2006-10-12 05:30:56 · 5 answers · asked by Dennis Y 2 in Social Science ➔ Economics
Possibly less tellers physically at the bank and more to take calls when online banking goes wrong. IT security and infrastructure of the bank will have to stepped up to provide secure transactions and to ensure privacy. Might encourage global trasactions instead of regional ones and so the bank will have to revise its legal agreements to ensure they are protected no matter what country is dealing with them. Many more IT audits will be necessary to ensure everything is legit.
2006-10-12 06:10:08 · answer #1 · answered by Anonymous · 0⤊ 0⤋
It is very slowly happening. Major banks have created online accounts. Much stockmarket business is now done online - certificated accounts are in decline. If by "financial institutions" you mean pension funds and investment and unit trusts, it's not obvious there'll be much change at all..... their marketing must follow where the money is so expect more online advertising, but they will still need to sponsor sport, advertise on posters etc.
I don't see the Cnetral Banks changing much. Money supply is the same online or offline, it's nearly all numbers in accounts anyway.
2006-10-16 02:59:52 · answer #2 · answered by MBK 7 · 0⤊ 0⤋
It is like we never lost the office after having all those technologies available today to run a virtual office. Financial instituions functions will remian the same, just less paper work, probably, not for sure, less interaction then they will have time to work for further efficiency of the system and search for way to bring the whole financial instituiotn to a new level of service
2006-10-18 22:23:37 · answer #3 · answered by LEPRAMALEL 1 · 0⤊ 0⤋
The change of functions would of course be computerized. The human element would be at a minimum. Important word to the wise though, IS it wise to put all of ones eggs in one basket? I have been told that one day in the future, the grid will wipe out all computers. What then? Sure everyone will yell back up, but as for me, I would rather be present than rely on machines.
2006-10-18 18:47:46 · answer #4 · answered by Riki 1 · 0⤊ 0⤋
Money slowly becomes obsolete, all people have chips implanted into their bodies, each carrying all financial, social, and criminal histories. Financial institutions slowly become only warehouses for computer servers.
Actually, I don't know, but that sounded cool, didn't it?
;)
2006-10-19 19:20:57 · answer #5 · answered by Tim 4 · 0⤊ 0⤋