ELECTRONIC PAYMENTS AND MAINTENANCE OF INFORMATION SYSTEMS

Technologization banking is a recent phenomenon, which has occurred - at a faster or a slower pace, during the last thirty years. The entire banking industry is quite inert and prone to traditional and verified methods. However, the number of transactions in the banking industry has grown to unexpected proportions, so that traditional methods of processing transactions are no longer possible. The problem has grown to such an extent that it threatens the stability of the entire financial system. Because the U.S. Government, in mid-sixties, took measures for the automation of transactions, especially those that are performed frequently and at irregular intervals, as a result - it incurred the automatic clearing bank and a national electronic payment system such as CHIPS and Fedwire. These interbank systems offered operations for billing and payment that have been developed for large payments within the national borders, while other transactions – across the national boundaries - were based on earlier payments architecture. The need for automating transactions across national borders has led to the creation of an international banking payment system at large. Specifically, in the early seventies this was founded in Brussels, and a little later came with the IBOS and FNA. This, for some time, solved the problem of automation of transactions in the banking industry at large.