Banking on Innovation: Modernisation of Payment Systems by Tanai Khiaonarong

By Tanai Khiaonarong

Innovation in banking may be directed at enhancing the infrastructure that fosters effective monetary companies and foreign alternate. during this paintings, innovation conception is used to teach how smooth check platforms have reworked the expertise of banking and facilitated adjustments within the approach and constitution of monetary prone agencies. layout, implementation and dissemination of money structures are defined and the research in their bills and merits is mixed with case experiences of banks present process switch. through learning company functions, expertise, and assets, the process is prolonged to companies generally and associated with the facility of corporations to compete and advertise nationwide economies. money platforms range and complex and constructing economies face hindrances of their felony and technical infrastructure, and adulthood of banks. by means of adopting a world standpoint, the booklet deals a distinct comparative research that indicates what sort of investments usually are potent.

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Its interest groups and clearing companies formulate their own budget, while costs are allocated among members based on a formula. This is based on the level of activity a member is involved with or their share of the total number of transactions handled in a given clearing system. Thus, members with a higher share of transaction volumes are required to pay a larger share for the cost of clearing operations, and vice versa. For example, CHAPS settlement member banks are required to pay entry and annual fees, which is determined by their respective shares of the total volume of transactions handled by the system.

The role of strategic regulation, for example, can be a resource, and as a source of sustained competitive advantage, as suggested by its stimulation of demand and protection of rent-producing resources in the audit industry (Maijoor and Witteloostuijn 1996). The ability of firms, sectors, and nations to compete rests on acquiring, adapting, and advancing such resources which are the sources of innovation. 24 2 Payment Systems: An Innovation Perspective For example, one firm may replicate the technological resources from another firm through technology transfer and imitation to gain or sustain their competitive advantage in the same sector.

This has included assets, capabilities, competencies, knowledge, know-how, resources, routines, and skills. For example, Wernerfelt (1984) has defined resources as ‘anything which could be thought of as a strength or weakness of a given firm…(tangible and intangible) assets which are tied semi-permanently to the firm’. One of the most important issues, however, is in determining their ‘strategic state description’ which is in identifying and characterising organisational behavioural patterns that are sources of long-term success in firms (Winter 1987).

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