Moore Money Banks Moore Money Banks and and E-CommerceE-Commerce

what we can do for youwhat we can do for you

Ethics TrainingEthics Training

Customers need a bank they can trustCustomers need a bank they can trust

Ethical bank = loyal customersEthical bank = loyal customers Loyal customers = moore money!Loyal customers = moore money!

E-Banking requires uncommon ethicsE-Banking requires uncommon ethics

The International CharterThe International Charter

An internationally accepted accrediting An internationally accepted accrediting organizationorganization

Assigns certifications to businesses Assigns certifications to businesses based on ethical standards that the based on ethical standards that the business must live up tobusiness must live up to A business must apply for its certifications A business must apply for its certifications

with ICharter and undergo comprehensive with ICharter and undergo comprehensive analysisanalysis

The Certifications you will The Certifications you will needneed

IC9200IC9200 DHP3003DHP3003 EG9001EG9001 EAS-405EAS-405

All must be obtained for a respected business to All must be obtained for a respected business to operate electronically operate electronically

The IC9200The IC9200

Initial certification that complies with the Initial certification that complies with the standards of the DHP3003, EG9001 and standards of the DHP3003, EG9001 and the EAS-405. the EAS-405.

Quick way for users to verify a businesses Quick way for users to verify a businesses online trustonline trust

TheThe DHP3003, Data Handling Protocol 3003DHP3003, Data Handling Protocol 3003

Verifies:Verifies:1.1. A Company will notify a user whenever it collects personally identifiable data.A Company will notify a user whenever it collects personally identifiable data.

2.2. Have a comprehensive online privacy policy to notify the customer of data collection and use.Have a comprehensive online privacy policy to notify the customer of data collection and use.

3. Recognize that personally identifiable and financial data is more critical to the user than site statistics and 3. Recognize that personally identifiable and financial data is more critical to the user than site statistics and therefore kept in a more secure area.therefore kept in a more secure area.

4. Informing users of the purpose of the information collected.4. Informing users of the purpose of the information collected.

5. Inform users whether or not information will be shared with other companies and organizations.5. Inform users whether or not information will be shared with other companies and organizations.

6. Notifying the user of the use of persistent identifiers (Web Cookies) placed on their system by the Company web 6. Notifying the user of the use of persistent identifiers (Web Cookies) placed on their system by the Company web site.site.

7. A Company must not send unsolicited communications resulting from providing information on their site.7. A Company must not send unsolicited communications resulting from providing information on their site.

8. A Company shall not collect personally identifiable data from any persons under the age of 13.8. A Company shall not collect personally identifiable data from any persons under the age of 13.

9. A Company must give the option to the user to opt out of any mailing list that the user had joined. 9. A Company must give the option to the user to opt out of any mailing list that the user had joined.

10. A Company must make clear whether the user has access to the personally identifiable information that has been 10. A Company must make clear whether the user has access to the personally identifiable information that has been gathered to review and correct if needed.gathered to review and correct if needed.

11. A Company shall delete/destroy personally identifiable data about a user upon formal request by the user to do so. 11. A Company shall delete/destroy personally identifiable data about a user upon formal request by the user to do so.

12. Upon the termination of the company all financial data held by the company that will be of no further use to the 12. Upon the termination of the company all financial data held by the company that will be of no further use to the relevant authorities or liquidators must be comprehensively destroyed.relevant authorities or liquidators must be comprehensively destroyed.

http://www.icharter.org/standards/dhp3003/

Verifies:Verifies:1. A Company will not trade or encourage any company, organization or company which fails to respect the basic 1. A Company will not trade or encourage any company, organization or company which fails to respect the basic constructs of Human Rights, as defined by the Universal Declaration of Human Rights.constructs of Human Rights, as defined by the Universal Declaration of Human Rights.

2. Hold paramount the safety, health and welfare of the public in the performance of their professional duties. 2. Hold paramount the safety, health and welfare of the public in the performance of their professional duties.

3. Perform services only in areas of their competence. 3. Perform services only in areas of their competence.

4. Issue public statements only in an objective and truthful manner. 4. Issue public statements only in an objective and truthful manner.

5. A Company will not knowingly carry out violation of intellectual property rights.5. A Company will not knowingly carry out violation of intellectual property rights.

6. A Company will not carry out aggressive e-marketing campaigns.6. A Company will not carry out aggressive e-marketing campaigns.

7. A Company will not use harmfulness imagery, including pornography, to promote 7. A Company will not use harmfulness imagery, including pornography, to promote their goods or servicestheir goods or services

8. A Company shall act in professional matters for each client as faithful agents or trustees. 8. A Company shall act in professional matters for each client as faithful agents or trustees.

9. A Company must promote greater consumer awareness of services and product's use and availability.9. A Company must promote greater consumer awareness of services and product's use and availability.

10. A Company shall encourage the staff members to operate to the highest standards, and acknowledge that, on 10. A Company shall encourage the staff members to operate to the highest standards, and acknowledge that, on occasions, some may fail to do so and have a willingness to address this.occasions, some may fail to do so and have a willingness to address this.

11. A Company shall have an induction programme for staff members which incorporates ethical standards and 11. A Company shall have an induction programme for staff members which incorporates ethical standards and seeks to integrate them into all aspects of induction.seeks to integrate them into all aspects of induction.

12. A Company shall provide provision of training and guidance for key partners, suppliers and service providers 12. A Company shall provide provision of training and guidance for key partners, suppliers and service providers to to build awareness of the Company's ethical ethos and practice. build awareness of the Company's ethical ethos and practice.

http://www.icharter.org/standards/dhp3003/

The EG9001, Ethical Governance 9001

The EAS-405, Ethical Advertising Standard 405

Assembly of 24 article code of Advertising Conduct

available in full at http://www.icharter.org/standards/eas405/

Covers the responsibility of a business to Decent, Honest, Truthful and Substantial advertising online and off

Article 1

All advertising should be legal, decent, honest and truthful.

Every advertisement should be prepared with a due sense of social responsibility and should conform to the principles of fair competition, as generally accepted in business.

No advertisement should be such as to impair public confidence in advertising.

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Banking SystemsBanking Systems

Importance of ImprovingImportance of Improving

Moore Money Bank Has a Fragile Moore Money Bank Has a Fragile System Due to:System Due to: Insufficient CapitalInsufficient Capital Limited Institutional CapacityLimited Institutional Capacity Ineffective Bank SupervisionIneffective Bank Supervision Misallocation of ResourcesMisallocation of Resources

Where to ImproveWhere to Improve

Overall More Attractive AppearanceOverall More Attractive Appearance Installation of Improved Electronic and Installation of Improved Electronic and

Mechanical SystemsMechanical Systems Secure high-speed computer networkSecure high-speed computer network Fast bill counters/verifiersFast bill counters/verifiers Installation of ATMInstallation of ATM Creation of a web siteCreation of a web site

Improve SecurityImprove Security Become FDIC InsuredBecome FDIC Insured

Electronic SystemsElectronic Systems

For The EmployeesFor The Employees New ComputersNew Computers

High-speed Computer NetworkHigh-speed Computer Network Improved User-Friendly Database For Account Improved User-Friendly Database For Account

InformationInformation ScannersScanners

ChecksChecks Signature CardsSignature Cards Loan DocumentsLoan Documents Any Archival DocumentsAny Archival Documents

Electronic SystemsElectronic Systems

For The CustomerFor The Customer ATM MachinesATM Machines

Faster than human tellersFaster than human tellers Off-hour serviceOff-hour service

Website For Online BankingWebsite For Online Banking Lookup for Electronic ArchiveLookup for Electronic Archive Pay BillsPay Bills View Account ActivityView Account Activity New Account CreationNew Account Creation Brokerage InformationBrokerage Information

Mechanical SystemsMechanical Systems

For The EmployeesFor The Employees Check EncodersCheck Encoders Currency CountersCurrency Counters Counterfeit VerifiersCounterfeit Verifiers

SecuritySecurity

Electronic Vault DoorsElectronic Vault Doors Use of High Security Fingering Print/Retina Use of High Security Fingering Print/Retina

Analysis to Open VaultAnalysis to Open Vault Vault Door Can Only Be Opened During Vault Door Can Only Be Opened During

Bank HoursBank Hours

Drive-up Window SystemsDrive-up Window Systems Teller Drawers With Dual Teller Drawers With Dual

Combination/Key LocksCombination/Key Locks

Why Become FDIC Why Become FDIC Insured?Insured?

FDIC Insured Banks Get More BusinessFDIC Insured Banks Get More Business Bankers Want to Know Their Investments Are Safe Bankers Want to Know Their Investments Are Safe

in Event of Bank Failurein Event of Bank Failure

Why Become FDIC Why Become FDIC Insured?Insured?

Modern FDIC InsuredModern FDIC InsuredVs. Moore Money BankVs. Moore Money Bank

0

10

20

30

40

50

60

70

80

90

2000 2001 2002 2003

M oore M oneyBank

FDIC

Effects of ImprovementsEffects of Improvements

More CustomersMore Customers More Business = More Money $$$More Business = More Money $$$

Faster/Easier TransactionsFaster/Easier Transactions ATM MachinesATM Machines Online BankingOnline Banking Improved Equipment Used By TellersImproved Equipment Used By Tellers

Higher SecurityHigher Security Safer Environment For Customers and EmployeesSafer Environment For Customers and Employees More Computer Supervision For Sensitive More Computer Supervision For Sensitive

Information and CurrencyInformation and Currency

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Pros and ConsPros and Cons

Why E-CommerceWhy E-Commerce

The world is “wired” together.The world is “wired” together. Almost everyone has access to the Almost everyone has access to the

internet nowadays.internet nowadays. More accessibility for people far and More accessibility for people far and

wide, and ease of making financial wide, and ease of making financial transactions from the comfort of ones transactions from the comfort of ones own PC.own PC.

A few statistics:A few statistics:

5% of unique visitors to sites ultimately 5% of unique visitors to sites ultimately become customers;become customers;

1.6% of visits result in purchases;1.6% of visits result in purchases; Portal sites directly drive less than 30% Portal sites directly drive less than 30%

of online retailing revenues;of online retailing revenues;(Global Electronic Commerce, Westland)(Global Electronic Commerce, Westland)

On-Line BankingOn-Line Banking

Many internet users do their banking Many internet users do their banking from home, due to ease of use.from home, due to ease of use.

Banking services such as ATMs, debit Banking services such as ATMs, debit cards, stored valued cards, and home cards, stored valued cards, and home banking via the PC are less expensive banking via the PC are less expensive than the traditional bricks and mortars than the traditional bricks and mortars bank.bank.

A few consA few cons

“ “Internet banking is viewed as vulnerable in several important Internet banking is viewed as vulnerable in several important areas, with issues related to security most important to both areas, with issues related to security most important to both customers and bankers. For sound reasons, the Internet was customers and bankers. For sound reasons, the Internet was perceived as an unsafe medium for valuable and sensitive perceived as an unsafe medium for valuable and sensitive information contained in business transactions.”information contained in business transactions.”

“ “Another important serious area of concern for Internet banking Another important serious area of concern for Internet banking has been the lack of organization and control over the internet has been the lack of organization and control over the internet itself. No one owns the internet; therefore no one controlled it and itself. No one owns the internet; therefore no one controlled it and ultimately, no one was responsible for making sure it does not fail ultimately, no one was responsible for making sure it does not fail or become congested.”or become congested.”

(Global Electronic Commerce, pg 96)(Global Electronic Commerce, pg 96)

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Questions?Questions?