Notes Based Techniques And Processes Of The New Technology Essay

Notes Based Techniques And Processes Of The New Technology Essay

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Carrington et al. (1997:72) stated that the challenge for banks is how to avoid simply automating the paper-based techniques and processes on which they have built their success and to redesign these processes from scratch and take advantage of the capabilities of the new technology. Carrington et al. (1997:72), citing Foster (1986), describes the S-Curve in Figure 2.9 as a slow progress during infancy followed by an explosion of growth and finally maturity. S-Curves usually come in pairs, with diminishing returns from the established technology providing much of the incentive for attempting the risky and expensive leap into the new infant technology. This is precisely where the banking industry found itself, in the difficult and dangerous gap between the S-Curves that Foster terms a ‘discontinuity’. This state of ‘discontinuity’ is critical as it requires banks to re-invent and improve technology taking their people on the journey of change in order to enhance their operations and use this as a competitive advantage over their rivals.
2.7.5. Porter 's 5 Forces

Figure 2.10: Porter 's 5 Forces
Source: Reprinted by permission of Harvard Business Review. From "How Competitive Forces Shape Strategy" by Michael E. Porter, March 1979. Copyright © 1979 by the Harvard Business School Publishing Corporation; all rights reserved.
The Five Forces Analysis assumes that there are five important forces that determine competitive power in a business situation. These are:
i. Supplier Power: Banking is now a capital intensive business with high fixed costs and low margins (Carrington et al., 1997).
ii. Buyer Power: Customers have a choice of three other major banks to turn to when they need better service and lower prices.
iii. Competitive Rival...


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...ment system risks. Borio and Bergh (1993:63) maintain that ensuring the safety and soundness of the payment system largely means seeing that safeguards are put in place to limit the likelihood and repercussions of a failure to settle obligations – the typical trigger and propagating channel of a financial crisis – through a better distribution and control of participants’ liquidity and credit exposures.
According to Digidata (2015), payment processing and reconciliations are part and parcel of many businesses in the financial services industry. Daily banking and investment transactions need to run smoothly, consistently and in an important context of audit control and risk mitigation. Large transaction volumes, manual intervention, different banking systems, service types and processes mean that this necessary aspect of infrastructure is inherently complex and risky.

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