Within recent years human computer interaction has changed within the economy I will discuss three factors which interlink with this. These are increased automation, productivity and varied working environments.
Increased automation
o Bank
Firstly you have increased automation within a banking environment you now have three main ways of banking. 1. Online 2. Telephone Banking 3. Branch most major banks have introduced productive ways of banking to suit economy. Know two individuals bank the same everyone likes something different you will find that generation will fuel the channel in which and individual will decide to bank.
By introducing online and telephone banking economy have no necessary need to go into their local branch and due
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This is a prime example of how changes within the economy are effecting those who work for the banks and also customers of the bank.
It could be argued that making changes can help economy as more avenues have been introduced giving customers more choice. This allows for any customer who works antisocial hours take control of their banking, it allows for every customer to be treated fairly as everyone has the same opportunities with their banking. For example savings account online normally have a higher interest rate to those offered in branch these accounts are optional for every customer however you need to bank online to manage the account therefore you automatically introducing yourself to a new avenue of banking.
It could be argued that making changes is harming the economy as manual labour is taking a cut therefore more individuals are unemployed. More unemployment puts a strain on the government this would then be costing the government.
Increased automation
o retail (Inc. stock levels/reordering)
Within the retail environment there has also been many changes which have had a knock on effect with the economy. The two many factors which need to be consider would be stock levels and reordering of stock.
So for reordering stock and checking stock levels you can invest in an accounting software which will check your stock levels on a regular bases allowing for less labouring staff to be
In the world of banking and finance nothing stands still. The biggest change of all is in the, scope of the business of banking. Banking in its traditional from is concerned with the acceptance of deposits from the customers, the lending of surplus of deposited money to suitable customers who wish to borrow and transmission of funds. Apart from traditional business, banks now a days provide a wide range of services to satisfy the financial and non financial needs of all types of customers from the smallest account holder to the largest company and in some cases of non customers. The range of services offered differs from bank to bank depending mainly on the type and size of the bank.
The banking industry builds and sustains Financial relationships with its consumers of all sizes to supply Financial products and services to stimulate economic growth. The industry participants produced a variety of services from savings accounts to home and business loans mortgages checking accounts and
The rapid advancement in information and communication technology (ICT) has extensively swayed the banking industry. Banks and other financial institutions have improved their services as financial intermediary through adopting various Information Technologies (IT). Technology has become a tool that facilitates banks ' organizational structures, business strategies, customer services and related functions. The recent "Information Technology (IT) revolution" has exerted far-reaching impact on economics, in general, and the financial
Banking-related transactions that typically take long span of processing can now be done in just a few minutes, or even seconds. Aside from this, there are still other brilliant benefits that the IT has contributed to the finance sector, which may bring not only advantages but also possible drawbacks.
The number of individuals going to branches has dropped by 30% before two years, while nearly 80% of while some 70% of the Karachi banking population now uses some form of online banking service every month. More consumers are embracing mobile banking via their phone or tablet. Developments in technology have empowered banks to increase customer
The Online banking and financial services have revolutionised the consumer and corporate banking industry in the last few decades or so by giving customers the power to conduct their banking anytime, anywhere and without all kinds of paperwork and branch visits. This has been possible with the help of massive investments in information technology, systems and communication infrastructure linking the banking industry network with their universe of customers. This empowerment has also given the financial services industry a platform to create financial products with which to woo the marketplace to grow market share, revenue and profits at rates not seen
Private banking industry has changed in a very basic way, driven by many key factors such as: free competition systems, modern developments in information technology (in particular, developments of the internet), and changing demographics. Private banks now operate in an environment shaped by increasing and shifting regulations, and in markets influenced by the uncontrolled situations of the world economy and geopolitical issues.
Banking in today’s era is in process of upgrading itself by joining the wave of latest technologies and trends. Currently, it is in the midst of chaos and disruptions and is in process of reshaping its business models to alienate the traditional processes. The driving force for Banks to adopt such changes can be a. Changing customer needs, b. Optimization of cost and Banking Operations, c. Digitization and Automation, d. Streamlining of complex and lengthy processes and e. New competitors in the industry.
In the banking industry its has been in the form of online banking which is now replacing the traditional banking practices as traditional banking often cost more than online banking .Most bank cost often maintenance fee and teller interaction fee for every transaction processed. Online banking has lot of benefit which add value to customer satisfaction in terms of better quality of sevices offering and also helps the bank to gain more competitive advandages to over than other competitors. Online banking or internet banking
Now, the mantra of the new generation banks is – customers are not welcome (to branch). If you want any service you don’t come – we will come to you. And if you want to know any things you don’t call us – we’ll call you. Most of these banks in fact fine it more expensive
distance but they are only one click away. if the clients are not happy with the
> Bank is not presenting new point s nowadays, so bank should help the item improvement and increase the scope of offices offered for clients. Also, the rates of ebullience on its different items have been decreased.
It also makes the work easier and relieves the banking staff of much work to be done since people can now withdraw their money through other means e.g. ATM, Debit card etc. (Jhingan 2004).
The present paper is concerned with the various ways of doing banking electronically. This paper has been divided into four sections dealing with four aspects of E-banking i.e. ATM, Internet banking , Mobile banking and Credit cards. Paper is basically concerned with the customer aspect of banking searching for customer satisfaction level. This is a comparative study of Public sector bankis, Private
Hence these changes were not the outcome of internal changes but of external changes. Deregulation has opened up new opportunities for banks to increase revenues by diversifying into investment banking, insurance, credit cards, mortgage financing, depository services, securitization, etc. Now all the banks have started with the concept of multi- channels, like ATMs, credit cards, debit cards, telephone/mobile banking, internet banking, call centers, etc. The role of banking is redefined from a mere financial intermediary to service provider of various financial services under one roof acting like a financial supermarket.