Implementation Of FEDI: A Pilot Study On The Banking Industry In Malaysia

Abstract

Financial Electronic Data Interchange (FEDI) refers to making cash payment electronically rather than utilizing any from of traditional payment methods such as checks The prime objective of this paper is to ascertain how is FEDI currently being implemented by10 anchor banks in Malaysia. Specifically this paper examines the current business process that facilitates transfer of payment received by banks to its various agents. The paper also examines the security or precautionary measures established by anchor banks while engaging in financial electronic data interchange.