THE VIRTUAL-BANK OR BEING-DIGITAL

Electronic brokerage, multimedia, banking, cyber money - the list of t erms for tomorrow's banking goes on, The banks are facing serious chan ges created by rapid development in information and communication tech nology. Electronic networks will allow banking services to be provided everywhere and around the clock. This development will result in a vi rtual bank which, in the end, poses exactly that challenge which must be met by banks today. The article analyses this challenge by describi ng the elements of a virtual bank and examining the changes occuring i n bank-customer relations in order to draw conclusions regarding possi ble opportunities and risks for the existing banking system.