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The role of computer in banking sector is very wide. This is used for recording transactions and has the database of the bank among other integral functions.
Wiki User
∙ 9y ago
Wiki User
∙ 11y ago1. Account Management
o In banking, activities start with banks automating customer accounts, which allows personnel to create, update and maintain customer records. Banking hardware and software have enhanced the accuracy of accounts that tellers and other banking personnel process. Banking software performs customer transactions through a centralized data record system. Account management is the genesis and backbone of all banking information systems.
Hardware Technology
o In the 1960s, bank hardware consisted of a mainframe and a punch card machine. Punch cards contained customer account information and were read into the main system by a punch card machine. Midrange and client/server hardware configurations, which are no larger than a minitower system, can run an entire bank in addition to receiving transactions from affiliated bank branches. These new hardware technologies can process more transactions than legacy banking hardware systems. Hardware technologies have enabled advances into wireless banking and telecommunications banking.
Electronic Transactions
o Banking systems must perform electronic transactions. Direct deposit is an example of an electronic transaction. Computers processing electronic transactions must have hardware and software encryption capabilities to keep data from being compromised during a transmission. After the computer performs electronic transmissions, it transfer the information to the main computer system for processing and updating. Banks have extended electronic transaction capabilities through landline and cell phones, the internet and ATMs.
Wiki User
∙ 9y agoComputers help employees in the banking industry make fewer errors. Computers automate much of the process of doing their jobs, which increases the accuracy of the job.
Wiki User
∙ 14y agoComputing in the financial sector allows for multiple transactions between banks, financial institutions, and between companies to be done in a more effective, safe, and speedy manner.
Wiki User
∙ 14y agowhat are the important of computer to banking
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What is mobile banking and internet banking?
Mobile banking is when you do banking from a mobile device such as a cellphone, iPod, or iPad. Internet banking is when you bank from a computer.
What purpose you used computer in banking system?
purpose of internet banking
What is net banking and core banking?
Core banking refers to banking services provided by a network of branches. Internet banking is the ability to complete banking transactions from your home using your computer.
What are the important for sperm and zygote banking?
the important for sperm and zygote banking is to presrve it in the future to be pregnant
What is computer memory banking?
Hard Disk
What is the meaning of computer in Banking industry?
POTATO!!!!!!!!
Can you relate science and banking?
Science and banking are related in that both require specific procedures to be followed. Computer science is used in banking because most people who work at a bank need to know how to use a computer.
The impact of computer in the banking sector?
The impact of computers in the banking sector cannot be understated. Computers have transformed every aspect of the banking industry
Relate the concept of utility to banking and finance?
important of utility to banking and finance
Where the server computer being used?
banking sectors
What are the commercial uses of a computer?
banking and hotel booking
What is the scope of Bachelor of Computer Science BCS Honours?
you can get job in banking computer operator..........
