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Innovation of Web-Based Financial Service - Term Paper Example

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This paper analyzes critically and assesses key innovations in web-based financial services, with particular emphasis on the short-comings and major successes of web-based technology. The analysis will particularly assess the impacts of a real-time transaction, increased market transparency…
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Innovation of Web-Based Financial Service
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Download file to see previous pages Of particular interest in a discussion is the often impact of web-based financial services that operate via cell phone. These technologies are making personal financial services available to customer populations that were previously geographically, linguistically and economically isolated from the global financial system. Such services have been extremely successful as Customer Relations Management (CRM) tools. On the other, hand the broader impacts of this increased integration remain to be seen. In this analysis, we will review and assess existing predictions on this subject, as well as extant relevant examples in the market. I conclude that innovations in web-based financial services, while vastly improving Customer Relations Management as well as market integration at all levels of banking and finance, may equally have a negative impact on volatility and vulnerability at both the highest and lowest sectors of the financial industry. Such transparency is likely to have some negative short-term impacts, while improving long-term efficiency in financial services, perhaps creating more crisis-resistant markets globally.
Innovation in web-based financial services has led to increased market transparency. While much analysis has been devoted to the significance of real-time transactions for global financial markets, less attention has been paid to the impacts of these new technologies at most humble ends of the banking sector. Internet financial services have vastly improved Customer Relations Management (CRM) in the first world; via cell phone banking, these services are already being vastly expanded to new markets in developing countries and among customers the world over who were previously under-banked and unbanked. These services are being widely and rapidly adopted across previously un-traversable barriers of distance, education, access, and culture.  ...Download file to see next pages Read More
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