Chapter 16 - Online banking and investing. This chapter includes contents: Online banking services, online loans, how the web is changing the investment community, merging financial services, financial aggregation services, wireless banking and trading, financial planning online. | Chapter 16, Online Banking and Investing Outline Introduction Online Banking Services Hybrid Banks Internet-Only Banks Online Loans How the Web Is Changing the Investment Community Electronic Communication Networks (ECNs) Online Trading Online Bond Trading Merging Financial Services Financial Aggregation Services Wireless Banking and Trading Financial Planning Online Introduction Topics of discussion Online banking services provided by Internet-only banks Click-and-mortar banks The impact of the Internet on Wall Street Online stock and bond trading Electronic communication networks (ECNs) Financial aggregators Online lending and mortgage services Financial planning Online Banking Services Brick-and-mortar banks have become click-and-mortar Internet-only banks lack the brand awareness and recognition of the click-and-mortar banks Internet banking services can reduce expenses Online payment decreases the float The time it takes for checks to clear after they have been sent for payment or deposited Online Banking Services Internet delivers payments faster than mail Frees up cash and decreases accounts receivable The expected amount of payments owed to a company for products and services sold to customers Benefits to customers Can avoid buying stamps Do not have to send bills out early Account information available 24-by-7 Can view detailed account history at one time online instead of listening to individual transactions over the phone Risks Security breaches Office of the Currency (OCC) has warned people that sites mimicking bank sites can scam them for account information Hybrid Banks Hybrid bank model Brick-and-mortar banks offering online services Prominence of brick-and-mortar brand names increase customers’ comfort levels when banking online Customers can visit a physical branch Physical presence includes the large network of ATMs Some charge monthly fees to . | Chapter 16, Online Banking and Investing Outline Introduction Online Banking Services Hybrid Banks Internet-Only Banks Online Loans How the Web Is Changing the Investment Community Electronic Communication Networks (ECNs) Online Trading Online Bond Trading Merging Financial Services Financial Aggregation Services Wireless Banking and Trading Financial Planning Online Introduction Topics of discussion Online banking services provided by Internet-only banks Click-and-mortar banks The impact of the Internet on Wall Street Online stock and bond trading Electronic communication networks (ECNs) Financial aggregators Online lending and mortgage services Financial planning Online Banking Services Brick-and-mortar banks have become click-and-mortar Internet-only banks lack the brand awareness and recognition of the click-and-mortar banks Internet banking services can reduce expenses Online payment .
