For over a decade, the rapid growth in information and connection technology features significantly afflicted the banking industry. The banking sector has appreciated the use of technology to provide its customer's faster and to do more with less. Emerging systems have changed the bank industry coming from paper and branch structured banks to " digitized and network banking servicesвЂќ. Unlike prior to, broadband internet is affordable and it makes the transfer of data easy and 1st. Technology has changed the accounting and management system of all banking companies. And it is at this point changing the way how banks are delivering services for their customers. Nevertheless this technology comes at an expense, implementing all of this technology have been expensive nevertheless the rewards are limitless. The banking sector was one of the initial to take hold of rapid globalization and benefit significantly coming from IT creation. The technological revolution in banking started in the 1955s, with the installation of the initial automated bookkeeping machines at banks. It was well before the other industrial sectors became THAT savvy. Yet , in Bangladesh the trend started in 1990s.
A good number of technology driven solutions are provided to the customers by Private Commercial Banks (PCBs), Foreign Business Banks (FCBs)and Nationalized Commercial Banks (NCBs). The FCBs operating in Bangladesh like Common Chartered Traditional bank and HSBCare the innovators to introduce technology driven banking services. Thesebanks give services just like ATM, charge card, credit card, Point of Sale (POS)services, internet banking, phone banking, any branch banking, ElectronicFund Transfer (EFT). Along with these providers Standard Chartered Bank isproviding KIOSK service to its customers. Among the community banks, the PCBs will be ahead of the NCBs in providingtechnology driven financial services. A small number of technology drivenservices will be being given by the exclusive Islamic banks in Bangladesh. For sending foreign remittance NCBs and a few PCBs are working collaboratively with mobile phone service operators.
Application of computer centered services in Bangladesh:
Electronic digital Fund Transfer (EFT), SWIFT and MICR cheque will be being provided by all the banking companies. All the financial institutions except Uttara Bank happen to be providing any kind of branch bank to the consumers. All financial institutions have charge card facilities for their customers except Citi Bank MHH. First Reliability Islami Traditional bank Limited, Uttara Bank Limited and Citi Bank MHH have no very own ATM booth. First Protection Islami BankLimited is going to establish their own CREDIT booth. They have selected the palce for 100 ATM booth and expect to kick off within very short feasible time.
Number 1 reveals the percentage of banks offering different technology driven providers.
Table1: Ranking of services
Percentage of Banks rendering the services
Electronic Fund Transfer (EFT), SWIFT, MICR cheque
Charge card and Any part banking
Point of Sale (POS)
TEXT MESSAGE service
cont. of Stand 1
on the lookout for.
Open on-line Letter of Credit
Applications of computer in various type of banking:
1 . Personal banking:
Personal banking identifies a person being able to access their particular banking information from a " personal computerвЂќ. It is now a popular way for people to control money pay bills applying online computers to log in to their account and pay charges, transfer cash between accounts and overcome cheque ledgers.
Invoice payments & wire moves to third get-togethers.
Fund copy between client's transactional & savings account. Sale & acquiring investments.
Analyzing recent transactions.
e. g.: ATM(AUTOMATED TELLER MACHINE)
installment payments on your Internet Financial:
E-banking, or electronic financial, refers to all types of banking...