Sign In

Communications of the ACM

New architectures for financial services


The financial services industry is in transition. Traditionally, financial services have been structured into four broad industry sectors: banking, insurance, equities/stock brokerage, and transaction services. The recent confluence of three trends---deregulation, globalization, and spread of information and communication technologies (ICTs)---has created new business opportunities. Deregulation has made it possible for financial service providers to expand their portfolio of services beyond their traditional sectorial offerings, while also allowing a variety of non-traditional participants to enter the financial services market. Concurrently, international and global trade agreements, for example, within the European Union, World Trade Organization, and the United Nations are attempting to harmonize regulations and standards across nations. Specification of international bank account formats, standardization of transaction interfaces for cross-bank and cross-national payments, security, and common customer-data privacy regulations are examples of such attempts at harmonization.

The full text of this article is premium content


No entries found

Log in to Read the Full Article

Sign In

Sign in using your ACM Web Account username and password to access premium content if you are an ACM member, Communications subscriber or Digital Library subscriber.

Need Access?

Please select one of the options below for access to premium content and features.

Create a Web Account

If you are already an ACM member, Communications subscriber, or Digital Library subscriber, please set up a web account to access premium content on this site.

Join the ACM

Become a member to take full advantage of ACM's outstanding computing information resources, networking opportunities, and other benefits.

Subscribe to Communications of the ACM Magazine

Get full access to 50+ years of CACM content and receive the print version of the magazine monthly.

Purchase the Article

Non-members can purchase this article or a copy of the magazine in which it appears.