Next step: Banking on the Net

Article Abstract:

The next step after the development of telephone banking is computer banking, which UK banks are offering either on the Internet or on a PC banking basis. The Internet service provider, Prestel On-line found that while 86% of subscribers had not used Internet banking services, 94% expected to have done so by 2001. The Royal Bank of Scotland became the first UK bank to offer on-line banking in January 1997 and Nationwide building society has 50,000 customers using its on-line services. Barclays and Co-op have also launched Internet services. Barclays will keep its PC based service going in parallel for customers who doubt the security of the Internet. The attractions of launching Internet services for the bank are compelling. The transaction costs are four times cheaper than transactions made at branches and it provides a gateway into other markets and territories. Nationwide is targeting continental Europe, but will not have to invest in a physical infrastructure. In the US a 'pure Internet' bank, Atlanta Internet Bank, is able to offer savers significantly higher rates of interest, compared to it traditional rivals, due to the lack of a branch network to support.

Comment:

UK: Banks in country are developing computer banking which can be accessed either on Internet or on PC banking basis

United Kingdom, Services development, Article

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Put trust in the telephone, and invest down the line

Article Abstract:

Most UK banks now offer at least some element of telephone banking, while there are also telephone-only banks that offer more sophisticated services. However, telephone banking has so far not been made any cheaper than using a local bank branch, especially when telephone call costs are taken into account. It is worth considering postal and telephone accounts, as they often offer better rates of interest than banks and building societies. Furthermore, significant cost savings can be made through making investments over the telephone.

Functions related to deposit banking, Usage, Home banking services

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A division of the spoils

Article Abstract:

Split-capital investment trusts offer at least two forms of share class. This allows investors to purchase shares in a way that is directly appropriate for their needs. These trusts also have a winding-up date, when assets will be sold and the proceeds distributed to shareholders. This approach can appear attractive, but there can be some risks associated with split-capital investment trusts. The least risky type of split-capital trust share is zero-dividend preference shares.

Investment Offices, Investment Companies, Open-End Investment Funds, Analysis

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