In recent years, the delivery of financial services has changed consistent with techlogical advances that have occurred. On-line banking, on-line trading and brokerage services, and capital markets are available and utilized in varying degrees in the industrialized nations of the world. Beyond the availability of services on-line, E-Finance is redefining the cost and competitive structure of financial services. This convergence of techlogy and financial services provides opportunities for emerging markets to leapfrog in the development and delivery of financial services. This paper identifies issues arising from the spread of E-Finance including the readiness of telecommunications infrastructure, public policy and regulatory requirements, and financial sector development approaches. It hopes to stimulate dialogue on the role E-Finance can play in supporting the World Bank's overall mission.
Daniela Klingebiel, Stijn Claessens, Thomas Glaessner