Qualls

Casey Qualls
Padgett
English 102 sec 27
20 October 2016

The Modern Era of Technology within The Banking System:

An Annotated Bibliography

Inquiry: How has technology change the banking system over the last 30 years?
Proposed Thesis: Technology and online banking systems has changes tremendously over the
years, due to advancements within the system with new software programs. It has a lot of
strengths and weaknesses when you deal with technology and people.
Introduction:
When was the last time you had to actually go to the bank just to check your account
balance or even to pay bills? Probably weeks or even years ago because technology has gotten so
advance I can check my balance and pay my light while Im actually typing this paper. The
Banking industry has made the modern day banking online and everything is at the touch or your
hand even logging in. In the early 2000s investors built banks that were only online and the use
of the phone when you talking to customer service. Technology advancements made it possible
for these such types of banks to be open, but with the good comes the bad. A lot of things have
changed in these 20 years and its only the beginning.
Berger, Allen N. "The Economic Effects of Technological Progress: Evidence from the Banking
Industry." SSRN Electronic Journal SSRN Journal 35.2 (2003): 141-76. Web. 28 Nov.
2016.
In this Journal, the author explains the technological progress and the effects on the
banking Industry. Banks have really stepped up and became active users of IT and financial
technology. Not only does this create wealth for the banks but it build a trust between the
customer and the bank. The research claims improvements in costs and lending capacity is due to
improvements in the technology with the banks. The author also examines the evidence on
technological progress and how it shapes the baking industry. The structure of the Banking
Industry and The Use of Selected Technologies, 1984-2001 (pg. 143). This was a chart showing
the increasing number of new IT and financial technologies. The number of physical banking
offices using human tellers has expanded at a 2.1 % annual rate, Whereas the number of ITbased ATMS has expanded at 10.1% annual rate (pg. 144). ATMs are growing at an alarming
rate and this all due to technology advancements.

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Donnie, Daniel, Neil Murphy, and Longbrake William. "The Effect of Technology on Bank
Economies of Scale for Demand Deposits." The Effect of Technology on Bank
Economies of Scale for Demand Deposits. American Finance Association, 11 Mar. 1997.
Web. 27 Oct. 2016.
Demand deposits pertain funds that are held in a bank account from which the funds can
be withdrawn at any given moment. Banks have different choices about which type of
technology to apply in handling demand deposits. There are several different ways you can
handle demand deposits which are conventional bookkeeping punched card tabulates and off-line
sorters. The real purpose of the study was to choose how the different varieties of technology
affect the cost of the servicing demand. The Impact of technical change on productivity in the
current range of available technology would seem to be a useful contribution to the discussion of
the payments mechanism (pg. 132). This relates back to back to my thesis, demand deposits are
one of the strengths that modern day technology has impacted on the banking system. The
impact has made the world such a unique place.
Franke, Gnter. "Transformation of Banks and Bank Services." Journal of Institutional and
Theoretical Economics (JITE) / Zeitschrift Fr Die Gesamte Staatswissenschaft 154.1,
The New Institutional Economics Financial Institutions in Transition: Banks and
Financial Markets (1998): 109-33. JSTOR. Web. 28 Oct. 2016.
In the journal, Transformation of Banks and Bank Services Gunter Frank analyzed the
transformation of banks driven by innovation in financial products and information technology.
Banks usually face a variety of strategic choice trying to include the life cycle of financial and
the range it is supplied. Over the last few years the advancements of technology had the
competition for banks very dramatic and changes every day. Before World War 11 iron and coal
mining were competitive since then industrial branches with textile and consumer electronics
have taken over. Since then things like Bank Merger happens, its a device to cut back on the
number of office and employees. Chase bank merged together with the Chemical Bank for a
positive outcome. Marketing techniques are still of a highly personalized nature, since the
benefits of the new instrument must be explained to customers to raise the trade volume (pg.
116 2.2). Gunter Franke tells us how banks and technology has grown so advance, not only can
online bank but the banking industry can market different benefits. This is good for the bank and
the bank member gives people outlets and sources that they never had before the advancement of
technology. The World Bank is supporting
Menon, Usha. "World Bank and Transfer of Technology: Case of Indian Fertilizer Industry."
Economic and Political Weekly 15.34 (1980): 1437-443. JSTOR. Web. 28 Oct. 2016.
Usha Menon analyze the theory and practice of the World Bank in the development of
indigenous productive forces in the fertilizer industry in India. During the 1960s technology
became one the key factors in developing undeveloped countries. Transferring technology was
important because it was the voice for scientific works and the government and international
agencies. The ongoing debate is whether technology can be usefully borrowed with or without a
foreign investment. India doesnt have a correct banking infrastructure to use this new

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technology. The World Bank is at present the single- most important institution influencing the
development strategies of the undeveloped country(pg 1439). World bank supports the good
side of the banking system and they try to make sure that everybody has at least a fair chance.
Banking and technology have strengths and weakness but the system has cultivated the World for
the better.

Nunziata, Susan. "Bank Of America's Digital Transformation: Where IT Fits In InformationWeek." InformationWeek. UBM Technology, 27 Oct. 2016. Web. 27 Oct.
2016.
Competitive analysis is the basic form to examine what other companies in your field are
doing to keep the customers happy. Bank of America has token this approach and tripled the
money they invest into their digital budget. BOA recognized that the customers compared their
online and mobile experience to other major companies that deal with mobile apps such as Uber
and Amazon. Bank of America Information technology has a critical role and involvement in
ensuring the digital experiences throughout the organization for the customers. Bank of America
CTO David Reilly was interview and he summed up the effect of the digital formation and the
progress. Its underappreciated how much of your infrastructure has to change (par 2). What
David Reilly was implementing is that in order for to company to progress the basic model of
banking has to change tremendously.
Sessions, William S. "Washington." WASHINGTON: The FBI's War on Bank Fraud: Facts and
Figures 33.4 (1990): 57-59. Web. 27 Oct. 2016.
In the article, The FBIs War on Bank Fraud: Facts and Figures author William sessions
showed deep concern about the devastating out lash bank fraud has caused Texas. Fraud has
jeopardies the financial security of every single person in our country. Due to all the vast new
technology like one- touch and you can access youre online makes it so much easier for people
to commit fraud. Recently a rapper from Texas was robbed of four hundred thousand dollars,
where somebody wired the money without his permission. The problem was big that the bank
wouldnt not even the give him his money back and he had to take it to the Supreme Court. The
author asked a vague question, How does Texas fit in this picture (pg. 57)? There 530 cases of
fraud in the U.S and out of that number 198 were in Texas 37 percent. Fraud has made it way to
the top and people are really get scammed out of their money .This articles relays back to my
proposed thesis how technology can either strengthen or have a decline.