Savings cooperatives + integration = More efficient payment services?

László Bodnár, László Delikát, Bence Illés and Ádám Szepesi ()
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Ádám Szepesi: Magyar Nemzeti Bank

Financial and Economic Review, 2015, vol. 14, issue 3, 122-146

Abstract: After a short introduction of the history of savings cooperatives, the article focuses on the sector’s role in payments in general. Its drawbacks from a payments point of view are examined, which are mostly be associated with the decentralised operation of the sector and the high level of manual procedures. The authors elaborate what possible effects the new integration might have on domestic payments, specifically focusing on those areas where there is still room for further improvement. Finally, they conclude that the ultimate solution for the lawful operation of an integrated model with multiple participants would be a unified accounting system. The conclusion is that creating a savings cooperatives integration will offer the opportunity to provide competitive financial services based on modern, unified procedures.

Keywords: savings cooperative; integration; payment inspection; Takarékbank; Payment Services Act (search for similar items in EconPapers)
JEL-codes: E42 G21 P13 R11 (search for similar items in EconPapers)
Date: 2015
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:mnb:finrev:v:14:y:2015:i:3:p:122-146

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