What are the traditional financial instruments?

Traditional financial instruments include: electronic banking, electronic fund transfer, electronic transactions and electronic financial services.

1, electronic banking

E-banking refers to the transfer of financial information and transactions between banks and customers through network connection or the Internet. It mainly includes online banking and telephone banking. With the help of personal computers, ATMs and other instruments to provide services, we can shorten the distance between banks and customers and achieve the purpose of improving efficiency.

2. Electronic transfer of funds

Inform or authorize financial institutions to handle capital current account transfer through information equipment or tools such as terminals, voice tools and computers.

There are mainly online electronic transaction payment systems and credit card payment systems. The essence is electronic cash and electronic check.

Electronic cash: an online payment system for electronic transactions. Its main purpose is to replace consumers' dependence on cash in the purchase process with electronic payment, but it still retains the monetary nature of cash.

E-check: Buyers can make transactions with a certain amount of checks. These checks are transmitted electronically and are similar to traditional checks in many ways. The account user will get an electronic document, including the payer's name, account number, the name of the payment financial institution, the payee's name and the total amount of the check.

Electronic payment system usually refers to electronic credit card payment system, electronic check payment system, online electronic cash products (such as digital cash and electronic money) and so on.

3. Electronic transactions

Including all kinds of financial products, are increasingly relying on electronic means. Stock trading, futures trading and foreign exchange trading all need a strong and rigorous electronic trading platform.

4. Electronic financial services

Including electronic services provided by various financial institutions, such as online marketing, online or telephone customer service (such as online or telephone application for credit cards), remote operation and settlement of customers (such as electronic letters of credit), online product information services (such as online inquiry of deposit interest rates), etc. The development and operation of electronic acceptance bills, electronic letters of credit and electronic mortgage guarantee based on electronic network system have improved the efficiency and quality of financial business, improved the service to customers, reduced the management cost and expanded the income level of banks.