Use of computers in banking

Research from the library and internet. The first computers were people! These banking services include: a Acceptance of deposits from customers.

what is the use of a bank

Now banks and their customers use check scans routinely for deposits and transfers, making the digital imaging function a major player in today's computerized banking. However the use of computer in the banking sector can be an efficient tool in speeding up the process and reducing the cost of producing and undertaking figure works.

However, without the mainframe backbone a group of interlinked computersthere would be no way for an individual machine to tell you how much money you had available, or to update your balance after a transaction.

Advantages and disadvantages of computers in banks

Online Banking Furthering the do-it-yourself banking model is online banking, which allows customers to pay bills, view account balances, transfer funds from one account to another, pay friends and much more. The term bank drives from the latin bancuss, which refers to the nature of the institution changes over the many years. Before the adoption of ATMs, you would have had to wait for your local branch to open, before you could make a withdrawal. Once an account is open, the bank manages everything electronically. Tighter customer registration and control policy thus giving rise to a sharp decrease in the availability of fund to run the bank. The use of computers have sped up that entire process, with instant check authorizations. To evaluate the extent to which the Access bank plc adhere to the cash management principles. These were later replaced by the use of pens, inks, papers, chalk, etc.

The bank took pains to present itself as a sound financial undertaking and adopted stand common to commercial financial institutions economic. Congress ensured that would never happen again by making digital scans of checks as legally viable as paper checks. This topic Computerization in commercial Bank, is designed with the following study taking into cognizant.

uses of computer in banks for class 1

With increasing availability of this technology, these print readers will soon be standard computer technology for banks internationally. Many credit cards, smart cards, master cards can also be used to withdraw money at an ATM and the online banking against the credit limit extended to the card.

Essay on uses of computer in banks

To evaluate the extent to which the Access bank plc adhere to the cash management principles. Every individual, organization needs information. The Automatic Teller machine ATM enable bank customer to withdraw, recharge phones, transfer funds from their various accounts even when the bank is closed physically. But due to financial and other constraint, the research work only covers the Access Bank plc. The term data is a symbolic representation of facts about people, object or place. A long time ago, people charged with the duty of collection and disbursements of tax were encountering problems in calculations. Still, many banks maintain local branches with full-time account representatives to help nearby customers who want that personal touch. This work shall be of vital benefit to the financial sectors, on an effective use of computer in delivering precise data. Communicates with other mainframes at branch locations around the world. Performs complex analysis of constantly changing financial markets. These banking services include: a Acceptance of deposits from customers. Internet Banking Another way in which computers make it easier for customers to manage their money is through Internet banking. Management and Backroom Like any business, a bank must keep an eye on its own financial performance, and produce analyses and reports which support the strategic development of the company. Customers keep their money in the bank safely and it is paid out when needed by means of cheques and other ways. These machines are themselves computers.
Rated 7/10 based on 38 review
Download
Computers in banking