Article Abstract:
More and more banks are using the World Wide Web to cut costs, generate new revenue sources and create value for customers. While research shows that the case for Web-based banking is strong, banking institutions need to consider customer economics in adopting a Web strategy. The key is to develop a good strategy for a Web banking site and determine the goals of the Web-based banking application. It is also important to evaluate whether the bank's Web site processes are compatible with the customers' processes to avoid disastrous results. Another consideration is to determine the type of Web site that a bank wishes to provide to its customers. For instance, the bank has to ask whether the site is informational, transaction-oriented or if it needs to play audio or video. Banks must also assess how their Web-based strategy will affect their staff.
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Article Abstract:
Credit will still be available in the 1990s, but it may be characterized by slightly higher costs. Borrowers may have to develop original ways of finding lenders, and lenders may evaluate borrowers more closely. The percentage of credit offered by savings institutions will continue to decline during the early 1990s. Most experts believe that credit-worthy consumers and commercial borrowers will have no trouble obtaining credit, but other borrowers may face tougher credit qualification guidelines. Growth will occur in industries that support credit, including credit grantors, third-party processors, and credit bureaus. Credit bureaus will become more influential in credit arbitration. In addition, the early 1990s will be characterized by new techniques for collecting, managing, and disseminating credit reports.
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Article Abstract:
Credit managers forecast continued economic difficulties for the credit industry in 1992. The recession will continue to place financial pressure on both the creditor and the customer as a result of low interest rates, bankruptcies and heightened debt levels. Consumers are expected to carry into 1992 their pragmatic approach to the use of credit information in 1991. Consumer confidence is not expected to improve quickly.
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