The fast advancing global information infrastructure (including information technology and computer networks such as the Internet and telecommunications systems) enable the development of electronic commerce at a global level. The nearly universal connectivity which the Internet offers has made it an invaluable business tool. These developments have created a new type of economy, which many call the ‘digital economy’. This fast emerging economy is bringing with it rapidly changing technologies, increasing knowledge intensity in all areas of business, and creating virtual supply chains and new forms of businesses and service delivery channels such as e-banking.
As a direct consequence of the emergence of the ‘digital economy’, the balance of power seems to be shifting to the customers. Customers are increasingly demanding more value, with goods customised to their exact needs, at less cost, and as quickly as possible. To meet these demands, businesses need to develop innovative ways of creating value which often require different enterprise architectures, different IT infrastructures and different way of thinking about doing business. This transformation of business from an old company to a new agile electronic corporation is not easy and requires a lot of innovative thinking, planning and investment. This
book will cover many of these issues in e-banking context.
This chapter is an introduction to the themes covered in the book. It sets the background, defines the context and provides a basis for the material covered in the subsequent chapters.
