	p. 44
FinNet: Toward a paperless infrastructure backbone for financial services	p. 45
Table of Contents provided by Syndetics. All Rights Reserved.

Electronic Finance

A New Approach to Financial Sector Development?

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Paperback

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