Computers and Banking

1. Front Matter

   Pages i-xv

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2. Introduction

   1. Front Matter

      Pages 1-1

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   2. EFT as a Case of Technology and Public Policy

      • Kent W. Colton, Kenneth L. Kraemer

      Pages 3-17

3. EFT Technology

   1. Front Matter

      Pages 19-19

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   2. Outlook for EFT Technology

      • Thomas F. Horan

      Pages 21-38

   3. Status of EFT: An Assessment of Services and a Review of EFT in the Fifty States

      • Peter D. Louderback

      Pages 39-52

4. Impact on Society

   1. Front Matter

      Pages 53-53

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   2. EFT and the Consumer: An Agenda for Research

      • Kathryn H. Humes

      Pages 55-65

   3. More Inequality: An Exploration of Potential Impacts of EFT on Stratification in American Society

      • Starr Roxanne Hiltz, Murray Turoff

      Pages 67-80

   4. EFT, Privacy, and the Public Good

      • Christopher E. Heller

      Pages 81-89

   5. Vulnerabilities of EFT Systems to Intentionally Caused Losses

      • Donn B. Parker

      Pages 91-102

5. Economic Impact

   1. Front Matter

      Pages 103-103

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   2. Costs of the Current U.S. Payments System

      • Allen H. Lipis

      Pages 105-116

   3. An Overview of the Economic Characteristics of Electronic Funds Transfer Systems

      • Mark G. Bender

      Pages 117-132

   4. National Economic and Monetary Impacts of EFT

      • Dwight M. Jaffee

      Pages 133-138

6. EFT Regulation and Control

   1. Front Matter

      Pages 139-139

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   2. Problems and Policies in Making EFT Available to the Public

      • George W. Mitchell

      Pages 141-146

   3. Public Protection and Education Under EFT

      • Robert H. Long

      Pages 147-160

   4. Regulatory and Operational Issues in EFT

      • Deborah R. Silverman

      Pages 161-165

7. Monitoring and Evaluating EFT Systems

   1. Front Matter

      Pages 167-167

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Electronic funds transfer (EFT) systems include a wide range of computer-based payment systems and sources that substitute electronic and digital transfers for movements of cash and paper checks. A few years ago some people were predict­ ing that EFT would replace paper money and coins entirely and that we would soon be a "checkless" and' 'cashless" society. Such sweeping changes have not occurred, but a slower evolution is clearly underway. Although checks, cur­ rency, and coin are likely to be here for many years to come, EFT is becoming an established part of our worldwide payment transfer system, and the implications and consequences of this technology are real. They include: • Alterations in personal finance and in the process of purchasing and paying for consumer goods and services. • Changes in the structure of financial and retail organizations and their mode of interaction in the marketplace. • Modifications in the flow of funds in our society and in the interactions among economic institutions. • Alterations in the prospects for invasion of personal privacy, perpetration of fraud and theft, and violation of antitrust regulations. • Changes in the regulatory and competitive balance among the numerous financial institutions in the United States. Such alterations foretell important impacts on people and society. Benefits are forthcoming, but the costs will also be real.

• Forth
• banking
• computer
• evolution
• interaction
• organization
• privacy
• retail
• service
• society
• system
• technology
• trust

• Graduate School of Management, Brigham Young University, Provo, USA

  Kent W. Colton

• Public Systems Evaluation, Inc., Cambridge, USA

  Kent W. Colton

• Graduate School of Administration, Irvine, USA

  Kenneth L. Kraemer

• Public Policy Research Organization, University of California at Irvine, Irvine, USA

  Kenneth L. Kraemer

Policies and ethics