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GLOBAL BANKING > E-BANKING AND MNC > Flashcards

E-BANKING AND MNC Flashcards

1
Q

These use of computers and telecommunications enables banking transactions to be done by telephone or computer rather than through human interaction.

A

E-BANKING/ ELECTRONIC BANKING

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2
Q

Features include electronic funds transfer for retail purchases, automatic teller machines (ATMs), and automatic payroll deposits and bill payments.

A

E-BANKING

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3
Q

Reduced the physical transfer of paper money and coinage from one place to another or even from one person to another.

A

ELECTRONIC BANKING

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4
Q

Relies on intricate computer systems that communicate using telephone lines.

A

ELECTRONIC BANKING

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5
Q

A method of banking in which the customer conducts transactions electronically

A

ELECTRONIC BANKING

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6
Q

A form of banking in which funds are transferred through an exchange of electronic signals rather than through an exchange of cash, checks, or other types of paper documents.

A

ELECTRONIC BANKING

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7
Q

TYPES OF E-BANKING:

A

INTERNET BANKING
MOBILE BANKING
AUTOMATED TELLER MACHINE
SMART CARDS
ELECTRONIC FUND TRANSFER
ELECTRONIC CLEARING SERVICES
TELEBANKING
DOOR STEP BANKING

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8
Q

also known as electronic fund transfer

A

ELECTRONIC BANKING

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9
Q

ELECTRONIC BANKING IS KNOWN AS?

A

ELECTRONIC FUND TRANSFER

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10
Q

It covers some electronic consumer transactions.

A

ELECTRONIC FUND TRANSFER ACT

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11
Q

known as net-banking or online banking, is an electronic payment system that enables the customer of a bank or a financial institution to make financial or non-financial transactions online via the internet.

A

INTERNET BANKING

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12
Q

Federal Reserve Wire Network, called Fedwire. This system allows participants to handle large, time-sensitive payments, such as those required to settle real estate transactions.

A

LARGE SYSTEM

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12
Q

ATM network, a set of interconnected automated teller machines that are linked to a centralized financial institution and its computer system.

A

SMALL SYSTEM

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13
Q

Brick and mortar:

A

TRADITIONAL

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14
Q

Click and Mortar:

A

MODERN/DIGITAL

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15
Q

bank of America as one of the First Institutions to Develop the Idea of Electronic Computers for Banking Tasks.

A

1950s

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16
Q

New York City Banks Test At-Home Banking

A

1981

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17
Q

Bank of Scotland Institutes First UK Internet Banking Services

A

1983

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18
Q

NetBank is Founded

A

1996

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18
Q

Stanford Federal Credit Union Offers U.S. 13 Internet Banking

A

1994

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19
Q

Bank of internet USA is founded

A

1999

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20
Q

Bank of America has 3 million Online Customers

A

2001

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21
Q

80% of US Banks offer internet banking

A

2006

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22
Q

Ally Bank is launched

A

2009

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23
Q

Online banking is standard practice

A

2018

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24
Q

Online Baking is growing faster than the internet

A

2010

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25
Q

When is “National Online Bank Day”

A

OCTOBER 14

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26
Q

BEST BANKS IN THE PHILIPPINES 2023 ¬– FORBES

A

CIMB
PNB
BPI
UNION BANK
BDO
LANDBANK
PSBANK
RCBC
MAYA BANK
ROBINSONS BANK

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27
Q

business owners, accounting staff and other approved employees can routine access banking activity such as deposits, cleared checks and wired funds quickly through an online banking interface.

A

BUSINESS ACTIVITY REVIEW

28
Q

e-banking leads to productivity gains. Automating routine bill payments, minimizing the need to physically visit the bank.

A

IMPROVED BUSINESS PRODUCTIVITY

29
Q

banking relationships and costs are often based on resource requirements.

A

LOWER BANKING COST

30
Q

REASONS WHY ONLINE BANKING IS IMPORTANT IN TODAY’S TIME

A

SECURITY ASSURED
ACCESS: NO PROBLEM
NO HIDDEN FEES
CONVENIENCE GUARANTEED
MONITOR YOUR ACCOUNTS CLOSELY

31
Q

automation of payments, wires or other consistent financial activities ensures payments are made on time and may prevent errors caused by keyboard slips or user error.

A

REDUCED BANKING ERRORS

31
Q

encryption client identity system guarantee authenticity, legality, and effectiveness of the customer information to prevent theft account, identity risk.

A

The System of Encrypting Client Identity

32
Q

WHAT ARE RISK CONTROL OF ELECTRONIC BANKING

A
  1. Access to Electronic Banking Market Must be Strict
  2. Strict Approval of Electronic Banking
  3. Follow the Termination Rules of Electronic Banking
  4. Improve the Risk Management System of Electronic Banking
32
Q

increased scrutiny of corporate finances through audits and anti-fraud measures requires a high level of visibility for all financial transactions.

A

INCREASED SCRUTINY AND REDUCED FRAUD

32
Q

criminalizes unlawful activities such as graft and corrupt practices, fraudulent practices, robbery and extortion, swindling and plunder, amongst other activities

A

ANTI MONEY LAUNDERING ACT OF 2001 OR RA 9160

33
Q

the system of encrypting client identity safety assessment measures

A

RISK CONTROL OF ELECTRONIC BANKING

34
Q

the information disclosure system urged the bank to keep customer protection and privacy laws and regulations, it can help to restrict bank legal risks and reputation risks.

A

Information Disclosure System of the Bank

35
Q

electronic equipment safety is the unity of applied and the in ternal control system, its function is to ensure the integrity, authenticity and confidentiality of the data and the operation process.

A

Electronic Equipment Safety Measures

35
Q

bank and the customer have the law relationship of financial service, the electronic payment service agreement between the bank and its customer can improve safety consciousness of the customer, prevent the comprehensive business risk.

A

SERVICE AGREEMENT

36
Q

safety evaluation refers to in process of developing electronic banking business electronic banking safety strategy, financial institutions should inspect and assess the safety test and control ability on the safety strategy, internal control institution, risk management and the consumer security.

A

Safety Assessment Measures

36
Q

acompany that does business in select few countries around the world and operates facilities such as warehouses or distribution centers in at least one foreign country

A

MULTINATIONAL COMPANY

37
Q

An enterprise that is headquartered in
one country but has operations in one or more countries.

A

MULTINATIONAL CORPORATION

38
Q

according to the possible risk due to internal procedures, service, product transfer caused by abnormal condition, the bank should ensure that emergency measures.

A

Emergency Treatment Measures

39
Q

have a strong presence in
their home country.

A

DECENTRALIZED CORPORATION

39
Q

4 TYPES OF MNC

A

DECENTRALIZED CORPORATION
GLOBAL CENTRALIZED CORPORATION
INTERNATIONAL COMPANY
TRANSNATIONAL ENTERPRISES

40
Q

where decision-making authority, operations, and management are spread across
different locations or subsidiaries, often
with a significant degree of autonomy.

A

DECENTRALIZED CORPORATION

41
Q

a central administrative office in the home country. They may outsource production to
developing countries to save time and production costs while making use of local resources.

A

GLOBAL CENTRALIZED CORPORATION

42
Q

characterized by a centralized
management structure that makes key decisions and controls operations from a
single headquarters or main office.

A

GLOBAL CENTRALIZED CORPORATION

43
Q

conducts business activities in multiple countries, but it does not necessarily have a strong
integration or coordination of operations between these countries. Each country’s
operations may function relatively independently

A

INTERNATIONAL COMPANY

44
Q

utilize the resources of the parent company to develop new products or features that will help them gain a competitive edge in local market

A

INTERNATIONAL COMPANY

44
Q

have a narrower focus, which is regarding a particular market in a country or region.

A

TRANSNATIONAL CORPORATION

45
Q

may only produce goods or services that can be
sold in a specific market, such as cotton products, snacks, etc

A

TRANSNATIONAL CORPORATION

46
Q

Countries with the most number of
MNCs based there;

A

USA
CHINA
JAPAN
UK (UNITED KINGDOM)
AUSTRALIA
CANADA
INDIA
TAIWAN
SOUTH KOREA
FRANCE
SWITZERLAND
SWEDEN
GERMANY
HONGKONG

47
Q

Challenges of Multinational
Companies

A

Cultural differences
Different political and legislative Environments
Long supply chain
Managing geopolitical and economic risk
competition in the global market
currency fluctuations

48
Q

This refers to difficulties in the localization of products, marketing strategy, and corporate culture

A

Culture Differences

49
Q

MNCs have to adapt to different
regulations affecting their

A

Different political and legislative environment

50
Q

Coordinating transportation from one country to another can be very complex and time-consuming.

A

long supply chain

51
Q

This refers to the political and economic stability of the host countries

A

managing geopolitical and economic risk

52
Q

Competing with other global companies can be more challenging

A

competition in the global market

53
Q

MNCs are affected by changes in exchange rates of multiple currencies

A

currency fluctuations

54
Q

Culture is what shapes us, it is the reason we have certain beliefs, influences how we behave and is what gives us our identity

A

cultural diversity

55
Q

Other cultures perceive time as
cyclical and endless. More importance is placed on doing things right and maintaining harmony, rather than
worrying about getting things done “on time”

A

attitudes towards appoinments and deadlines

56
Q

a promise to give yourself, your money, your time, etc., to support or buy something: Try the product for two weeks with no commitment to buy.

A

attitudes towards agreements and commitments

57
Q

FACTORS WHICH CONTRIBUTE TO THE GROWTH OF MNCs

A

Market expansion
Market Superiorities
Financial Superiorities
Technological Superiorities

57
Q

ADVANTAGES

A

Access to consumers
Access to labors
Overall development
Technology
Research and development
Exports and imports
MNC’s to help in curbing local monopolies

58
Q

DISADVANTAGES

A

Laws
Intellectual Property
Political
Loss of local business
Loss of natural resources
Money flows
Transfer of capital

59
Q

Multinational enterprises based in the Philippine

A

Jollibee
San Miguel Corporation
SM
Max’s Group

60
Q

DIVERSITY CREATES LACK OF
COHESION

A

a. mistrust
b. miscommunication and language barriers
c. work stress

GLOBAL BANKING (2 decks)

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