Essay on uses of computer in banks


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It is like a very modern and highly complex calculator.

What are the advantages of using a computer?

It can do all the functions at a speedy rate and also helps us to search and progress in our homes and businesses. A computer can therefore be called a calculator with a twist for not only does it perform fast calculations, but it also has other special characteristics.

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The computer has thoroughly changed the way we witness things, with its special auto correcting tools, which work with all languages, all logic and all subjects. There was a time when computers were only heard of as a luxury. However today they are an unavoidable part of success and development.

No longer are they owned only through theft and by the filthy rich, in fact computers are and will in the coming days and months be used to accomplish the brilliant goals of success and unparalleled development. For example, in India, the accurate knowledge and use of computers will bring change in a big and astonishing way. It will lead to the demolition of illiteracy, and lead to optimism, efficiency, productivity and high quality.

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Even now in our day to day lives, computers have been allotted an integral role to play. They can be seen being used not only at the office or at home, but in all kinds of sectors and businesses. They are used at airports, restaurants, railway stations, banks etc.

They are also used in the government sectors, businesses and industry, and through witnessing the rapid progress of the computer; mankind slowly sees the lights it has brought along. One of the best things about the computer is the fact that it can help us to save so much of manual power, cost, and time.

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By the use of a computer, tasks can be done automatically and that will lead to saving the countless hours that may otherwise have been spent on doing the job manually. Computers also ensure more accuracy. Examples of such cases include ticket booking, payment of bills, insurance and shopping. Interestingly, automatic operations of vehicles, like trains also help to ensure further safety and reliability of the journey.

Computers can be used to observe and predict traffic patterns which would be a grand benefit to all and would save the hassle of getting stuck for hours in the roadblocks and traffics. Banking software is enterprise software that is used by the banking industry to provide and manage the financial products they provide. Within retail banks , banking software typically refers to core banking software and all its interfaces that allows them to connect to other modular software and to the interbank networks.

Within investment banking , banking software typically refer to the trading software used to access capital markets.

Commercial or retail banks use what is known as core banking software which record and manage the transactions made by the banks' customers to their accounts. For example, it allows a customer to go to any branch of the bank and do its banking from there. In essence, it frees the customer from their home branch and enables them to do banking anywhere. Banking software is used by millions of users across hundreds or thousands of branches.


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This means that the software must be managed on many machines even in a small bank. The core banking system is a major investment for a retail banks and maintaining and managing the system can represent a large part of the cost of running a bank. Investment banks use software to manage their trading desks and their clients accountants. These systems often connect to financial markets such as securities exchanges or third party providers of such as Financial data vendors.

For example, a company such as Bloomberg is financial software, news, and data company that offers financial software tools such as analytics and equity trading platform to financial companies around the world through the Bloomberg Terminal. Another example is Reuters whose products specialize in financial information management , purchase order management, positions and risks, and financial instrument sales.

What are the advantages of using a computer?

These types of companies provides solutions for control and overall productivity for corporate treasury, improved workflow , central banking, bank treasury, Forex trading and global back-office operations. Examples of these back-office tasks include IT departments that keep the phones and computers running operations architecture , accounting, and human resources customer relations and sales and marketing where they come in contact with their customers.

With the help of these software companies, there is efficiency and proper management of transactions both in the front and back offices of the banking firms and other financial institutions. From Wikipedia, the free encyclopedia.

essay on uses of computer in banks Essay on uses of computer in banks
essay on uses of computer in banks Essay on uses of computer in banks
essay on uses of computer in banks Essay on uses of computer in banks
essay on uses of computer in banks Essay on uses of computer in banks
essay on uses of computer in banks Essay on uses of computer in banks
essay on uses of computer in banks Essay on uses of computer in banks

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