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PREFACE Hello! This is the first time to say 'Hello' to you. There is a dense
competition in finance sector. Efforts are going on to maintain profitability
and to reach the aims. We decided to attend to this world of finance to try to
make contribution to the knowledge that steadily accumulating. We are going to
try to make studies on two main subjects in each issue which will be published
bimonthly. We invite you to criticise on us without hesitating. We dreamed then started. Ahmet Hamamcıoğlu Editor E-TRADE E-trade is the name of the development that to leave its mark on the
whole business world. Briefly it means that e-trade is to buy and sell some items on computers via the internet. According to the statistics cost of one person making any transaction
in a bank is $ 1.07, if on the ATM it drops to $ 0.27, finally to 1 cent on the
internet. Specialists maintain that banks should to come together around to
solve some problems. The main problem is that banks are not giving authorisation
to the other banks' cards. In spite of this problem in Turkey you may buy some
things on the internet if you reach to www.amazon.com..
Banks should take the responsibility of e-trade development in Turkey. İş
Bankası is the leader of e-trade with some services regarding to sell t-bonds,
time deposits, investment funds and every kind of shares, in addition to them
some books are being sold as a cultural activity of the Bank. In 1997, Science and Technology Supreme Board decided to assign a
study group to determine a strategy. Co-ordination duty was given to the
Undersecretariat of Foreign Trade, as for secretarial duty was given to TÜBİTAK
- Scientific and Technical Research Association of Turkey. In line with the a.m.
decree the Electronic Trade Co-ordination Board was established in 1998. 38
institutes affiliated to this Board. E-trade brings some advantages to consumers: retailers are off-line,
there's no limitation on shopping time, you may order your wearing according to
the size you've given and then the orders you've given will be on the door. ARE
WE READY FOR 2000? There are less than 300 days to the end of the first millennium.
Societies from different parts of the world are being prepared to meet the
second. But, on the other side of the medallion there's a big problem known as
Y2K: millennium bug. Briefly it means that part of the computers will not
recognise the year 2000 because they have 2 digits date info instead for digits. It'll effect telecommunication, air transport, electricity and water
usages, banking transactions and health services. If we give attention to what Mr Kevin Croix saying we see three
effects and riscs of year 2000 problem: -
Risks coming from internal systems of the company. -
Risks standing outside of the company. -
May be the most important one: risks stemming from behaviours that could
not be estimated. When the that day comes, if the precautions are not taken, then wrong
or missing data may cause very serious problems. When all probabilities were taken into consideration and then the
problem was accepted as a whole with its all parts, the year 2000 problem will
be a risk management problem except that a solely computer technology. According to the calculations of specialists only the cost of solving
the problem will be around $ 600 billion. A serious studies can be followed up from below internet site:
Companies are expecting cash insufficiency in financial market
because of problems to be occurred in banking systems at the end of this year,
so they are taking some precautions changing their positions supposing that the
interests may rise and the bonds go down. In our country major banks announced that they had taken precautions.
Akbank, Vakıfbank, Garanti Bankası, Esbank, Turkishbank and Şekerbank sent
brief information to our magazine about their activities regarding the year 2000
problem. A
BRIEF STORY: HANDELSBANKEN Swenska Handelsbanken was founded on May 12, 1871. The bank began in
modest way with only 12 employees. The first branch was opened in Stockholm in
1874. It was very successful at the beginning but towards the end of the 1870's
a general economic recession effected the bank. When the economy picked up again
in 1873 stagnation ended. By the beginning of this century the bank had attained to the size of
the big banks of the country. Via series of mergers Stockholms Handelsbanken
became a major bank covering the whole of Sweden. Bank acquisitions were started in 1914 and then ended in 1996. Today
Swenska Handelsbanken , usually known a Handelsbanken, currently has some 500
branches and six subsidiaries in Sweden. The bank is represented in some 30
locations in the Nordic countries and in almost 20 locations outside the Nordic
countries. The number of shareholders is just over 77,000. SMART
CARDS What
is a smart card? A smart card is the latest addition to the world of information
technology. It has an electronic microchip embedded in. There are two types of
smart cards: 1.
Contact smart card: It must be inserted into a smart card reader. It has
a small gold plate on the front side instead of a magnetic stripe on the back. 2.
Contactless smart card: It is passed near an antenna to carry out a
transaction. It has also an embedded microchip with antenna. Contactless cards
are the ideal solution for mass-transit or toll collection activities where
transactions must be processed quickly. Standards of the card is determined by ISO 7810 and 7816. Why
is a smart card secure? Access to the information contained in a smart card is controlled in
two ways: ·
Who can access the information? Everybody
: Some smart cards require no password so anyone
holding the card can have access.
Cardholder only
: Some smart cards require password so a PIN (Personal
Identification Number) is needed.
Third part only
: Some smart cards can only be accessed by the part who
used it. ·
How can the information be accessed? Information
on a smart card can be divided into several sections: -
read only -
added only -
updated only -
no access available When
passwords are not enough Information on a smart card is may be transmitted by radio or
telephone. In that case additional protection is necessary. One form of protection is ciphering: translating the information into
some unknown foreign languge. Stored information can be transmitted without
compromising confidentally. Smart cards can cipher billions and billions of
foreign languages. Smart
cards' history
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