Template-Type: ReDIF-Article 1.0
Author-Name: László Bodnár 
Author-Name: László Delikát
Author-Name: Bence Illés
Author-Name: Ádám Szepesi
Author-Workplace-Name: Magyar Nemzeti Bank
Author-Email: bodnarl@mnb.hu
Title: Savings cooperatives + integration = More efficient payment services?
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.
Classification-JEL: G21, E42, P13, R11
Keywords: savings cooperative, integration, payment inspection, Takarékbank, Payment Services Act
Journal: Financial and Economic Review  
Pages: 122-146
Volume: 14
Issue: 3
Year: 2015
File-URL: http://english.hitelintezetiszemle.hu/letoltes/6-bodnar-delikat-illes-szepesi-en.pdf
File-Format: Application/pdf
Handle: RePEc:mnb:finrev:v:14:y:2015:i:3:p:122-146