The Role of Computer in Banking Industries

The change and advancement in technology are a significant factor in the banking business. Technology has led to tremendous improvements in this industry. Since the commencement of this millennium, people have shown great love for their mobile phones (Ozaki 1992). It necessitated the invention of mobile applications (APPs). From the introduction of the mobile banking, APP people rarely go to the banks. All their transactions get done simply by the stroke of a finger. Businesses face a challenge of adapting to changes in the technology sector. Mobile banking either through actual investing or any other means is on the rise.

Internet banking renders location and time irrelevant, and empowers customers with greater control of their accounts. Banks achieve cost and efficiency gains in a large number of operational areas. This paper addresses the aspects of reliability and accessibility from a banking enterprise point of view and puts forth present day solutions to problems involving these issues. An Indian perspective of Internet banking is also looked at in order to gaining a better perspective regarding the situation.

The modern world introduces new and new technology day by day, more and more innovation and invention in computer related technology. It have more effects in computerize accounting information system in banking sector of Pakistan by providing unique and quality services to their customers by using cutting-edge technology. It will help to diminish the risk of communication gap between the internal departments. The newest technology provides drivers to persist in modern era in banking sectors to overcome the risk of communication between the internal control of departments and its efficiency on accounting information system. Internal communication is very helpful to catch efficiency during driving banking system. It provides the directions in all aspects such as: capacity of maximum resources, capability and accuracy, communication of information, calculations and recordings, data and administrative control. The establishment of communication link between all parties through a local or worldwide network, parties includes internal departments, internal employees, bank branches, clients, suppliers, external employee, Govt. and all other related parties. Internet is the best example of network linkage between stakeholders of Pakistan banking sectors. Information technology is performing extreme

Technology 's impact on society has changed in many areas of our lives. Technology has changed travel, you can now book your own plane ticket without going to a traveler’s agency, schooling you can take classes online, and have access to doctors and medicine without having to leave your home. I chose to write about the topic of banking. With the help of technology banks are able to reach out to more customers and provide better services to them. How has technology affected the world of banking? What choices do we have when it comes to our banking needs?

Technological advancement has had a gigantic effect in the banking industry. Over the past few decades, the financial services industry has changed considerably with banking transforming from the pen and paper method to the computers and internet method. The pen and paper method took weeks or even months for the transaction to be eventually completed, and then the dramatic introduction of the computer and internet method which changed that time frame to only a matter of seconds to be completed, which reduced the amount of time and labor needed to complete a transaction significantly. Banking is considered one of the most important economic sectors with it being severely influential and responsive to any little change, whether it is domestic or international. Some extreme changes that were brought about by the development of this new technology turned into a globalized nature for the financial services industry. One stroke of a key on a computer could and would change a person 's life extensively or even have a global impact. The new technologies that were created and introduced changed how the consumers managed their money from that time on. Technology has helped to protect peoples’ hard earned money and make it much more impossible for people to be able to write out bad checks or even holding up a bank. The advancement in technology however, also came with some security risks as most things do, that could affect the money that people trusted with the bank and

The use, acceptance, adoption and application of internet technology to businesses to boast their performances are not something new. Saffu et al., (2008), states that there has been a significant increase in the use and application of e-commerce in businesses in the past decade. E-commerce has benefits such as reduction in costs, increased business opportunities, reduced lead time and providing more personalized service to the customers (Turban et al., 2008). Internet banking or e-banking is one of the many tools of e-commerce adopted by the banking industry. Tools of information technology such as internet banking have significantly improved the quality of services offered by the banking

The main objective of implementing ICT in an organization is to enable it achieve its goals. Information system is regarded costly, but the changes that have taken place in the information system over a time has greatly reduced the cost of transmitting data, the acquiring storing, and transformation of data. In the banking industry for example the introduction of ATM, e-banking and smartcard has made the distribution of banking services more efficient. Indeed, it has brought about a lot of competition in the financial institutions, the banking methods have evolved, with a lot of innovations in the banking industry.

But the study conducted by (Chiemeke et al, 2000) on the adoption of e- banking in Nigeria identified the major inhibiting factors to e- banking in Nigeria such as insecurity, inadequate operational facilities including telecommunications facilities and electricity supply. The inhibiting factors encountered in Nigeria is not different from Malawian experience because the efficiency and effectiveness of e – banking service delivery largely depends on the other stakeholders roles such availability of network which is being provided by Malawi Telecommunication Limited (MTL) and Electricity supply Commission of Malawi (ESCOM) for the supply of

According to (Agboola 2001) literature which I reviewed shows that it studied the impact of computer automation on the banking services in Lagos and discovered that Electronic Banking has been extremely enhanced over the year and this was ascertained through the services of some banks to their customers in Lagos and how technological advancement has made their banking experience much easy and faster. The study was however limited to the commercial banks centered in Nigeria and only focused on only six banks. He also made a comparative analysis which was between the old and new generation banks and he also discovered some variation in the rate of adoption of information technology in the banking sector.

I am greatly honored to be here as Chairman of the Basel Committee on Banking Supervision. I’d like to begin by thanking the Swiss National Bank, Kurt Hauri and the Swiss Federal Banking Commission, and Andrew Crockett and the BIS for organizing and hosting this important conference. They’ve done a wonderful job, for which I know we’re all very grateful.

There is no debate to clarify that information security is an important asset to any organizations regardless of its size. To be more precise, information security is much important for financial institutions like Bank solutions Inc. whose main priority is to protect the confidentiality, integrity and availability of assets, individuals, information and information systems.

Having worked for over ten years in the financial services industry, specifically banking, I have come to understand how greatly technology is important to the success of a bank, the realization stem from my experience in banking operations, product development and strategy. Currently as the deputy manager performance management and strategy group responsible for business strategy, product innovation and performance measurement within the bank, hence, my understanding of technology has made it possible for me to meet and surpass my job responsibilities and have place the bank as one of the leading e-banks in the industry and country. As a graduate of, and chartered accountant, I have come to grasp with the fact that business and accounting

The figure 4-2 above shows the day to day banking methods that are preferred by customers of all ages. The diagram portrays that the most convenient and preferred way customers choose for their day to day banking activities is mobile banking. Nearly forty-eight percent of the customers use their mobiles for their daily transactions, example transfers, payments etc. Branch banking is the second method preferred by nearly thirty-two percent of the customers. Where online banking with nearly nineteen percent holds the third position atms are the least method customers prefer for their daily banking. None of the customers comment about telephone banking. These preferred methods actually focus the areas where banks should concentrate on providing good customer service. It is very obvious to target customers through their preferred banking methods. For example, in this above diagram it is clearly showing that mobile banking is the most preferred method and atm is the least preferred method and so a bank can earn more customers if it provides better customer service towards mobile banking than atms. Off course the

We have mention Branch and ATM network, Customer Service and Innovation as one of the key success factors for a bank, but all these will be unfruitful if there is no proper ICT platform to support them. To be able to take full advantage of the opportunities in the market and combat threats a bank must have an up to date strategically planned and implemented ICT infrastructure. In 2010 CRDB and NBC made entire bank systems upgrades, announcements were made on Radio, TV, Newspapers of the changes and their implication to the services offered. This is an example of organizations that have

The last time that technology had a major impact in helping banks service their customers was with the introduction of the Internet banking. Internet Banking helped give the customer's anytime access to their banks. Customer's could check out their account details, get their bank statements, perform transactions like transferring money to other accounts and pay their bills sitting in the comfort of their homes and offices. However the biggest limitation of Internet banking is the requirement of a PC with an Internet connection, not a big obstacle if we look at the US and the European countries, but definitely a big barrier if we consider most of the developing countries of Asia like China and