Hi Salz!
Saving time, labor money and gaining in the money market for transaction
time differentials was the banks initial motivation but the co$t advantages
of unsupervised authentication assurances, liability confinment and real-time auditing
(read all as: higher security) brought by electronic transaction handling now far
outweigh any marginal gains from time, labor and money market -- at
least from the banks I know. Thir biggest problem now is dealing with liability
in multi-party scenarios -- where paper is a no-starter. If you have a different
feedback and can provide a reference, I would like to have it. Different banks
are in different points of the learning curve.
Cheers,
Ed Gerck
Rich Salz wrote:
> Ed Gerck wrote:
> > Why have banks moved and are moving more and more
> > a w a y from paper?
>
> To save money. Security has little to do with, compared to the effect of
> cost-reduction.
> /r$
