Important of computer in banking sector

Customers are now demanding new, more convenient, delivery systems, and services such as Internet banking have a dual role to the customer. Electronic business transactions can only be successful if financial exchanges between buyers and sellers can occur in a simple, universally accepted, safe and cheap way.

Banks need the ability to also sell insurance and investment products to get a better return on this investment. Telephone banking can bring financial services to the home or office, especially if they are affordable screen phones.

He has been a college marketing professor since High turnover rate of technical staff. It becomes a strategic necessity for the Lebanese banks to implement the new technologies at all levels, transactional level, managerial level and executive level. The pilot project between Bank of America BofA and one of its large corporate customers involves transporting financial EDI transactions over the Internet.

This facility has also enabled anytime banking, because customers can use ATM machines to deposit money on their accounts.

Financial Sector

Anywhere Banking no matter wherever the customer is in the world. The only remaining barrier is the lack of real world users of those technologies.

However, the development of CRM gave proactive banks access to technology that helped them improve customer retention by using customer feedback to offer conveniences like ATMs and online banking. Most Lebanese banks have realized this fact and some of them have established a training centre.

What Is the Importance of Computers in the Banking Industry?

Rapid geographical expansion has forced banks to replace their off-line systems by an on-line system linking the branches to the head office through the telecommunications network. So long as the individual data items are available only to those directly concerned, everything seems to be in proper place, but the incidence of data being cross referenced to create detailed individual dossiers gives rise to privacy problems.

The project is also significant beyond BofA: The Lebanese Case During the last civil wareighty percent of the Lebanese infrastructure was destroyed.

This network will also be used to connect the ATMs machines which will thus function on-line. The Lebanese telecommunications infrastructure was devastated by the civil war. However, this human factor is a critical factor in the success of any banking application of information technology.

For all these reasons, the banks delivery systems are completely changing. Moreover, such technologies are already available.

They must determine whether to deploy new technologies themselves or with other service providers. Balance enquiry, request for services, issuing instructions etc.

What Is The Importance Of Computer In Banking Sector?

The technology has commoditising some of the financial services.Computer Awareness Quiz; SSC CGL GK Data Interpretation; Store; Important Parliamentary Acts related to Banking sector in India Published on Tuesday, December 27, Vital Parliamentary Acts related to Banking sector in India The table given below gives you a comprehensive list of Important Parliamentary Acts related to Banking.

Name of. Banks and the Importance of Banking Importance of Bank History - Free download as Word Doc .doc), PDF File .pdf), Text File .txt) or read online for free/5(3).

Answer (1 of 6): There are many different important factors of having a computer within the banking sector. It makes life a lot quicker and easier and there will no longer have to be manual inputs of data on paper and within records, it can all be taken care of by the computer and be stored and sent on accordingly.

Previous transactions of certain customers can be found in seconds as opposed. The importance of computers in our daily lives can be judged by the number of people using them each single day.

They are not only used by professionals, but also by the little children learning coding and adults at our homes. The largest companies within the financial sector are some of the most recognizable banking institutions in the world such as JPMorgan Chase & Co., Wells Fargo & Company, Bank of America.

THE IMPACT OF COMPUTER IN THE BANKING SECTOR In the 21st century, more and more people are using the computer and banking system to manage their personal and business finances.

Indeed, the blending of computer and banking has made the overall management of household and business finances far easier than it ever has been at any point in history. With the computer and banking, it is .

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Important of computer in banking sector
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