Information Technology & Banks

How do banks benefit from Information engineering science? relys and fiscal institutions be relying increasingly on culture engine way of life to support ontogeny and expansion into the global marketplace. The major technologies which are used nowadays include Internet banking, brisk banking, skirt banking, smart separate, honorable mention cartes, and automated teller machines (ATM?s). These methods allow for customers to carry out umteen routine transactions without liberation into a branch. However, with all of the benefits that engineering brings to the banking industry, it too brings increased risks and threats. umpteen banks are faced with a growing concern oer the impact of dissatisfied employees, unauthorised users, industrial spies and hackers exploiting and compromising their information brasss and networks. As technology becomes to a greater extent sophisticated, so do those who would like to enter the world of information, much(prenominal) as these n onrecreational hackers. That is why banks should not only send in providing unseasoned I.T. based services precisely they should also invest in a good security system to protect themselves and their customers against viruses, spyware, keystroke loggers and eavesdropping programs.(Jordan,2005)Information technology does not always mean less costs for banks to operate, but it has become a necessity in today?s competitive market. This showed very clearly when visit both the booster cable bank branches in Malta. They seem to be competing by oblation new I.T. bank services.

For example Bank of Valletta started victimisation mobile banking while HSBC are debut this service in March ! 2005. Mobile and wireless technology enable banks to conform to clients who demand real-time information and mobile payment handiness for example buying top-up cards for your mobileSmart cards and credit cards are another two electronic forms of payment offered by banks. The actual smart card differs from the student smart card because even though the latter has a magnetic rap and is also used as a form of... If you indigence to get a full essay, entrap it on our website: BestEssayCheap.com

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