Chapter1FinanceBasics金融學(xué)

全套可編輯PPT課件

LearningObjectivesAfterstudyingthischapteryouwillunderstand:Whatafinanceis.Whatthepersonalfinanceis.Whatthecorporatefinanceis.Whatthecapitalis.Whattheportfoliois.Whatquantitativebehavioralfinanceis.Whatthebudgetis.Whatthepublicfinanceis.FinanceBasics

Financeisabroadtermthatdescribesactivitiesassociatedwithbanking,leverageordebt,credit,capitalmarkets,money,andinvestments.Basically,financerepresentsmoneymanagementandtheprocessofacquiringneededfunds.ThemaintechniquesandsectorsofthefinancialindustryThefieldoffinancereferstotheconceptsoftime,moneyandriskandhowtheyareinterrelated.Banksarethemainfacilitatorsoffundingthroughtheprovisionofcredit,althoughprivateequity,mutualfunds,hedgefunds,andotherorganizationshavebecomeimportant.Themaintechniquesandsectorsofthefinancialindustry

Abankaggregatestheactivitiesofmanyborrowersandlenders.Abankacceptsdepositsfromlenders,onwhichitpaystheinterest.Thebankthenlendsthesedepositstoborrowers.Banksallowborrowersandlenders,ofdifferentsizes,tocoordinatetheiractivity.Banksarethuscompensatorsofmoneyflowsinspace.Themaintechniquesandsectorsofthefinancialindustry

Aspecificexampleofcorporatefinanceisthesaleofstockbyacompanytoinstitutionalinvestorslikeinvestmentbanks,whointurngenerallysellittothepublic.Thestockgiveswhoeverownsitpartownershipinthatcompany.Themaintechniquesandsectorsofthefinancialindustry

Financeisusedbyindividuals(personalfinance),bygovernments(publicfinance),bybusinesses(corporatefinance),aswellasbyawidevarietyoforganizationsincludingschoolsandnon-profitorganizations.

Bank

Abankisafinancialintermediarythatacceptsdepositsandchannelsthosedepositsintolendingactivities,eitherdirectlyorthroughcapitalmarkets.Abankconnectscustomerswithcapitaldeficitstocustomerswithcapitalsurpluses.

Personalfinance

Personalfinanceistheapplicationoftheprinciplesoffinancetothemonetarydecisionsofanindividualorfamilyunit.Itaddressesthewaysinwhichindividualsorfamiliesobtain,budget,save,andspendmonetaryresourcesovertime,takingintoaccountvariousfinancialrisksandfuturelifeevents.

Corporatefinance

Corporatefinanceisanareaoffinancedealingwiththefinancialdecisionscorporationsmakeandthetoolsandanalysisusedtomakethesedecisions.Theprimarygoalofcorporatefinanceistomaximizecorporatevaluewhilemanagingthefirm'sfinancialrisks.

Public

financePublicfinanceincludestax,spending,budgeting,anddebtissuancepoliciesthataffecthowagovernmentpaysfortheservicesitprovidestothepublic.Thefederalgovernmenthelpspreventmarketfailurebyoverseeingtheallocationofresources,distributionofincome,andeconomicstability.Regularfundingissecuredmostlythroughtaxation.Borrowingfrombanks,insurancecompanies,andothernationsalsohelpfinancegovernmentspending.

Capital

Financialcapitalcanrefertomoneyusedbyentrepreneursandbusinessestobuywhattheyneedtomaketheirproductsorprovidetheirservicesortothatsectoroftheeconomybasedonitsoperation,i.e.retail,corporate,investmentbanking,ect.

Capitalbudget

Capitalbudgetistheprocessinwhichabusinessdetermineswhetherprojectssuchasbuildinganewplantorinvestinginalong-termventureareworthpursuing.

CashbudgetCashBudget

isanestimationofthecashinflowsandoutflowsforabusinessorindividualfora

specificperiodoftime.Cashbudgetsareoftenusedtoassesswhethertheentityhassufficientcashtofulfillregularoperationsand/orwhethertoomuchcashisbeingleftinunproductivecapacities.

Insurance

Insurance,inlawandeconomics,isaformofriskmanagementprimarilyusedtohedgeagainsttheriskofacontingentloss.Insuranceisdefinedastheequitabletransferoftheriskofaloss,fromoneentitytoanother,inexchangeforapremium,andcanbethoughtofasaguaranteedsmalllosstopreventalarge,possiblydevastatingloss.163Publicfinance

Publicfinanceisafieldofeconomicsconcernedwithpayingforcollectiveorgovernmentalactivities,andwiththeadministrationanddesignofthoseactivities.Financialeconomics

Financialeconomicsisthebranchofeconomicsstudyingtheinterrelationoffinancialvariables,suchasprices,interestratesandshares,asopposedtothoseconcerningtherealeconomy.

Financialmathematics

Financialmathematicsisamainbranchofappliedmathematicsconcernedwiththefinancialmarkets.Financialmathematicsisthestudyoffinancialdatawiththetoolsofmathematics,mainlystatistics.Experimentalfinance

Experimentalfinanceaimstoestablishdifferentmarketsettingsandenvironmentstoobserveexperimentallyandprovidealensthroughwhichsciencecananalyzeagents'behaviorandtheresultingcharacteristicsoftradingflows,informationdiffusionandaggregation,pricesettingmechanisms,andreturnsprocesses.

QuantitativeBehavioralFinanceQuantitativeBehavioralFinanceisanewdisciplinethatusesmathematicalandstatisticalmethodologytounderstandbehavioralbiasesinconjunctionwithvaluation.

IntangibleAssetFinance

IntangibleAssetFinanceisthebranchoffinancethatdealswithintangibleassetssuchaspatents(legalintangible)andreputation(competitiveintangible).Summary

Thefieldoffinancereferstotheconceptsoftime,moneyandriskandhowtheyareinterrelated.Abankaggregatestheactivitiesofmanyborrowersandlenders.Abankacceptsdepositsfromlenders,onwhichitpaystheinterest.Thebankthenlendsthesedepositstoborrowers.Banksallowborrowersandlenders,ofdifferentsizes,tocoordinatetheiractivity.Financeisusedbyindividuals(personalfinance),bygovernments(publicfinance),bybusinesses(corporatefinance),aswellasbyawidevarietyoforganizationsincludingschoolsandnon-profitorganizations.Personalfinanceistheapplicationoftheprinciplesoffinancetothemonetarydecisionsofanindividualorfamilyunit.Summary

Corporatefinanceisanareaoffinancedealingwiththefinancialdecisionscorporationsmakeandthetoolsandanalysisusedtomakethesedecisions.CashBudget

isanestimationofthecashinflowsandoutflowsforabusinessorindividualfora

specificperiodoftime.Cashbudgetsareoftenusedtoassesswhethertheentityhassufficientcashtofulfillregularoperationsand/orwhethertoomuchcashisbeingleftinunproductivecapacities.Budget

isanestimationofthe

revenueandexpensesoveraspecifiedfutureperiodoftime.Summary

Insurance,inlawandeconomics,isaformofriskmanagementprimarilyusedtohedgeagainsttheriskofacontingentloss.Insuranceisdefinedastheequitabletransferoftheriskofaloss,fromoneentitytoanother,inexchangeforapremium,andcanbethoughtofasaguaranteedsmalllosstopreventalarge,possiblydevastatingloss.Financialmathematicsisamainbranchofappliedmathematicsconcernedwiththefinancialmarkets.Financialmathematicsisthestudyoffinancialdatawiththetoolsofmathematics,mainlystatistics.Suchdatacanbemovementsofsecurities—stocksandbondsetc.—andtheirrelations.Anotherlargesubfieldisinsurancemathematics.QuantitativeBehavioralFinanceisanewdisciplinethatusesmathematicalandstatisticalmethodologytounderstandbehavioralbiasesinconjunctionwithvaluation.Chapter2InternetFinance網(wǎng)絡(luò)金融

LearningObjectivesAfterstudythischapter,youshouldbeableto:Understandwhattheinternetfinanceis.Knowhowmanytypesoftheinternetfinance.KnowsomethingabouttheriskofinternetfinanceUnderstandtheP2PUnderstandthecrowedfunding.

Overview

Internetfinanceisdefinedas“Theprovisionoffinancialservicesandmarketsusingelectroniccommunication,computationandinternetwork”.

Overview

Thedevelopmentsofinternetfinancecanbedividedintotwobroadareas.Thefirstistheimpactonbankingandfinancialservices.Theyarguethattheadventoftheinternetandotherelectroniccommunicationmeanshasfundamentallyalteredmanyaspectsofthebankingindustry.Manyoftheservicestraditionallyprovidedbybanksarebeingprovidedbyotherentities.OnlineBanking

Onlinebanking,alsoknownasinternetbanking,e-bankingorvirtualbanking,isanelectronicpaymentsystemthatenablescustomersofabankorotherfinancialinstitutiontoconductarangeoffinancialtransactionsthroughthefinancialinstitution'swebsite.OnlineBanking

Theonlinebankingsystemwilltypicallyconnecttoorbepartofthecorebankingsystemoperatedbyabankandisincontrasttobranchbankingwhichwasthetraditionalwaycustomersaccessedbankingservices.Toaccessafinancialinstitution'sonlinebankingfacility,acustomerwithinternetaccesswillneedtoregisterwiththeinstitutionfortheservice,andsetupapasswordandothercredentialsforcustomerverification.

OnlineBanking

Thecredentialforonlinebankingisnormallynotthesameasfortelephoneormobilebanking.Financialinstitutionsnowroutinelyallocatecustomersnumbers,whetherornotcustomershaveindicatedanintentiontoaccesstheironlinebankingfacility.Features

Onlinebankingfacilitiestypicallyhavemanyfeaturesandcapabilitiesincommon,butalsohavesomethatareapplicationspecific.Thecommonfeaturesfallbroadlyintoseveralcategories:Abankcustomercanperformnon-transactionaltasksthroughonlinebanking,including：Viewingaccountbalances.Viewingrecenttransactions.Downloadingbankstatements,forexampleinPDFformat.Viewingimagesofpaidcheques.Orderingchequebooks.Downloadperiodicaccountstatements.DownloadingapplicationsforM-banking,E-bankingetc.Features

Bankcustomerscantransactbankingtasksthroughonlinebanking,including:Fundstransfersbetweenthecustomer'slinkedaccounts.Payingthirdparties,includingbillpayments(see,e.g.,BPAY)andthirdpartyfundtransfers.Investmentpurchaseorsale.Loanapplicationsandtransactions,suchasrepaymentsofenrollments.Creditcardapplications.Registerutilitybillersandmakebillpayments.Financialinstitutionadministration.Managementofmultipleusershavingvaryinglevelsofauthority.Transactionapprovalprocess.Features

Somefinancialinstitutionsofferspecialinternetbankingservices,forexample:Personalfinancialmanagementsupport,suchasimportingdataintopersonalaccountingsoftware.Someonlinebankingplatformssupportaccountaggregationtoallowthecustomerstomonitoralloftheiraccountsinoneplacewhethertheyarewiththeirmainbankorwithotherinstitutions.Advantages

Therearesomeadvantagesonusinge-bankingbothforbanksandcustomers:PermanentaccesstothebankLowertransactioncosts/generalcostreductionsAccessanywhereusingmobileorcomputerLesstimeconsumingVerysafeandsecuremethodHelpstotransferthemoneyimmediatelyandaccuratelyEasytouseSecurityTherearefivesecuritytokendevicesforonlinebanking.Securityofacustomer'sfinancialinformationisveryimportant,withoutwhichonlinebankingcouldnotoperate.Similarlythereputationalriskstothebanksthemselvesareimportant.Financialinstitutionshavesetupvarioussecurityprocessestoreducetheriskofunauthorizedonlineaccesstoacustomer'srecords,butthereisnoconsistencytothevariousapproachesadopted.SecurityTheuseofasecurewebsitehasbeenalmostuniversallyembraced.Thoughsinglepasswordauthenticationisstillinuse,itbyitselfisnotconsideredsecureenoughforonlinebankinginsomecountries.Basicallytherearetwodifferentsecuritymethodsinuseforonlinebanking:ThePIN/TANsystemwherethePINrepresentsapassword,usedfortheloginandTANsrepresentingone-timepasswordstoauthenticatetransactions.SecurityTANscanbedistributedindifferentways,themostpopularoneistosendalistofTANstotheonlinebankinguserbypostalletter.AnotherwayofusingTANsistogeneratethembyneedusingasecuritytoken.ThesetokengeneratedTANsdependonthetimeandauniquesecret,storedinthesecuritytoken(two-factorauthenticationor2FA).SecurityMoreadvancedTANgeneratorsalsoincludethetransactiondataintotheTANgenerationprocessafterdisplayingitontheirownscreentoallowtheusertodiscoverman-in-the-middleattackscarriedoutbyTrojanstryingtosecretlymanipulatethetransactiondatainthebackgroundofthePC.SecurityAnotherwaytoprovideTANstoanonlinebankinguseristosendtheTANofthecurrentbanktransactiontotheuser's(GSM)mobilephoneviaSMS.TheSMStextusuallyquotesthetransactionamountanddetails,theTANisonlyvalidforashortperiodoftime.EspeciallyinGermany,AustriaandtheNetherlandsmanybankshaveadoptedthis"SMSTAN"service.UsuallyonlinebankingwithPIN/TANisdoneviaawebbrowserusingSSLsecuredconnections,sothatthereisnoadditionalencryptionneeded.AttacksAttacksononlinebankingusedtodayarebasedondeceivingtheusertosteallogindataandvalidTANs.Twowellknownexamplesforthoseattacksarephishingandpharming.Cross-sitescriptingandkeylogger/Trojanhorsescanalsobeusedtosteallogininformation.Amethodtoattacksignaturebasedonlinebankingmethodsistomanipulatetheusedsoftwareinaway,thatcorrecttransactionsareshownonthescreenandfakedtransactionsaresignedinthebackground.AttacksAnotherkindofattackistheso-calledman-in-the-browserattack,avariationoftheman-in-the-middleattackwhereaTrojanhorsepermitsaremoteattackertosecretlymodifythedestinationaccountnumberandalsotheamountinthewebbrowser.CountermeasuresThereexistseveralcountermeasureswhichtrytoavoidattacks.Digitalcertificatesareusedagainstphishingandpharming,insignaturebasedonlinebankingvariants(HBCI/FinTS)theuseof"Secoder"cardreadersisameasurementtouncoversoftwaresidemanipulationsofthetransactiondata.ToprotecttheirsystemsagainstTrojanhorses,usersshouldusevirusscannersandbecarefulwithdownloadedsoftwareore-mailattachments.PeertoPeerLendingPeer-to-peerlending,alsoabbreviatedasP2Plending,isthepracticeoflendingmoneytoindividualsorbusinessesthroughonlineservicesthatmatchlenderswithborrowers.Sincepeer-to-peerlendingcompaniesofferingtheseservicesgenerallyoperateonline,theycanrunwithloweroverheadandprovidetheservicemorecheaplythantraditionalfinancialinstitutions.PeertoPeerLendingAsaresult,lenderscanearnhigherreturnscomparedtosavingsandinvestmentproductsofferedbybanks,whileborrowerscanborrowmoneyatlowerinterestrates,evenaftertheP2Plendingcompanyhastakenafeeforprovidingthematch-makingplatformandcreditcheckingtheborrower.Thereistheriskoftheborrowerdefaultingontheloanstakenoutfrompeer-lendingwebsites.PeertoPeerLendingP2Plendingalsoknownascrowdlending,manypeer-to-peerloansareunsecuredpersonalloans,thoughsomeofthelargestamountsarelenttobusinesses.Securedloansaresometimesofferedbyusingluxuryassetssuchasjewelry,watches,vintagecars,fineart,buildings,aircraftandotherbusinessassetsascollateral.Theyaremadetoanindividual,companyorcharity.Otherformsofpeer-to-peerlendingincludestudentloans,commercialandrealestateloans,paydayloans,aswellassecuredbusinessloans,leasing,andfactoring.PeertoPeerLendingTheinterestratescanbesetbylenderswhocompeteforthelowestrateonthereverseauctionmodelorfixedbytheintermediarycompanyonthebasisofananalysisoftheborrower'scredit.Thelender'sinvestmentintheloanisnotnormallyprotectedbyanygovernmentguarantee.Onsomeservices,lendersmitigatetheriskofbaddebtbychoosingwhichborrowerstolendto,andmitigatetotalriskbydiversifyingtheirinvestmentsamongdifferentborrowers.PeertoPeerLendingOthermodelsinvolvetheP2Plendingcompanymaintainingaseparate,ringfencedfund,suchasRateSetter'sProvisionFund,whichpayslendersbackintheeventtheborrowerdefaults,butthevalueofsuchprovisionfundsforlendersissubjecttodebate.CharacteristicsPeer-to-peerlendingdoesnotfitcleanlyintoanyofthethreetraditionaltypesoffinancialinstitutions—deposittakers,investors,insurers—andissometimescategorizedasanalternativefinancialservice.Typicalcharacteristicsofpeer-to-peerlendingare:itissometimesconductedforprofit;nonecessarycommonbondorpriorrelationshipbetweenlendersandborrowers;Characteristicsintermediationbyapeer-to-peerlendingcompany;transactionstakeplaceonline;lendersmayoftenchoosewhichborrowerstoinvestin,iftheP2Pplatformoffersthatfacility;theloanscanbeunsecuredorsecuredandarenotnormallyprotectedbygovernmentinsurancebuttherecanbeprotectionfundslikethoseofferedbyZopaandRateSetterintheUK;loansaresecuritiesthatcanbetransferredtoothers,eitherfordebtcollectionorprofit,thoughnotallP2Pplatformsprovidetransferfacilitiesorfreepricingchoicesandcostscanbeveryhigh,tensofpercentoftheamountsold,ornil.CharacteristicsMostpeer-to-peerintermediariesprovidethefollowingservices:onlineinvestmentplatformtoenableborrowerstoattractlendersandinvestorstoidentifyandpurchaseloansthatmeettheirinvestmentcriteria.developmentofcreditmodelsforloanapprovalsandpricing.verifyingborroweridentity,bankaccount,employmentandincome.performingborrowercreditchecksandfilteringouttheunqualifiedborrowers.processingpaymentsfromborrowersandforwardingthosepaymentstothelenderswhoinvestedintheloan.servicingloans,providingcustomerservicetoborrowersandattemptingtocollectpaymentsfromborrowerswhoaredelinquentorindefault.legalcomplianceandreporting.findingnewlendersandborrowers(marketing).LegalregulationInmanycountries,solicitinginvestmentsfromthegeneralpublicisconsideredillegal.Crowdsourcingarrangementsinwhichpeopleareaskedtocontributemoneyinexchangeforpotentialprofitsbasedontheworkofothersareconsideredtobesecurities.Advantagesandcriticism

InterestratesOneofthemainadvantagesofperson-to-personlendingforborrowerscansometimesbebetterratesthantraditionalbankratescanoffer.Theadvantagesforlenderscanbehigherreturnsthanobtainablefromasavingsaccountorotherinvestments,butsubjecttoriskofloss,unlikeasavingsaccount.

Interestratesandthemethodologyforcalculatingthoseratesvariesamongpeer-to-peerlendingplatforms.Theinterestratesmayalsohavealowervolatilitythanotherinvestmenttypes.

Advantagesandcriticism

CreditriskPeer-to-peerlendingalsoattractsborrowerswho,becauseoftheircreditstatusorthelackthereof,areunqualifiedfortraditionalbankloans.Becausepastbehaviorisfrequentlyindicativeoffutureperformanceandlowcreditscorescorrelatewithhighlikelihoodofdefault,peer-to-peerintermediarieshavestartedtodeclinealargenumberofapplicantsandchargehigherinterestratestoriskierborrowersthatareapproved.OnlinePayment

（Thirdpartypayment）OnlinepaymentiswhenthecustomerorbuyermakeshispaymenttransactionsforthegoodsorservicespurchasingwiththeuseoftheInternet.“Thistypeofpaymentlowersthecostsforbusinessesasthemorepaymentsmadeelectronicallythelesstheyspendforpaperandpostage.OnlinePayment

（Thirdpartypayment）Also,ithelpsonimprovingcustomerretentionasheismorelikelytoreturntothesamee-commercesitewherehisorherinformationhasalreadybeenenteredandstored.”Withonlinepayment,itisnotnecessaryforthepayertobeinalongqueueaspaymentismadeinjustaclickofamouse.OnlinePayment

（Thirdpartypayment）OnlinePaymentMethodsForthepurchasesdoneonlinemostlikelyhewillalsomakehispaymentsonline.Youcanfindsomedifferentmethodsonmakingonlinepayments.VirtualCreditCards.Thisvirtualcreditcardisaninnovationinonlinecreditcards.Creditcardissuerprovidesaspecialnumberthatcanbeusedinplaceoftheregularcreditcardnumbertomakeonlinepurchases.OnlinePayment

（Thirdpartypayment）SmartCards.Thiscardlookslikeanyplasticpaymentcardbutithasamicrochipembeddedonitsface.Thiscanholdmoreinformationthanordinarycreditcardswithmagneticstrips.e-Checks.Ane-Checkisanelectronicversionorrepresentationofapapercheck.Itcontainsthesameinformationasapapercheckandbasedonthesamelegalframework.Itworksthesameasthepapercheckhowevertheyarefaster,cheaperandmoresecure.OnlinePayment

（Thirdpartypayment）DigitalCash.Digitalcashisanexampleofadigitalcurrency,whereitallowspeoplewhodonothavecreditcardtoshoponline.Itissimilartoatraditionalbankaccount:consumersdepositmoneyintotheirdigitalcashaccountstobeusedinthepurchaseonline.Thisisoftenusedwithothertechnologysuchasdigitalwallets.e-Wallets.Ane-walletisasoftwarecomponentthatauserdownloadstotheirdesktopandinwhichtheuserstorescreditcardnumbersandotherpersonalinformation.Whenausershopsatamerchantwhoacceptse-wallet,theuserclicksthee-walletandtheformsareautomaticallyfilledinwithallthenecessaryinformationinjustoneclick.SecurityinOnlinePayment

Securityisvitalwhendoingbusinessonlineoroffline.Ifwecomparethetraditionaltransactionusingacreditcard,whatthemerchantneedisthesignatureofthecardholderandsometimesthephotoonthecreditcardisalsousetoverifytheidentityofthecustomer.Inthevirtualworld,informationneededarethecreditcardnumber,theverificationcodeandthebillingaddresstoverifytheidentityofthecardholderandfraudulenttransactionsarealwaysaround.CommonchallengesthatthemerchantshavetofaceareInternetfraud,productreturns,non-deliveryclaims,disputesthatleadstochargebacksandetc.OnlinePaymentinChinaandtheworld

Therearesomeonlinepaymentenablerscommonlyusedbymerchantstoenabletheacceptanceofpaymentsonlineparticularlyfortheonlinecreditcardtransactions.TherearealotmoreofthembutIwillonlydiscussafewofthem.Thesecompaniesestablishedbusinessrelationshipswiththefinancialinstitutionstoacceptonlinecreditcardpaymentfortheirmerchantclients.OnlinePaymentinChinaandtheworld

1.PayPal.“ArisingfromthepopularityofeBayonlineauctions,PayPalhasquicklybecomedominantinonlinetransactionprocessing”accordingtoPan-WesternE-BusinessTeam.ManypeoplestillthinkofPayPalprimarilyastheservicetousetopayforitemstheybuyoneBay.OnlinePaymentinChinaandtheworld

InChina,Alipayisleadingindependentthird-partyonlinepaymentplatform.AlipayisanaffiliateofAlibabaGroup,aleadinginternationale-commerceserviceprovider;Alipayisdedicatedtowardprovidingitsmembersandmerchantswitha"simple,secureandspeedy"onlinepaymentsolution.Summary1.Internet

finance

as

a

new

financial

business

model

whereby

traditional

financial

institutions

and

internet

enterprises

use

internet

technology

together

with

information

and

communications

technology

to

provide

financing,

payment,

investment

and

information

intermediary

services,

including:

?

Third

party

payment

service.?

Online

lending,

that

is,

individual

online

peer-to-peer

(P2P)

lending.

?

Equity

crowdfunding.?

Online

fund

sales.

Summary2.Onlinebanking,alsoknownasinternetbanking,e-bankingorvirtualbanking,isanelectronicpaymentsystemthatenablescustomersofabankorotherfinancialinstitutiontoconductarangeoffinancialtransactionsthroughthefinancialinstitution'swebsite.Summary3.Peer-to-peerlending,alsoabbreviatedasP2Plending,isthepracticeoflendingmoneytoindividualsorbusinessesthroughonlineservicesthatmatchlenderswithborrowers.Sincepeer-to-peerlendingcompaniesofferingtheseservicesgenerallyoperateonline,theycanrunwithloweroverheadandprovidetheservicemorecheaplythantraditionalfinancialinstitutions.Summary4.OnlinepaymentiswhenthecustomerorbuyermakeshispaymenttransactionsforthegoodsorservicespurchasingwiththeuseoftheInternet.“Thistypeofpaymentlowersthecostsforbusinessesasthemorepaymentsmadeelectronicallythelesstheyspendforpaperandpostage.

Chapter3CareersinCommercialBanking商業(yè)銀行職業(yè)分類

LearningObjectivesAfterreadingthischapteryouwillknow:Whatjobsacommercialbankingoffers.Whatskillsyoushouldhave.Whatinterpersonalskillsyoushouldhave.Whatamortgagebankeris.Workhoursofcommercialbankinghave.Whatfuturescommercialbankingwillbe.Theroadsleadintocommercialbanking.Whatyouhavetokeepinmindwhenyoutakeyourinterview.

Overview

Jobsinbankingcanbeexcitingandofferexcellentopportunitiestolearnaboutbusinessinteractwithpeopleandbuildupaclientele.Today'scommercialbanksaremorediversethanever.You'llfindatremendousrangeofopportunitiesincommercialbanking,startingatthebranchlevelwhereyoumightstartoutasatellertoawidevarietyofotherservicessuchasleasing,creditcardbanking,internationalfinanceandtradecredit.

Overview

Commercialbanksareinthebusinessofprovidingbankingservicestoindividuals,smallbusinessesandlargeorganizations.Whilethebankingsectorhasbeenconsolidating,itisworthnotingthatfarmorepeopleareemployedinthecommercialbankingsectorthananyotherpartofthefinancialservicesindustry.BroadBusinessUnderstandingandPeopleSkillsNeeded

Tobegoodinbankingyouneedabroadunderstandingofbusinessbecauseyourjobwillmostlikelyinvolveinteractingwithbusinesses.Peopleskillsareessentialbecauseyouwillbehelpingpeoplegettheloansandinvestmentsthattheywant.BroadBusines