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Trends in Banking 2017 and onwards

Mitic, Peter; (2017) Trends in Banking 2017 and onwards. arXiv.org: Ithaca (NY), USA. Green open access

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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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