Manufacturing the ERMA banking system: lessons from history

McKenney, James L.; Fisher, Arthur

doi:10.1109/85.238388

Cited by 11 publications

(2 citation statements)

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“…Machine-readable checks were developed in the mid-1950s (McKenney andFisher, 1993) and by the 1960s, the arrival of a cashless and checkless society had moved from science fiction to technical reality (Batiz-Lazo et al, 2016). Most industry experts predicted that the future of payment would involve identification cards resembling modern credit cards.…”

Section: Datafied Payment and The Threat To Privacymentioning

confidence: 99%

Plastic surveillance: Payment cards and the history of transactional data, 1888 to present

Lauer

2020

Big Data & Society

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Modern payment cards encompass a bewildering array of consumer technologies, from credit and debit cards to storedvalue and loyalty cards. But what unites all of these financial media is their connection to recordkeeping systems. Each swipe sends data hurtling through invisible infrastructures to verify accounts, record purchase details, exchange funds, and update balances. With payment cards, banks and merchants have been able to amass vast archives of transactional data. This information is a valuable asset in itself. It can be used for in-house data analytics programs or sold as marketing intelligence to third parties. This research examines the development of payment cards in the United States from the late 19th century to present, drawing attention to their fundamental relationship to identification, recordkeeping, and data mining. The history of payment cards, I argue, is not just a history of financial innovation and computing; it is also a history of Big Data and consumer surveillance. This history, moreover, provides insight into the growth of transactional data and the datafication of money in the digital economy.

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Section: Datafied Payment and The Threat To Privacymentioning

confidence: 99%

Plastic surveillance: Payment cards and the history of transactional data, 1888 to present

Lauer

2020

Big Data & Society

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“…There is a growing body of systematic studies discussing the impact and use of information technology in business and, particularly, financial institutions in Western Europe and North America from an historical perspective. There are several strands to these contributions, dating from the early introduction of mechanical contraptions and computers (Berkeley, 1949;Booth, 2001;Campbell-Kelly, 1989;Campbell-Kelly, 1992, 1998Ellis, 1931;Osborn, 1954;Rouse, 1930;Wardley, 2000) to more recent efforts which include, among others, conceptual discussions (Bátiz-Lazo and Wood, 2002;Coombs et al, 1992;Lamoreaux et al, 2003;Langlois, 2003), the deployment of specific devices (Bátiz-Lazo, 2009;McKenney and Fisher, 1993;McKenney et al, 1997) and applications (Haigh, 2001(Haigh, , 2006Pardo-Guerra, 2011;Stearns, 2011), single company and industry case studies (Bátiz-Lazo and Wardley, 2007;Billings and Booth, 2011;Booth, 2001Booth, , 2007Martin, 2012;Wardley, 2000;Wood and Bátiz-Lazo, 1997) as well as the nature of organizational groups (Billings, 2007;Maixé-Altés, 2014;Scott and Zachariadis, 2014) and specific practices (Poon, 2011).…”

Section: Introductionmentioning

confidence: 99%

Between Novelty and Fashion: Risk Management and the Adoption of Computers in Retail Banking

Bátiz‐Lazo

2017

Decision Taking, Confidence and Risk Management in Banks From Early Modernity to the 20th Century

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This chapter explores developments in researching the adoption of applications of computer technology by retail deposit-accepting financial institutions. Contributions to date suggest an understanding of both technological and business decisions. This is a research agenda informed by developments both in the history of computing and in business and economic history because the analysis of computer applications in business should consider not only how decisions came about but also the expectations of decision makers and the context and stakeholders that helped to shape business decisions. This is a view which aligns with that of Wadhwani and Jones' (2014) "constitutive historicism" or the investigation of how economic actors' perceptions of their own places in historical time shape their strategies.

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Banking on change: information systems and technologies in UK high street banking, 1919–1969

Bátiz‐Lazo¹,

Wardley²

2007

Financial History Review

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This article looks at the experience of management of technological innovation and mechanisation by British financial institutions. It highlights the indigenous assessment of technology, reflecting on local and American influences in two types of business organisations within the financial sector to demonstrate the nature of responses and the timing of the introduction of new methods and machinery. The adoption of Information Technology (IT) and computer applications in particular play a crucial role, though one that is intimately connected with a strategic expansion of corporate business, this growth being reflected in terms of size of business and also territorial expansion, as each of the institutions considered here constructed a national network of retail branch outlets. Discussion of established literature for the high street banks is combined with archivally informed analysis of similar, but previously undocumented, developments on the part of building societies. By taking a long-term view of these developments in the twentieth century, and by comparing the experiences of two different sets of institutions, the article highlights the strategic factors that influenced the decisions taken by senior managers in their transformation of British retail financial services.

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Manufacturing the ERMA banking system: lessons from history

Cited by 11 publications

References 0 publications

Plastic surveillance: Payment cards and the history of transactional data, 1888 to present

Plastic surveillance: Payment cards and the history of transactional data, 1888 to present

Between Novelty and Fashion: Risk Management and the Adoption of Computers in Retail Banking

Banking on change: information systems and technologies in UK high street banking, 1919–1969

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