Mitic, Peter;
(2017)
Trends in Banking 2017 and onwards.
arXiv.org: Ithaca (NY), USA.
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Abstract
The changing nature of the relationship between a retail bank and its customers is examined, particularly with respect to new financial concepts, debt and regulation. The traditional image of a bank is portrayed as a physical building a classical Doric portico. This image conveys concepts of service, soundness, strength, stability and security ("five-S"). That "five-S" concept is changing, and the evidence for changes that affect customers directly is considered. A fundamental legal problem associated with those changes is highlighted: a bank is no longer solely responsible for the safeguard of customer monies. A solution to this problem is proposed: banks should be jointly liable with perpetrators of criminal activity in the event of frauds as an encouragement to recognise and mitigate fraud.
| Type: | Working / discussion paper |
|---|---|
| Title: | Trends in Banking 2017 and onwards |
| Event: | 29th SASE Conference |
| Location: | Lyon, France |
| Dates: | 3rd-5th July 2017 |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.48550/arXiv.1705.10974 |
| Publisher version: | https://doi.org/10.48550/arXiv.1705.10974 |
| Language: | English |
| Additional information: | This version is the the author manuscript. For information on re-use, please refer to the publisher's terms and conditions. |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL BEAMS UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science > Dept of Computer Science |
| URI: | https://discovery.ucl.ac.uk/id/eprint/10163531 |
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