Computers in banking is a term used for the process by which banking transactions by bank employees and customers are performed electronically eliminating the need for paper files and physically entering the bank itself. Computers in banking is a term used for the process by which banking transactions by bank employees and customers are performed electronically.
With the use of computers, key financial decision makers are able to send financial reports and strategies instead of holding meetings this system allows people in the finance sector to get updates on world stock exchange, and price changes affecting their business. In recent years, we have seen the integration of banking systems with the wider internet - which has given us internet and mobile banking services automated teller machines (atms) at least one atm, (or cash-point) can be found on every high-street these machines are themselves computers.
Computers allow banks to provide atm services, online banking, speedier transactions and accurate tracking and verification of funds they also make banking institutions more secure through enhanced security and surveillance setups prior to computers, all bank accounting was done by hand this. Use of computers in banks by jennifer williams - updated june 29, 2018 any neighborhood bank offers a variety of services, including access to your personal and business account information, advice on investments, funds withdrawals from either a live or automated teller, and funds transfers completed over the internet. This is the most vital knowledge required by any bank employee nowadays all transactions are done in any commercial bank using the computers only for your information: at the time of recruitment of probationary officers for the commercial banks.
Banking tellers also use computers to access customer data quickly instead of having to find a file for every customer who enters, tellers can simple type in the customer's name and bring up relevant data instantly. In fact, computers have been in use in banking since the 1950s, when bank of america introduced a computer designed specifically for processing checks each new decade has brought innovations that change the way banks manage daily operations and serve customers.
The online banking further gives the evidence of excessive use of computers in banking sectors just in a couple of seconds you can retrieve all of your previous transactions in your accounts transfer of money can be also made online through these computers. The banking sector has embraced the use of technology to serve its client’s faster and also to do more with less emerging technologies have changed the banking industry from paper and branch based banks to ”digitized and networked banking services.