1、 外文翻译 Modern Solutions for the Banking Distrtbution Channels：e-Banking Strategy ,Cost and Beneficts Material Source: Korea Securities Research Institute Author:Assist. Ph.D Panait Nicoleta The banking industry is expected to be a leading player in e-business. Banks have established an Internet prese
2、nce with various objectives. Most of them are using the Internet as a new distribution channel. Financial services, with the use of Internet, may be offered in an equivalent quantity with lower costs to the more potential customers. In the Romanian case, there have been identified some specific issu
3、es that restrain e-banking adoption: penetration and skills (PC, Internet), attitude towards technology, security and privacy concerns; trust in banking institutions, banking culture, e-banking culture, Internet banking. 1 Introduction Banks have established an Internet presence with various objecti
4、ves. Most of them are using the Internet as a new distribution channel. Financial services, with the use of Internet, may be offered in an equivalent quantity with lower costs to the more potential customers. This means that banks may enlarge their market without opening new branches. The banks in t
5、he US are using the Web to reach opportunities in three different categories: to market information, to deliver banking products and services and to improve customer relationship. In Asia, the major factor restricting growth of e-banking is security, in spite of several countries being well connecte
6、d via Internet. Still, majority of banks in Asia is offering only basic services compared with those of the developed countries. Still, e-banking seems to have a future in Asia. E-banking will succeed if the basic features, especially bill of payment, are handled well. The banks have already started
7、 focusing on increasing and improving the e-banking services. As a part of this, the banks have begun to collaborate with various utility companies to enable the customers to perform various functions on-line. In Europe, the Internet is accelerating the reconfiguration of the banking industry into t
8、hree separate businesses: production, distribution and advice. This reconfiguration is further driven by the Internet, due to the combined impact of: 1. The emergence of new, more focused business models, 2. New technological capabilities that reduce banking relationship and transaction costs, 3. Hi
9、gh-degree of uncertainty over the impact that new entrants will have on current business models. Though e-banking in the Europe is still in the evolutionary stage, it is very clear that it is having a significant impact on traditional banking activities. Unlike the US, though large banks in the Euro
10、pe have a competitive edge due to their ability to invest in new technologies, they are still not ready to embrace e-banking. Hence, medium-sized banks and start-ups have an important role to play on the e-banking front if they can take concrete measures quickly and effectively. E-banking has unique
11、 characteristics that may increase an institutions overall risk profile and the level of risks associated with traditional financial services, particularly strategic, operational, legal, and reputation risks. These unique e-banking characteristics include: Speed of technological change, Changing cus
12、tomer expectations,Increased visibility of publicly accessible networks (e.g., the Internet), Less face-to-face interaction with financial institution customers, Need to integrate e-banking with the institutions legacy computer systems, Dependence on third parties for necessary technical expertise,P
13、roliferation of threats and vulnerabilities in publicly accessible networks. Management should review each of the processes discussed in this section to adapt and expand the institutions risk management practices as necessary to address the risks posed by e-banking activities. 2 E-banking strategy F
14、inancial institution management should choose the level of e-banking services provided to various customer segments based on customer needs and the institutions risk assessment considerations. Institutions should reach this decision through a board-approved, e-banking strategy that considers factors
15、 such as customer demand, competition, expertise, implementation expense, maintenance costs, and capital support. Some institutions may choose not to provide e-banking services or to limit e-banking services to an informational website. Financial institutions should periodically re-evaluate this dec
16、ision to ensure it remains appropriate for the institutions overall business strategy. Institutions may define success in many ways including growth in market share, expanding customer relationships, expense reduction, or new revenue generation. If the financial institution determines that a transac
17、tional website is appropriate, the next decision is the range of products and services to make available electronically to its customers. To deliver those products and services, the financial institution may have more than one website or multiple pages within a website for various business lines. 3
18、Cost-benefit analysis and risk assessment Financial institutions should base any decision to implement e-banking products and services on a thorough analysis of the costs and benefits associated with such action. Some of the reasons institutions offer e-banking services include: Lower operating cost
19、s, Greater geographic diversification, Improved or sustained competitive position, Increased customer demand for services, New revenue opportunities. The individuals conducting the cost-benefit analysis should clearly understand the risks associated with e-banking so that cost considerations fully i
20、ncorporate appropriate risk mitigation controls. Without such expertise, the cost-benefit analysis will most likely underestimate the time and resources needed to properly oversee e-banking activities, particularly the level of technical expertise needed to provide competent oversight of in-house or
21、 outsourced activities. In addition to the obvious costs for personnel, hardware, software, and communications, the analysis should also consider: Changes to the institutions policies, procedures, and practices; The impact on processing controls for legacy systems; The appropriate networking archite
22、cture, security expertise, and software tools to maintain system availability and to protect and respond to unauthorized access attempts; The skilled staff necessary to support and market e-banking services during expanded hours and over a wider geographic area, including possible expanded market an
23、d cross-border activity; The additional expertise needed to oversee e-banking vendors or technology service providers; The higher level of legal audit expertise needed to support technology-dependent services; Monitoring e-banking security, usage, and profitability and to measure the success of the
24、institutions e-banking strategy; Cost of insurance coverage for e-banking activities; Potential revenues under different pricing scenarios; Potential losses due to fraud; Opportunity costs associated with allocating capital to e-banking efforts. 4 Monitoring and accountability Once an institution im
25、plements its e-banking strategy, the board and management should periodically evaluate the strategys effectiveness. A key aspect of such an evaluation is the comparison of actual e-banking acceptance and performance to the institutions goals and expectations. Some items that the institution might us
26、e to monitor the success and cost effectiveness of its e-banking strategy include: Revenue generated, Website availability percentages, Customer service volumes, Number of customers actively using e-banking services, Percentage of accounts signed up for e-banking services, The number and cost per it
27、em of bill payments generated. Without clearly defined and measurable goals, management will be unable to determine if e-banking services are meeting the customers needs as well as the institutions growth and profitability expectations. In evaluating the effectiveness of the institutions e-banking s
28、trategy, the board should also consider whether appropriate policies and procedures are in effect and whether risks are properly controlled. Unless the initial strategy establishes clear accountability for the development of policies and controls, the board will be unable to determine where and why
29、breakdowns in the risk control process occurred. 5 Audit An important component of monitoring is an appropriate independent audit function. Financial institutions offering e-banking products and services should expand their audit coverage commensurate with the increased complexity and risks inherent
30、 in e-banking activities. Financial institutions offering e-banking services should ensure the audit program expands to include: Scope and coverage, including the entire e-banking process as applicable (i.e., network configuration and security, interfaces to legacy systems, regulatory compliance, in
31、ternal controls, and support activities performed by third-party providers); Personnel with sufficient technical expertise to evaluate security threats and controls in an open network (i.e., the Internet); Independent individuals or companies conducting the audits without conflicting e-banking or ne
32、twork security roles. 6 Security measures When financial institutions introduce e-banking or related support services, management must re-assess the impact to customer information under the existing regulations. It is necessary that financial institution to: Ensure the security and confidentiality o
33、f customer information; Protect against any anticipated threats or hazards to the security or integrity of such information; Protect against unauthorized access to or use of such information that could result in substantial harm or inconvenience to any customer. There are outlined specific measures
34、institutions should consider in implementing a security program. These measures include: Identifying and assessing the risks that may threaten consumer information; Developing a written plan containing policies and procedures to manage and control these risks; Implementing and testing the plan; Adju
35、sting the plan on a continuing basis to account for changes in technology, the sensitivity of customer information, and internal or external threats to information security. There are also outlined the responsibilities of management to oversee the protection of customer information including the sec
36、urity of customer information maintained or processed by service providers. 7 Key issues in Romania for internet banking In Romania, a significant number (23) of banks are providing e-banking services, phone banking, electronic banking, internet banking, mobile banking. Still, the number of users is
37、 very small if we compare it with the ones in the developed countries. In Romania, at the end of 2004, only 44.538 clients were using the online services according to the Ministry of Communication and Technology, while in Western Europe the number of users reached 57,9 million in the same period, in
38、 the USA there were 22,8 million clients and in Japan there were 21,8 million clients. In Romania, the number is growing but in a very low rhythm. In the Romanian case, there have been identified some specific issues for e-banking adoption: Access technology and infrastructure related factors: penet
39、ration and skills (PC, Internet), attitude towards technology, security and privacy concerns; Sector specific Internet banking factors: trust in banking institutions, banking culture, e-banking culture, Internet banking push; Other socio-economic factors: institutional trust, household income level,
40、 inflation rate, level of grey economy. As far as the Romanian e-banking development is concerned, experts agree that many of the innovating solutions will develop in parallel while some others will be faster. Home-banking will lose ground for the internet banking, the last one allowing the users al
41、l over the world make transactions through a simple internet connection. Mobile banking can have a larger dynamic than internet-banking on private persons as many of them have invested in mobile communication. The IMM-s will also prefer the internet banking. The e-banking solutions brought by the fo
42、reign banks and rapidly embraced by the local ones must be used and developed in parallel so that to offer the clients a variety of solutions Giurc Vasilescu, 2005. 8 Conclusions Thus, the nature of commerce will continue to change with the growing familiarity of the Internet and the World Wide Web.
43、 As one would expect, payment systems have been evolving to meet the changing needs of buyers and sellers. New payment instruments are being created to expand the reach of payment infrastructure that has been in place for decades; current systems are being reengineered at the fringe; and fundamental
44、ly, new payment systems are being developed as well. Price level on the e-banking and e-commerce market is lower than prices on traditional banking market. Thus, it is natural to stress that the differential in the prices charged for some products and services on the Internet would be smaller than t
45、he price differentials on the conventional banking market. So, the information technology makes it more difficult for central banks to accurately understand price conditions, which is an important basis for making monetary policy decisions. Central banks generally use short-term interest rates to in
46、fluence borrowing costs and thus the real economy. While the e-banking and e-commerce takes a stronger position, coupled with price flexibility, this will finally affect even the decision of monetary policy, meaning that the influence of the monetary policy on prices could even weaken. 现今为银行解决分销渠道的办
47、法：网上银行 策略，成本及盈利 资料来源： 韩国金融研究所 作者： Panait Nicoleta 电子商务 将成为银行业 的领先者。银行已与因特网建立了 相同 的目标。互联网作为一种新的销售网络渠道 ，使 金融服务 业能够 以更低的成本 条件为 更多的潜在客户提供同等数量 的服务 。 在现在的情况下， 已经 明 确 了 一些具体 的 问题 在 制约电子银行 的发展 ：渗透和技能 等 技术（电脑，互联网）对安全和隐私问题的态度，银行机构 、 银行文化 、 电子银行文化 对 网上银行的信任 程度 。 1 简介 将因特网 作为一种新的销售网络渠道 ， 银行已与因特网建立了 相同 的目标。金融服务
48、业能够 以更低的成本 条件为 更多的潜在客户提供同等数量 的服务， 这意味着银行可能会扩大而无需开新的分支 银行 机构。在美国的银行正在使用WEB来 把握 三类机会：市场信息，提供银行产品和服务，改善客户关系。在亚洲，主要制约 电子银行的 因素 是 电子银行的安全性，尽管在一些国家，正在通过 完善 互联网 的 连接 来提升安全性 。尽管如此大多数亚洲银行相对于发达国家只提供基本的服务 ， 电子银行在亚洲 有较大的发展空间 。电子银行业务取得成功的基本特征是支付账单处理得好。银行已经开始增加和改善电子银行服务。作 为这项工作的一部分，银行已开始与各公用事业机构合作，使客户能够进行联机的各种功能。
49、在欧洲互联网正在 快速 分成三个独立业务的银行业重组：生产 、 销售和咨询。这种重新配置，进一步推动了互联网 的发展 ， 也带来 合并后所产生的 影响： (1)新的更集中的商业模式 ； (2)出现新的技术能力，降低银行业务交易成本 ； (3)受 不明朗因素的影响，对新进入者 的传统 商业模式 将是挑战 。虽然电子商务在欧洲银行业仍处于进化阶段，很明显它正在对传统的银行业务活动产生重大影响。与美国不同，虽然在欧洲 的 大银行具有竞争优势，因为它们有能力投资于新技术，他们 还没有准备好接受电子银行。因此，如果中型银行在电子银行方面能够迅速和有效 的 采取具体措施 ，就将在 创业 和发展上 有重要作用。 电子银行具有独特的特性，可能会增加一个机构的整体风险状况 ， 与传统的金融服务 相比，电子银行在 战略 、 运作 、 法律风险的水平和声誉风险 方面会提高整体风险状况 。这些独特的电子银行的特点包括： 加快技术变革 ； 改变客户的期望 ； 提高公众开放的网络（如互联网）的知名度 ；增加 面对面与金融机构客户的互动 ； 需要整合电子邮件与该机构的电脑系统 漏洞； 依赖第三方必要
