APPLICATION
OF COMPUTER IN BANKING
1. Computer
houses all customers’ account data.
2. It
performs complex analysis of constantly changing financial markets.
3. It
keeps track of the entire bank’s product offerings and their associated
interest rates and earnings.
4. Computers
help in the communication of other mainframes at branch location round the
world.
5. Automated
Teller Machine (ATM): this has liberated
the typical bank customers from the last minute race to get to the bank before
it closes.
6. Teller
Computer Terminal: this helps to provide access to business and personal
overseas accounts and process wire transfer and bill payments to the bank’s
proprietary credit cards and any other bills.
7. Scanners:
banks and their customers can use check scans routinely for deposits and
transfers, making the digital imaging function a major player in today’s
computerized banking.
8. Biometric
Devices: the biometric identification of customers using fingerprint is an
effective way of minimizing fraudulence and safeguarding the customers’
account.
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