Reportbronze2003

Cost Savings from Electronic Payments and ATMs in Europe

David Burras Humphrey · Magnus Willesson · Göran Bergendahl · Ted Lindblom

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Digital Transformation in Financial Services Banking stability, regulation, efficiency Banking Sector Performance and Management

Abstract

Electronic payments are considerably cheaper than their paperbased alternatives.Similarly, ATMs are a more cost-efficient way to deliver certain depositor services than are branch offices.As the share of electronic payments in 12 European countries rose from 0.43 in 1987 to 0.79 in 1999 and ATMs expanded while the number of branch offices was constant, bank operating costs are estimated to be $32 billion lower than they otherwise might have been, saving 0.38% of the 12 nations' GDP.Our results are robust to the form of cost function estimated-composite, Fourier, or translog.( 93 words)

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References

1982Contestable Markets and the Theory of Industry Structure 1997Inside the black box: What explains differences in the efficiencies of financial institutions?1996Economies of Scale and Scope at Large Commercial Banks: Evidence from the Fourier Flexible Functional Form 1992A Composite Cost Function for Multiproduct Firms With An Application to Economies of Scope in Banking 1997Inside the Black Box: What Explains Differences in the Efficiencies of Financial Institutions?1993The Role of Fixed Costs and Cost Complementarities in Determining Scope Economies and the Cost of Narrow Banking Proposals 1990Proper Quadratic Cost Functions with an Application to the Bell System 2003What Does it Cost to Make a Payment?

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2007Opening the black box: Finding the source of cost inefficiency 2010Investment and Usage of New Technologies: Evidence from a Shared ATM Network 2023Opportunities and challenges of artificial intelligence in banking and financial services 2007Pricing of Payment Services: A Comparative Analysis of Paper-based Banking and Electronic Banking

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