What is the role of the computer in banking system?

Answer 1

Banking would be a dangerous field to work in without Computers, people would go to the bank carrying large sums of money early in the morning and leave the Bank the following morning just to finish counting the money manually usually getting blisters after that, but computers have made it all easier, on the operation research side, it has proved so effective that one can simply walk to the ATM and withdraw the money, without necessarily waiting in a long cue to get served by the teller, getting around clients details is far much more improved than ever before so is the generating of clients statement.

Answer 2

I want to tell you that now a days mainly in Banks all the transactions is done by Computer network and this is called a special word CBS (Core banking solution) Which mean every branch of a Bank which has facility of CBS do their whole work with the help of Computer.

All the transaction are done by internet or intranet between banks. And banks use special software not sure about that but it is Oracle made which do all the work instead of keeping record in paper register.

Answer 3

In money and banking the computer is useful for online shopping, paying bills, accessing your bank account and getting online statements, and much more.

Answer 4

The effect of computer in money and banking is seen in the implementation of technology. This has revamped the banking sector by introducing mobile and internet banking.

Answer 5

Computers are used to keep track of chequing and savings accounts, transaction history, and other banking data.