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Abstract
Payment System forms essential and critical infrastructure
in overall economic performance of any nation. Efficient
paymentsystem acts as a lubricant that keeps the economic
engine running smoothly. Over the years payment systems
have evolved into highly automated, rules based engines
with extremely high levels of straight through processing
capabilities.
This functional area is closely linked to cash management
function offered by an Investment bank and as such represents
multiple concepts. In this paper we intend to give an
introduction to wholesale payment systems, covering
such areas as types of payments systems, players involved,
settlement procedures and typical process flows. The
paper also presents a concise view of the payments systems
across key economic regions of North America, Euro and
Japan.
We intend to cover details of payment systems at investment
banks, role of SWIFT and technologies involved and vendor
offerings in the sequel.
Authors
Jigisha Biswal
Mandar Joshi
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