There is an old saying about bankers that goes something like:
"Charge 'em six percent, pay 'em three,
In the office by nine, on the golf course by three"
For over two hundred years, messengers and couriers in London, England have settled money market transactions between financial institutions by walking from one to the other.
I was talking the other day to someone who, like me, has left the banking industry after many years for another area of employment. But for a much different reason.
A telecommunications device for the deaf (TDD) has been installed at the Dominion Bank in Nashville. It includes a computer terminal, a typewriter and a telephone.
In an article in the American Banker May 8,1990, Ann Richards, Treasurer for the state of Texas, talked about how things were done before she instituted electronic funds capability.