What are the importance of computer in the bank?

Answer 1

1. 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.

Answer 2

Computers help to manage one's own business assets and personal finances. Computers serve as efficient means for management of information. Personal financial assets and important documents can be stored in an electronic format in a computer system. Today, banking transactions and payments of bills can be done over the internet.

Because of computers in banking, you can make deposits or withdrawals at any time, and funds are posted immediately. Just a couple of decades ago, you had to make sure you made a deposit before 2:00 PM so it would be posted the same day. You can also purchase things online, nearly anywhere in the world.

Answer 3

Computer is a very compulsory item for all banking works. Specially banks wants computer for transactions, create documents, Some data for stored electronic banking services, and computer networking is very essential thing for connecting each other. Internet and e money services electronic banking services are using computer as well. All the transactions and atm cards are executing and controlling using computers. All the security systems are creating controlling, processing using computer knowledge in the banks.