Overview of technologies that support International banking

Abstract

The major technologies used within Tele-banking are ATM (Automatic Tele Machines) for cash point withdrawals and other banking services, home banking using personal computers and accounting software packages linked remotely to banks by modems, the Internet as a platform for electronic commerce, EDI (Electronic Data Interchange) and the electronic wallet or purse. It must be noted that in as much as each is assessed on its own merit or demerit, they usually work in consonance with each other. The author has considered how each one has been subjected to various security infringements, analysed customers reaction towards them and suggested ways that when considered could enhance their functionality.