Professional Documents
Culture Documents
Finance
Group 2: E-commerce
At Stephanie’s House
At Charemie’s Office
I. FINANCE
-is a field that deals with the allocation of assets
and liabilities over time under conditions of certainty
and uncertainty. Finance can also be defined as the
science of money management.
The science that describes the management, creation
and study of money, banking, credit, investments,
assets and liabilities.
Advantages Of Financing
• Provide a measure of
security for your funds.
• Step 5:
Ask important questions before you finalize your
account. Now is an excellent time to ask for clarification on
any issues regarding your account that you don't
understand.
• Step 6: Supply the necessary information to create your
account.
This depends on the exact bank you're opening an account with.
-Proof that you are who you say you are.
-Proof of address.
-Proof you are a registered citizen.
• Flipping a Coin
These coins, however, needed to be kept. Ancient homes
didn’t have steel safe so wealthy people held accounts at their
temples where numerous people like priest or temple workers
occupied the temples as a sense of adding some
security.
• The First Bank
The Romans, took banking out of the temples and formalized it
within distinct buildings. During these time, most legitimate
commerce and almost all governmental spending, involved the use
of an institutional bank. Julius Caesar, in one of the edicts changing
Roman law after his takeover, gives the first example of allowing
bankers to confiscate land in lieu of loan payments.
• Visa Royal
Eventually, the various monarchs that reigned over Europe noted
the strengths of banking institutions. As banks existed by the grace
and occasionally explicit contracts, the royal powers began to take
loans to make up for hard times at the royal treasury. This easy
finance led kings into unnecessary extravagances – costly wars and
arms race with neighboring kingdoms that lead to crushing dept
• Morgan and Monopoly
J.P. Morgan and Company emerged at the head of the merchant
banks during late 1880s. Although the dawn of the 1990s had well-
established merchant banks, it was difficult for the average
American to get loans from them. These banks didn’t advertise and
they rarely extended credit to the “common” people.
MONEY CREATION
CORE DEPOSITS
* Checking
* Saving
Credit Card
Although using a credit card is similar to using a debit card, with a credit card
money isn’t immediately deducted from your bank account. This is because –
instead of spending your own money – credit cards let you spend money the
bank has lent you, up to a certain limit every month. The bank then sends you
a bill for the total amount of everything you’ve bought once a month. You
don’t have to pay it back all at once, but you pay extra interest on any
money you haven’t paid back when it’s added to the next month’s total.
Back at Stephanie’s House
V. Home Banking
The practice of conducting banking transactions
from home rather than at branch locations. Home
banking generally refers to either banking over the
telephone or on the internet. The first experiments
with internet banking started in the early 1980s, but
it did not become popular until the mid 1990s when
home internet access was widespread. Today, a
variety of internet banks exist which maintain few, if
any, physical branches.
The increasing popularity of home banking has fundamentally
changed the character of the banking industry. Many people are
able to arrange their affairs so that they seldom have need of a
physical branch.
INTERNET BANKING OR E-BANKING
Term used in making bank transactions through the web
the bank is operating.
Online-only banks have profited from this shift in the
industry. The absence of brick and mortar locations allows
online banks to offer favorable interest rates, lower fees and
many other incentives for those willing to bank online.
MOBILE BANKING
The term used in making banking transactions through
different mobile devices such as tablet or smartphones.