Saturday, February 20, 2010

Technological advances in banking sector

The oldest world bank - Banca Monte dei Paschi di Siena in Italy - dates back to 1472. By banks play an important role in our daily life for over 500 years, no wonder staple of society is one of the first places to experience technological change. As demand increases for safe banking, safe and fast, so does the drive to develop new features and software needed to manage it.

Now technology, modern banking allows to exist in four different settings. The first is the rise and rise of telephone banking. Introduced to the 80's, telephone banking allows customers to access and manage their accounts using the telephone or keyboard connected to a line of phones. "Bank" also refers to using a keypad to send tones to phone lines indicated that some changes made to the bank account of man.

The irascible telephone banking, Internet soon people with another way to manage their bank account. Introduced in 1994, the Internet banking services improved and developed and provided through the telephone line and allows customers to perform tasks such as transferring funds, investments, electronic bill payment and complete applications for other financial items such as mortgages and credit cards. This is when the number of Internet users banking online now exceeds 50%.

Technological advances not only extends the phone and phone however, as the cash machines (ATM) or cash kiosk, has undergone various changes as well. Invented in 1960, the ATM is now a regular feature in the street and offer an accessible environment and family to access funds for going about their daily business, or even on vacation and traveling abroad. Of particular interest is the development of highly advanced banking software that allows various ATMs controlled away from a financial institution, and technology that allows ATMs to another address 't languages, providing a pleasant machine in the world.

Although the most striking technological changes have been banking on the walls of similar financial institutions, there are other striking developments that experience with the help of employees and customers inside the bank themselves. Improved database and software packages for the average home can access the cash account many customers simultaneously. For people working in sectors or credit card debt, there are now software packages that help calculate the risk of lending and borrowing the time it ultimately provides a safe, secure and fast bank banking experience and future. "