Unfolding of Electronic Commerce and a New Banking System

Tetsuo Yamashita, Information Systems Division, Hitachi, Ltd.
Michitaka Kosaka, D.Eng, Systems Development Laboratory, Hitachi, Ltd.
Akira Horimai, Institute of Advanced Business Systems, Hitachi, Ltd.
Yasuhiko Mizuno, Institute of Advanced Business Systems, Hitachi, Ltd.


Electronic commerce (EC) is the electronic automation of all information exchange processes in business, and is even affecting the operation of financial institutions. Today, new financial services using open networks, such as the so-called network banking, are being born. From the user's point of view, this has the advantage that services can be received without regard to time or space limitations.

In promoting network banking, there are three points that need to be considered regarding the banking system. The first point is the creation of new services, such as electronic payment, through the network. The second point is the division of labor between electronic delivery and manned stores. Manned stores concentrate mainly on sales and consultations, with emphasis on direct customer contact. The third point is the strengthening of marketing operations. It is believed that such a system will increase the importance of relationship marketing with emphasis on direct service to customers.

In all cases, in order to build an efficient system it is essential to use advanced information technology. Hitachi, Ltd. is actively involved in developing a concept for a new banking system based on industry trends, and is providing solutions that will give the system practical significance.

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