I wouldn't agree that the financial structure in the US seems primitive, but it's quite sure a lot less customer friendly. The most tedious thing was to participate in a campaign ' Customer is the king' on a daily basis, although I was a computer guy there. No exception at all.
I can feel they have a lot less fraud incidents than Norte America. Their system is kind of bureaucratic structure; instead Banks hire lots of retired law-enforcement to look after who are fallen behind their card payment. People over there has a perception that no pay to the bank, unless borrow money. Which means I am a king of the feeder for Banks, and Banks still makes pretty big fortune with fees. Honestly I don't know how much portion in their profits from the fees if they charge. I was a system programming guy... Regards John Kim -----Original Message----- From: IBM Mainframe Discussion List [mailto:ibm-m...@bama.ua.edu] On Behalf Of Hal Merritt Sent: Thursday, January 07, 2010 11:00 AM To: IBM-MAIN@bama.ua.edu Subject: Re: Korean bank Moves back to Mainframes (...no, not back) Concur. It would appear that the consumer electronic financial infrastructures are quite different outside of the US. Indeed, ours seems pretty primitive and a lot less consumer friendly. More, they don't seem to have quite as much of a fraud problem as we seem to have. I think I read somewhere that they don't use 'credit cards' as we know them in Asia. Rather, it is more of a 'smart card' strategy. Wonder how this works without fees? -----Original Message----- From: IBM Mainframe Discussion List [mailto:ibm-m...@bama.ua.edu] On Behalf Of Sam Siegel Sent: Thursday, January 07, 2010 11:42 AM To: IBM-MAIN@bama.ua.edu Subject: Re: Korean bank Moves back to Mainframes (...no, not back) I will bow to the man with direct experience ... Base on reading the article it appeared to be talking about traditional Credit Card processing. It was not clear to someone without directly knowledge of the S. Korean banking system (me) that Credit Cards handle such a broad scope of financial transactions. Even then, it means an average of 5 transaction per day per card they manage. This is a very impressive number of transactions per card per day. Regards, Sam On Thu, Jan 7, 2010 at 5:19 PM, John Kim <john....@atcoitek.com> wrote: > I am a positive side they process hundreds of millions of Credit Card > transactions a day. I used work for the one of national banks (BC card > member). > > Their banking system also quite remarkable that more than dozen of > accounts from each bank are all connected to the card account; > - They almost do every thing through banking systems - pay tax, utility, > cell phone, > Speeding ticket, home shopping, air-line ticket, and wiring to > another bank...etc > - Bus pass, Sub-way or toll-gate fare also paid from your bank accounts > directly when you screen the system in on-site. > > > All these transactions are linked to card account via banking > accounts, but customers pay nothing to bank for transaction fee or any > other service changes... > No balance limits for waiver a service charges... not at all (but wire > to other countries). Instead they stand up & bow to you when you step > into the bank and advice you opening more accounts & cards. > > You don't even have to open the door because your first encounter is a > door man. He / She will hand out you pamphlets & asking the opening > accounts & cards. > > We used hire university kids as a summer job. They were pretty good > except random accident, some times bumped heads when they bowed each > other. > > > It can't be a simple comparison unless by population (45 million vs > ??? million). Their system is quite different than US card companies; I > used have 7 BC cards from different banks that allowed more credit > limits from each banks. > > - And also their changed attitude populates more cards; they used gift > their children savings accounts for entering kindergarten or > birthday...etc. But now it has switched to credit cards & cell-phone > (it's called hand-phone in S Korea). > > > > > -----Original Message----- > From: IBM Mainframe Discussion List [mailto:ibm-m...@bama.ua.edu] On > Behalf Of Sam Siegel > Sent: Thursday, January 07, 2010 4:15 AM > To: IBM-MAIN@bama.ua.edu > Subject: Re: Korean bank Moves back to Mainframes (...no, not back) > > There are other business related inaccuracies in the article as well. > The > article indicates that they process hundreds of millions of Credit Card > transactions a day. Having previously worked at a large credit card > processor in the US, it can be said with certainty that the S. Korean > credit > card volumes are orders of magnitude smaller than US volumes. The US > volumes are in the range of 100 to 200 million per day depending on the > time > of the year. > > On Thu, Jan 7, 2010 at 8:39 AM, Timothy Sipples > <timothy.sipp...@us.ibm.com>wrote: > > > That's not the correct headline. > > > > BC Card isn't moving *back* to mainframes. In its 27+ year history, BC > Card > > has never had a mainframe -- nothing in the System z lineage, anyway. > They > > are now replacing HP and Sun UNIX servers, and Oracle databases, with > (a > > presumably small number of) IBM mainframes. They are new in almost > every > > possible mainframe-related way: new z/OS customer, new CICS > Transaction > > Server for z/OS customer, new WebSphere Application Server for z/OS > > customer, new System z10 customer, new mainframe customer. > > > > There are some things in the article I disagree with, but there's one > fact > > in particular that is most certainly not correct. The article says > this: > > > > "Sources at IBM say that this is the first Unix-to-mainframe > application > > migration in nearly a decade." > > > > I hate to disagree with "sources at IBM," but no, that's just > factually > > incorrect. I have personal knowledge of another such customer (in > Japan) > > who migrated their applications from distributed UNIX to z/OS with > Parallel > > Sysplex, and they never had a mainframe before. Quite possibly their > entire > > industry has never had a mainframe before, partly explaining why > they're > > not public. I suspect there are others. > > > > Which is not to say that this isn't significant news from Korea. It > is, > > very. > > > > - - - - - > > Timothy Sipples > > IBM Consulting Enterprise Software Architect > > Based in Tokyo, Serving IBM Japan / Asia-Pacific > > E-Mail: timothy.sipp...@us.ibm.com > > ---------------------------------------------------------------------- > > For IBM-MAIN subscribe / signoff / archive access instructions, > > send email to lists...@bama.ua.edu with the message: GET IBM-MAIN INFO > > Search the archives at http://bama.ua.edu/archives/ibm-main.html > > > > ---------------------------------------------------------------------- > For IBM-MAIN subscribe / signoff / archive access instructions, > send email to lists...@bama.ua.edu with the message: GET IBM-MAIN INFO > Search the archives at http://bama.ua.edu/archives/ibm-main.html > > > The information transmitted is intended only for the addressee and may > contain confidential, proprietary and/or privileged material. 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