A review of banking, a vast and highly developed institution that functions in complex hierarchies with special controls and laws.
Written in 2008; 4,648 words; 12 sources; APA; $ 120.95
Paper Summary:
The paper discusses the service sectors which comprises vast groups of industries that cater to human needs in all spheres of existence. The paper specifically deals with the banking sector which falls under the field of services. The paper comments that the banking sector relates to the financial transaction requirements of the people and nations and even international monetary transactions.
Outline:
Introduction
Nature of Banking Services
The Reserve System & the Central Bank
Modern Banking
Globalization of Banking Sector
Changes in banking - After Globalization
Effects of Technology and Regulations on Banking Sectors
Technology and Banking
Electronic Banking
Summary and Conclusion
From the Paper:
"The types of services are based on agreements like banking service agreements which define the relationships of factors in the banking service. Lockbox agreements deal with the safety of deposits, valuables and handling of public funds. Two financial institutions also enter in to agreements called collateral agreements to regulate their internal working mechanisms to synchronize the working with each other. The trust and escrow agreements are today important in international transfers and import or export where the banks act as escrows. Recently the technology advance has brought in the wire transfer method where funds are transferred on line and banks provide this service to customers who wish to pay quickly without the usual clearing of checks."
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