TAILIEUCHUNG - The Future Of Wireless Banking (pdf)

Today’s banking and trading institutions realize they must move and move quickly to capitalize on new business opportunities in wireless banking and trading. Resistance to the implementation of wireless banking can lead to major losses at the business and market share levels. Wireless service soon will be a necessity for the end-user. Although many technological barriers need to be overcome, it is imperative to embrace the change. Wireless banking and trading is only an extension of the product offerings for the financial institutions. It is not an extension of web technology, as often perceived. Online banking and online trading works from standard TCP/IP connection to. | The Future of Wireless Banking Implementation of Wireless Banking and Financial Systems Rod Ghani Senior Consultant IBM Global Services 03 15 2001 Introduction Have you seen change yet Today s banking and trading institutions realize they must move and move quickly to capitalize on new business opportunities in wireless banking and trading. Resistance to the implementation of wireless banking can lead to major losses at the business and market share levels. Wireless service soon will be a necessity for the end-user. Although many technological barriers need to be overcome it is imperative to embrace the change. Wireless banking and trading is only an extension of the product offerings for the financial institutions. It is not an extension of web technology as often perceived. Online banking and online trading works from standard TCP IP connection to the Internet using a PC while wireless applications present a much greater challenge. Today wireless banking lacks leadership in enforcing one standard. There are several network standards PDA standards browsing standards protocol . In the wireless world airwaves are the only vehicle to send and receive data. Depending on the physical location- inside or outside of a building near or far from a tower in a small town versus a metropolitan area- quality is highly variable. Did my order go through Non-repudiation is one of the most contesting issues in wireless banking and trading. The user needs to have proof that the transaction has been executed and confirmed. Wireless banking is revolutionizing the makeup of every financial and banking institution. It is radically transforming the services needs and expectations of societies across continents regardless of culture. In the next twenty-four months and beyond massive changes will occur in the way we interact with banks and trading institutions regarding our business and personal finances. The revolution is driven by the client end-user demanding to have the .

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