The Imminence of a Checkless Society
Article Abstract:
Technologists predict that the end of the 1980s will bring an end to cash and checks. Electronic transactions are expected to replace paper-based exchanges and change the job of credit executives. Much of the technology for electronic transactions was developed by financial institutions. Among innovations have been lockboxes, transaction telegraphing and automatic check processing. The automated depository transfer check system and balance reporting systems have been other milestones. The electronic corporate-to-corporate payment system of the First National Bank of Chicago involves a function called SPRINT. It is a system for payables, receivables, and information transfer in use since 1980. The major obstacle to a checkless society is the emotional factor of needing tangible evidence of assets.
Publication Name: Credit & Financial Management
Subject: Business
ISSN: 0011-0973
Year: 1984
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Fifth Third recognizes tech needs
Article Abstract:
Fifth Third Bank of Cincinnati, Ohio, plans to add new technologies, services, and products while at the same time training employees and developing new products to keep up with the competition.
Publication Name: Global Finance
Subject: Business
ISSN: 0896-4181
Year: 2003
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