Computers and Banking
Electronic Funds Transfer Systems and Public Policy

Edited by: Kent W. Colton and Kenneth L. Kraemer

During the past decade, the technology for a major change in American society's payment and fund transfer system has been developed. However, implementation of electronic funds transfer (EFT) systems has proceeded at a far slower pace than originally anticipated. The vision of a checkless and cashless society has been met with suspicion and even hostility from some consumers and certain elements in the financial community. Today, the major emphasis of EFT technology has shifted from such radical revisions to a modification of the existing financial system and a slower evolution of automated financial services.

Recognizing the vast potential for new problems, opportunities, and solutions generated by EFT, Computers and Banking addresses itself to not only EFT systems per se, but also the broader implications of large-scale technological innovation. The volume was developed through close interaction with the National Commission on EFT, and its broad range of technology, representatives from the financial community, and specialists in public policy relating to EFT. Social, economic, regulatory, and privacy-related questions concerning both the evolution and impact of EFT are considered, and the first prioritized agenda for investigations is presented, identifying research relevant to the formation of public policy now and in the future.

Computers and Banking will be of great interest to professionals in public management, banking, finance, public administration, and public policy formulation, as well as to government officials, students of technology's impact on society, and members of the concerned public.