Essentials of Bank Computerisation | PAPER II – PRINCIPLES & PRACTICES OF BANKING | MODULE C: BANKING TECHNOLOGY
Bank Computerisation and Technologies Bank Computerisation and Related Technologies 1. Essentials of Bank Computerisation Bank computerisation refers to the process of implementing IT infrastructure to improve banking services. Essential components include hardware, software, networking, databases, and human resource training. The goal is to reduce manual work, speed up transactions, enhance accuracy, and enable multi-branch operations. Example: Instead of manually entering ledger entries, a teller inputs data into a terminal, which is then instantly stored and updated across the bank’s systems. 2. Bank Computerisation This involves using digital tools and automation in all banking operations like customer service, internal operations, compliance, reporting, etc. Key stages include branch automation, networking, and implementation of core banking solutions (CBS). 3. Networking Technologies in Banks Modern banks use net...