Home > Archive > Cobol > January 2005 > Online Tax and Banking (was: OT (Maybe): ERPs)
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Online Tax and Banking (was: OT (Maybe): ERPs)
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| Lueko Willms 2005-01-29, 8:55 am |
| .. On 29.01.05
wrote spamblocker-robert@wagner.net (Robert Wagner)
on /COMP/LANG/COBOL
in 1l7mv0dvjca77bpplm1g9d7ev4elcn4fie@4ax.com
about Re: OT (Maybe): ERPs
RW> I think 'banking software' was a reference to back office processing,
RW> not the customer interface.
No, what the bank runs on its computers would be "bank software";
I'm actually referring the software which runs on _my_ computer and
which administers my accounts with various banks. The interactive work
is done with _my_ program, not the bank's one. My banking program then
'talks' to the bank's software, getting statements and submitting
transfer orders.
Yours,
Lüko Willms http://www.willms-edv.de
/--------- L.WILLMS@jpberlin.de -- Alle Rechte vorbehalten --
Vorstellungen sind auch ein Leben und eine Welt. -G.C.Lichtenberg
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| Robert Wagner 2005-01-29, 3:55 pm |
| On 29 Jan 2005 09:12:00 GMT, l.willms@jpberlin.de (Lueko Willms)
wrote:
>. On 29.01.05
> wrote spamblocker-robert@wagner.net (Robert Wagner)
> on /COMP/LANG/COBOL
> in 1l7mv0dvjca77bpplm1g9d7ev4elcn4fie@4ax.com
> about Re: OT (Maybe): ERPs
>
>
>RW> I think 'banking software' was a reference to back office processing,
>RW> not the customer interface.
>
> No, what the bank runs on its computers would be "bank software";
>I'm actually referring the software which runs on _my_ computer and
>which administers my accounts with various banks. The interactive work
>is done with _my_ program, not the bank's one. My banking program then
>'talks' to the bank's software, getting statements and submitting
>transfer orders.
In the US, there is a Standard format for bank-to-bank transactions,
called ACH, but there is no standard for customer-to-bank. Some banks
have invented their own and provided their customers with proprietary
software. Because there is no standard, a single program cannot talk
to multiple banks.
A key concept is "origination". Customers are not permitted to
originate a transaction (cash transfer to another bank or another
customer's account); only banks can do that. Why? If customers could
pay their bills by originating ACH transfers, banks would become
clearing houses and FLOAT would disappear. It's all about protecting
float.
Online bill-pay gives the illusion of electronic funds transfer, but
there is actually a delay between withdrawal and deposit.
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| Richard 2005-01-29, 3:55 pm |
| > The interactive work is done with _my_ program,
That would come under Robert's """you've locked your users into
in-house developed software. """ then. ;-)
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