| Description |
xxiv, 235 pages : illustrations ; 23 cm |
| Series |
Palgrave Macmillan studies in banking and financial institutions |
|
Palgrave Macmillan studies in banking and financial institutions.
|
| Contents |
Foreword / Gerard Hartsink -- Pt. I. The Structure and Economics of Payment Systems -- 1. The Architecture of Payment Systems -- 2. Payment Instructions -- 3. Cross-Currency Payments and SWIFT -- 4. Risks in Payment Systems, Oversight and Security -- 5. The Role of Payment Systems in the Economy -- Pt. II. Overview of Current Payment Systems -- 6. European Payments and SEPA -- 7. The US Payment Systems -- 8. Major Asian Payment Systems -- 9. New entrants -- Pt. III. The Settlement of Trading Activities -- 10. The Settlement of Foreign Exchange Trades and CLS -- 11. Securities Settlement -- Pt. IV. Wholesale Payment, Cash Management and Trade Facilitation Services -- 12. The Requirements of Corporations -- 13. Corporate Banking Services -- Pt. V. Banks and the Payments Business -- 14. The Banks' Back Offices -- 15. Payments as a Business for Banks -- Pt. VI. The Future -- 16. Where is the Payments Industry Going? |
| Summary |
"In 2008 the world was rocked by the most serious financial crisis in decades, yet payment systems functioned unperturbed: salaries were paid out and bills settled as usual. Do we take payment systems for granted? They are, however, changing profoundly under the impact of competition, technology and regulation. Once a monopoly of banks, payment services are now under attack by entrants from outside the financial industry who will cherry-pick the most profitable areas. This book covers the various payment instruments, the architecture of payment systems, the risk management measures which allowed them to survive recent crises and the role of the various stakeholders. It describes the payment systems in Europe (SEPA), the US and major Asian markets and also covers the settlement of securities and FX trading. It examines the payment and cash management services required by corporations and how the banks are endeavoring to satisfy them. The book concludes with the authors views on the future of this fascinating business. Payment back offices were considered the banks salt mines, but boards now understand that payment services are an essential part of their global business strategy."--BOOK JACKET |
| Bibliography |
Includes bibliographical references (pages 208-215) and index |
|
Includes web resources |
| Subject |
Payment.
|
|
Clearinghouses (Banking)
|
|
Banks and banking, Central.
|
| Author |
Nacamuli, Alec, 1943-
|
| LC no. |
2008026093 |
| ISBN |
9780230202504 alkaline paper |
|
0230202500 alkaline paper |
|
