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TECHNOLOGY and the Banking Industry

In addition, to fully leverage e-commerce, companies are integrating e-commerce applications with existing enterprise-wide systems (Violino, 1997).

These e-commerce transactions today are moving over a mix of public and private networks. This marketplace is taking shape today, and the most significant, sophisticated applications--those bringing competitive benefits to those companies with the vision and the sense of urgency require a blend of software, services and systems integration ("Internet Banking, 1999).

Companies adopting e-commerce need to understand all of the elements and options involved to be able to choose the appropriate mix. For example, many companies are now grappling with the most basic decision--whether to outsource the cost and complexity of electronic commerce or keep it in house. There is a growing market for products and services that simplify the e-commerce decision and implementation process. Among the top benefits cited for a move to electronic commerce are decreased overhead costs from interfacing to back-end functions.

This indicates that businesses expect to gain the most advantage by streamlining their processes rather than by simply increasing sales by adding the Internet as a new channel. These agile, global corporations using e-commerce technologies are the wave of the future. T


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