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Computers in the banking sector have enhanced customer service and productivity regarding account management, while streamlining backoffice activities.
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The advantages accruing from computerization are three-directional - to the customer, to the bank and to the employee.
Self-inquiry facility: Facility for logging into specified
self-inquiry terminals at the branch to inquire and view the transactions in the account. Remote banking: Remote terminals at the customer site connected to the respective branch through a modem, enabling the customer to make inquiries regarding his accounts, on-line, without having to move from his office. Anytime banking- Anywhere banking: Networking of computerized branches inter-city and intra-city, will permit customers of these branches, when interconnected, to transact from any of these branches Telebanking: A 24-hour service through which inquiries regarding balances and transactions in the account can be made over the phone.
Availability of a wide range of inquiry facilities, assisting
the bank in business development and follow-up. Immediate replies to customer queries without reference to ledger-keeper as terminals are provided to Managers and Chief Managers. Automatic and prompt carrying out of standing instructions on due date and generation of reports. Generation of various MIS reports and periodical returns on due dates. Fast and up-to-date information transfer enabling speedier decisions, by interconnecting computerized branches and controlling offices.
Accurate computing of cumbersome and time-
consuming jobs such as balancing and interest calculations on due dates. Automatic printing of covering schedules, deposit receipts, pass book / pass sheet, freeing the staff from performing these time-consuming jobs, and enabling them to give more attention to the needs of the customer. Signature retrieval facility, assisting in verification of transactions, sitting at their own terminal. Avoidance of duplication of entries due to existence of single-point data entry. amitweb007@gmail.com
Technology Current Use Infrastructure: PC Networks: Tellers 48% Sales Tracking Software 44% Relational Data Base 36% Automate Credit Scoring 8% E-mail 60% Equipment Management 33% Software Imaging Checks / Statements 12% Imaging Documents 7% Delivery Systems: Internet Banking Home Page 3% Internet Electronic Office 1%
use in next 3 years 80% 80% 76% 48% 95% 57% 72% 45% 25% 15%
Personal Banking
Online Banking Mobile Banking
PC banking refers to a person being able to access their banking information from a "personal computer." It has become a popular method for people to manage money and pay bills using online servers to log in to their account and pay bills, transfer money between accounts and reconcile check ledgers.
ATM: Automated Teller Machines (ATM) are computerized machines that allow customers to conduct basic banking transactions without an attendant or bank teller.
ATM Processing is similar to credit card processing, except with ATM Machines the processing center uses ATM networks instead of credit networks. To begin with, we will have to program or re-programmed your ATM machine with a TID (terminal ID number) assigned to your ATM at location . This is the number that identifies your ATM machine on our ATM processing system Before a transaction can be processed, the ATM machines must receive authorization from the customer's native bank, such as confirmation that the customer has sufficient funds in his account to permit cash withdrawal. Interbank networks allow this amitweb007@gmail.com authorization process to take place in seconds.
Transactional:-
Bill payments and wire transfers to third parties, Fund transfer between customer's transactional and savings
account, Sale and purchase of investments, Applications and transactions for loans and enrollment repayments.
Non-Transactional:
Analyzing recent transactions, Downloading bank statements, Viewing paid cheques. Financial Institution Administration Transaction approval process
Online banking enables bank customers to handle account management and perform account transactions directly with the bank through the internet. This is also known as internet banking.
Customers are able to access to all of their accounts
through an internet connection using the banks own website or a commercial software package such as Quicken or Money. Clients can transfer funds to their bank accounts, and pay bills either electronically (with an account transfer) or by having the bank issue paper checks directly to the payee.
Personal financial management support -
Importing data to personal accounts software. Supporting account aggregation which allows the customers to manage all of their accounts in one place irrespective of their location.
Mobile Banking refers to provision and availment of banking- and financial services with the help of mobile telecommunication devices . The scope of offered services may include facilities to conduct bank and stock market transactions, to administer accounts and to access customised information. OR Mobile banking through cell phone is really catching up. Now you can access your account, transfer funds or make payments with your mobile. Mobile connectivity is vast and this makes mobile banking very successful.
Benefits Of Mobile Banking: In case of online banking, you must have an internet
connection and a computer. However, with mobile banking, connectivity is not a problem. You can find mobile connectivity in the remotest of places also where having an internet connection is a problem. Mobile banking thorough cell phone is user friendly. The interface is also very simple. You just need to follow the instructions to make the transaction. It also saves the record of any transactions made. Cell phone banking is cost effective. Various banks provide this facility at a lower cost as compared to banking by self. Banking through mobile reduces the risk of fraud. You will get an SMS whenever there is an activity in your account. This includes deposits, cash withdrawals, funds transfer etc. You will get a notice as soon as any amount is deducted or amitweb007@gmail.com deposited in your account.
Banking through cell phone benefits the banks too. It cuts
down on the cost of telebanking and is more economical. Mobile banking through cell phone is very advantageous to the banks as it serves as a guide in order to help the banks improve their customer care services. Banks can be in touch with their clients with mobile banking. Banks can also promote and sell their products and services like credit cards, loans etc. to a specific group of customers. Various banking services like Account Balance Enquiry , Credit/Debit Alerts, Bill Payment Alerts, Transaction History, Fund Transfer Facilities, Minimum Balance Alerts etc. can be accessed from your mobile. You can transfer money instantly to another account in the same bank using mobile banking. You can make transactions or pay bills anytime. It saves a lot of time.
In present time IT play vital role in banking. Without computers, it would be very hard for a bank to offer good customer service day in and day out. Computers help a bank save time and money, and can be used as an aid to generate profits.

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amitweb007@gmail.

Self-inquiry facility: Facility for logging into specified

Availability of a wide range of inquiry facilities, assisting

Accurate computing of cumbersome and time-

Customers are able to access to all of their accounts

Personal financial management support -

Banking through cell phone benefits the banks too. It cuts

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