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Landmarks in the last 100 years of finance
20 Oct 2017
European Banks invest in mechanical accounting or punch card machines
World first: Bank of America use a computer for accounting ERMA (Electronic Recording Method of Accounting)
£1,050,000 worth of Computer ordered by Barclays, Coutts, Lloyds, Midland, Westmister, Bank of Scotland
The first ATM’s deployed in Sweden and the UK
Societe Generale is able to process a whole 68% of Banking Transactions by computer
Telephone banking in the UK and “online banking” using modem links to view statements, transfers, and bill payments
First Direct becomes the first fully functional telephone bank with no branch infrastructure
Financial Services are putting up brochure-ware websites to guide customers to their services and branches
Account services start being added to banking websites
ING Direct offers full online banking
SMS banking emerges from Fokus Nettbank in Norway
Trade execution by computers down to several seconds per trade based on algorithmic trading
UK Banks start offering Mobile Banking and Apps
MoneyFarm and Nutmeg launch
Fixnetix reduce trade execution down to nanoseconds (0.0000000001 of a second)
Dataminr launches "News Based Trading" turns social media streams into actionable trading signals
Brewin uses first bot....
Banking has been a known function for 3000 years...
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