Banking on the new technology—Choices and constraints

摘要

This paper examines the implications of recent and future technological changes and choices in the banking industry. It tries to avoid one common approach, namely: listing new computing and telecommunications equipment; assessing how rapidly it will diffuse into the banks; and then assessing the effects on employment and skills. The reason for avoiding this approach is because it has not been successful in building up a picture of the complex relationships between technological changes and employment and work. Our approach attempts to integrate classification of technological changes with study of banking operations and competition and cooperation within and between banking and financial organizations. The paper concentrates on issues surrounding technological innovations in the clearing banks.