Computers and Banking

Electronic Funds Transfer Systems and Public Policy

  • Kent W. Colton
  • Kenneth L. Kraemer

Part of the Applications of Modern Technology in Business book series (AMTB)

Table of contents

  1. Front Matter
    Pages i-xv
  2. Introduction

    1. Front Matter
      Pages 1-1
    2. Kent W. Colton, Kenneth L. Kraemer
      Pages 3-17
  3. EFT Technology

    1. Front Matter
      Pages 19-19
    2. Thomas F. Horan
      Pages 21-38
  4. Impact on Society

    1. Front Matter
      Pages 53-53
    2. Kathryn H. Humes
      Pages 55-65
    3. Christopher E. Heller
      Pages 81-89
  5. Economic Impact

    1. Front Matter
      Pages 103-103
    2. Allen H. Lipis
      Pages 105-116
    3. Dwight M. Jaffee
      Pages 133-138
  6. EFT Regulation and Control

    1. Front Matter
      Pages 139-139
    2. Robert H. Long
      Pages 147-160
    3. Deborah R. Silverman
      Pages 161-165
  7. Monitoring and Evaluating EFT Systems

    1. Front Matter
      Pages 167-167
    2. Kent W. Colton
      Pages 197-209
    3. Richard C. Larson
      Pages 211-220
    4. Dale L. Reistad, Joseph F. Coates, Edwin B. Cox
      Pages 221-239
  8. Conclusion

    1. Front Matter
      Pages 241-241
    2. Kenneth L. Kraemer, Kent W. Colton
      Pages 243-268
  9. Back Matter
    Pages 269-309

About this book


Electronic funds transfer (EFT) systems include a wide range of computer-based payment systems and sources that substitute electronic and digital transfers for movements of cash and paper checks. A few years ago some people were predict­ ing that EFT would replace paper money and coins entirely and that we would soon be a "checkless" and' 'cashless" society. Such sweeping changes have not occurred, but a slower evolution is clearly underway. Although checks, cur­ rency, and coin are likely to be here for many years to come, EFT is becoming an established part of our worldwide payment transfer system, and the implications and consequences of this technology are real. They include: • Alterations in personal finance and in the process of purchasing and paying for consumer goods and services. • Changes in the structure of financial and retail organizations and their mode of interaction in the marketplace. • Modifications in the flow of funds in our society and in the interactions among economic institutions. • Alterations in the prospects for invasion of personal privacy, perpetration of fraud and theft, and violation of antitrust regulations. • Changes in the regulatory and competitive balance among the numerous financial institutions in the United States. Such alterations foretell important impacts on people and society. Benefits are forthcoming, but the costs will also be real.


Forth banking computer evolution interaction organization privacy retail service society system technology trust

Editors and affiliations

  • Kent W. Colton
    • 1
    • 2
  • Kenneth L. Kraemer
    • 3
    • 4
  1. 1.Graduate School of ManagementBrigham Young UniversityProvoUSA
  2. 2.Public Systems Evaluation, Inc.CambridgeUSA
  3. 3.Graduate School of AdministrationIrvineUSA
  4. 4.Public Policy Research OrganizationUniversity of California at IrvineIrvineUSA

Bibliographic information