[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-0-en-105":3,"doc-seo-426564-105":59,"doc-detail-426564-en":131},{"code":4,"msg":5,"data":6},0,"success",[7,13,18,23,28,33,38,43,48,51,55],{"id":8,"doc_module":4,"doc_module_name":9,"category_name":10,"show_sort_weight":11,"slug":12},1,"Document","Story & Novel",90,"story-novel",{"id":14,"doc_module":4,"doc_module_name":9,"category_name":15,"show_sort_weight":16,"slug":17},2,"Literature",80,"literature",{"id":19,"doc_module":4,"doc_module_name":9,"category_name":20,"show_sort_weight":21,"slug":22},4,"Exam",70,"exam",{"id":24,"doc_module":4,"doc_module_name":9,"category_name":25,"show_sort_weight":26,"slug":27},5,"Comic",60,"comic",{"id":29,"doc_module":4,"doc_module_name":9,"category_name":30,"show_sort_weight":31,"slug":32},6,"Technology",50,"technology",{"id":34,"doc_module":4,"doc_module_name":9,"category_name":35,"show_sort_weight":36,"slug":37},7,"Healthcare",40,"healthcare",{"id":39,"doc_module":4,"doc_module_name":9,"category_name":40,"show_sort_weight":41,"slug":42},8,"Research & Report",30,"research-report",{"id":44,"doc_module":4,"doc_module_name":9,"category_name":45,"show_sort_weight":46,"slug":47},9,"Religion & Spirituality",20,"religion-spirituality",{"id":46,"doc_module":4,"doc_module_name":9,"category_name":49,"show_sort_weight":46,"slug":50},"World Cup","world-cup",{"id":52,"doc_module":4,"doc_module_name":9,"category_name":53,"show_sort_weight":52,"slug":54},10,"Lifestyle","lifestyle",{"id":56,"doc_module":4,"doc_module_name":9,"category_name":57,"show_sort_weight":24,"slug":58},19,"General","general",{"code":4,"msg":60,"data":61},"ok",{"site_id":62,"language":63,"slug":64,"title":65,"keywords":66,"description":67,"schema_data":68,"social_meta":124,"head_meta":126,"extra_data":128,"updated_unix":130},105,"en","the-functions-and-future-of-retail-banking-read-online-free","The Functions and Future of Retail Banking - read online free","","The text explains how retail banking functions evolved by comparing medieval financial intermediaries with modern banks. It argues that organizations succeed by using the best available technology to deliver customer-valued services, and it frames the future of retail banking around understanding demanded services and each bank’s comparative advantage. A functional approach is presented, listing core bank roles such as exchange and settlement, funding enterprises, transferring purchasing power, managing risk, monitoring borrowers, and providing credit supply-demand information.",{"@graph":69,"@context":123},[70,84,106],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/the-functions-and-future-of-retail-banking-read-online-free/426564/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/the-functions-and-future-of-retail-banking-read-online-free/426564.png","ImageObject",300,407,{"name":92,"@type":93},"Quinn Holloway","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-21","2026-09-29",true,{"@type":102,"interactionType":103,"userInteractionCount":105},"InteractionCounter",{"@type":104},"ViewAction",11,{"@type":107,"mainEntity":108},"FAQPage",[109,115,119],{"name":110,"@type":111,"acceptedAnswer":112},"What determines the future of the retail banking industry according to the text?","Question",{"text":113,"@type":114},"The future depends on whether banks continue providing value to customers and on understanding what customers want along with each bank’s comparative advantage in supplying those services.","Answer",{"name":116,"@type":111,"acceptedAnswer":117},"How were banking-like functions carried out in earlier centuries?",{"text":118,"@type":114},"Medieval Champagne Fairs used tokens representing verified deposits to settle merchants’ accounts, while scriveners reduced transaction costs by writing letters and contracts.",{"name":120,"@type":111,"acceptedAnswer":121},"What six broad functions do banks provide under the functional approach?",{"text":122,"@type":114},"Banks conduct exchange (clearing and settling claims), fund large-scale enterprises, transfer purchasing power across time and distance, manage risk, monitor borrower performance, and provide information about credit supply and demand.","https://schema.org",{"og:url":83,"og:type":125,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":127,"canonical":83},"index,follow",{"doc_id":129,"site_id":62},426564,1790739554,{"code":4,"msg":5,"data":132},{"doc_id":129,"user_id":133,"nickname":92,"user_avatar":134,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":135,"file_id":136,"file_url":137,"file_type":138,"file_size":139,"view_count":105,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":44,"language":140,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":67,"update_tm":144,"read_time":145},2336474466712,"https://ap-avatar.wpscdn.com/davatar_a8503ba1806abce46bf441b54a3ca4cd","# The Functions and Futureof Retail Banking\n\nby Jerry L.Jordan  \nAAt the turn of the century,one of thelargest employers in America was theU.S.Ice Trust,which cut,stored,anddelivered ice for people's “iceboxes.”Today,that industry employs only a frac-tion of the workforce it once did.Thishappened not because people stoppedconsuming cool fresh food,but becausethe refrigerator—a product bom of newtechnology—all but eliminated the needfor ice blocks.In contrast,the FisherCompany,which produced carriages andbuggies in the early years of the century,is still in the business of making automo-tive bodies.  \n## ■ Origins of Banks\n\nEconomies have always developedmethods for providing financial serv-ices.Over time,the providers of theseservices have adapted to changes intechnology and customer preferences.Functions that today are identified with\"banking\"were performed by theorganizers of the Champagne Fairs inthe twelfth and thirteenth centuries.They issued tokens to participating mer-chants,with each token representingdeposits of coin,plate,and bullion thathad been tested.The merchants usedthese tokens to net out their accountsbefore settling in the deposited gold.Atthe same time,scriveners—clerks whowrote letters and contracts in an illiter-ate age—reduced transaction costs.  \nWhat does the future hold for the retailbanking industry?That depends onwhether it continues to provide value toits customers.The challenge for bankmanagers and supervisors is to under-stand what customers want—to distin-guish between cutting ice and keepingfood cold.In my view,understandingthe services that people demand andexploring banks'comparative advan-tage in supplying them will be crucial indetermining the future of the retailbanking industry.  \nMost professors of money and bankingfondly describe how medieval gold-smiths accepted gold for safekeeping,and how the receipts they issued eventu-ally became money.The goldsmithsassayed bullion samples,certified theirquality,and issued receipts that wereeasier to carry than metal.Thus,theyadded value by producing verifiableinformation and reducing transactioncosts.From here,it was but a short stepto making loans.  \nBy considering the value-adding activi-ties of banks,I hope to provide a frame-work for evaluating profitableopportu-nities and assessing competition fromother banks,money market funds,oreven phone and computer software com-panies.I also examine how new methodsof delivering financial services mayaffect the role of the Federal Reserve inregard to money,the payments system,and banking supervision.  \nInstitutions more recognizable as banks,such as the Casa de San Giorgio in 1407and the Bank of Amsterdam in 1609,arose on the continent.2 These firms pro-vided safekeeping and security,assessedand certified quality,and enabled transfer  \nSeptember 15,1996  \nSocieties have always developedways to provide financial services.Although medieval goldsmiths mayseem worlds removed from today'scommercial banks,they have oneimportant trait in common:Bothsucceeded as financial intermedi-aries because they were able to pro-vide the services their customerswanted using the best technologyavailable at the time.In this look atthe future of the retail bankingindustry,Federal Reserve Bank ofCleveland President Jerry Jordanexplains that as technology andderegulation transform the financialmarketplace,it will be critical tounderstand the services that peopledesire and explore banks'compara-tive advantages in supplying them.  \npayments.Although fund transfers had tobe conducted at the bank,transactioncosts were relatively low compared tocarting gold through the streets.3  \nThis brief history holds several lessons.First,many of these functions still sur-vive,though modern banks'methods ofproviding loans and a convenient meansof payment are considerably different.Second,the institutional form haschanged dramatically—from guild tocorporation.For example,banking andgoldsmithing are no longer combined.4  \n## ■ The Functional Approac","cbCaicT1pFgmQ0Jd","https://ap.wps.com/l/cbCaicT1pFgmQ0Jd","pdf",1998357,"English","# Origins of Banks\n## The Functional Approach to Financial Services","[{\"question\":\"What determines the future of the retail banking industry according to the text?\",\"answer\":\"The future depends on whether banks continue providing value to customers and on understanding what customers want along with each bank’s comparative advantage in supplying those services.\"},{\"question\":\"How were banking-like functions carried out in earlier centuries?\",\"answer\":\"Medieval Champagne Fairs used tokens representing verified deposits to settle merchants’ accounts, while scriveners reduced transaction costs by writing letters and contracts.\"},{\"question\":\"What six broad functions do banks provide under the functional approach?\",\"answer\":\"Banks conduct exchange (clearing and settling claims), fund large-scale enterprises, transfer purchasing power across time and distance, manage risk, monitor borrower performance, and provide information about credit supply and demand.\"}]","The Functions and Future of Retail Banking - read online free | PDF",1790640948,23]