System Architecture for Cross Border Payment A Case Study for the Financial Services Industry

The financial services industry is changing rapidly as a result of advances in information technology (IT), telecommunications and the Internet. Technological innovations and increasing customer demand have led to the emergence of new services and new organizational forms for financial services firms. Willingly or unwillingly, banks are being forced to move toward worldwide operation. This enables them to offer services and credit facilities on a global scale, tailored to customers regardless of where they are based. However, variations among national markets present obstacles as well as opportunities to companies attempting to “go global.” This paper describes specific problems and solutions for the globalization of banking services, and a case study carried out on payment services for an international bank to develop a new system architecture for cross border payment. The proposed architecture aims to keep a part of the processes local, but transfers the core of the transaction ...

• Type: Conference
• Year: 2003
• Where: HICSS
• Authors: Nadia Ayad, Alexander Verbraeck
• Keywords: Biometrics, Financial Services, Financial Services Firms, Financial Services Industry, HICSS 2003, System Sciences