Last updated on September 23rd, 2021 at 03:11 pm
Banking institutions use Information and Communication Technology in their everyday activities. This means that ICT is very useful in this sector.
ICT is very important in banking, as without it, cashiers and managers would have a lot of work. Imagine recording the information of thousands of clients by using a paper and a pen! The bank would need big rooms for keeping the clients’ files. Thanks to computers with their hard disks that store much information. Think about what would happen when a customer comes to save or withdraw money. The cashiers would spend much time searching for the files among piles of other files. Many workers would also be needed to help which would cost the bank owners to pay more salaries. Thanks to ICT as a user on a networked computer with banking software serves a lot.
Therefore, computers are used in banking to help in transactions such as electronic fund transfer, internet banking, and mobile banking. The use of Automated Teller Machine (ATM), database management, and cheque clearing are also made possible. With the help of computers and mobile telephones; customers are able to access and perform different activities on their bank accounts.