Article Abstract:
A smart card is a credit-card-like transaction card with a microprocessor chip that stores and processes information and transactions. It is increasingly used by banks and financial services firms because of the changing attitudes of consumers, growing public acceptance and falling cost of technology, increased interest in remote business transactions, concerns about fraud and security, and the financial services industry's search for new sources of revenue. There are five major areas of smart card application that banks and other financial services institutions are interested in: as payment vehicles, as access keys, as information managers, as marketing tools and as customized delivery systems. Some of the new opportunities offered by the smart card technology in the credit business are discussed.
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Article Abstract:
Companies in the financial services industry need to focus on how to promote changes to their operations to establish and maintain value. Firms should learn how to become flexible to promote solutions to concerns related to consolidation and increases in competition in the industry. They should also learn how to effectively organize management expertise and experience in support of business initiatives and corporate goals. Companies should also entice their management staff to determine growth initiatives and deploy the necessary resources for achieving them. In addition, credit professionals should analyze their individual function in promoting innovations and delivery of value. They should learn how to become portable and recognize the possibility of making numerous career moves.
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Article Abstract:
The Federal Arbitration Act (FAA) was passed by Congress to provide guidance to transactions involving interstate commerce. However, while it was widely thought to govern consumer transactions, the US Supreme Court has been silent on the law's application on a contract between a business and a consumer. The Court was compelled to clarify this issue in the 'Allied-Bruce Terminix Cos. Inc. vs. Dobson' case. In this case, it overturned the Alabama Supreme Court's decision to prohibit the use of arbitration to resolve the case. The US Supreme Court established that the FAA applies to all arbitration agreements concerned with interstate commercial transactions and that this law has primacy over contrary anti-arbitration state laws.
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