THE ADVANTAGES OF BANK AUTOMATION SYSTEM
During the past decades in most parts of the world clients of most financial institution would need to fall in line to reach the customer service representatives such as banks, lending companies, cooperatives etc. in order to make transaction. they would need to seek the help of tellers or human clerk. This process usually takes time which usually delayed the customers desire to process their transactions because of the manual process and transaction, counting money, checking balance and other item etc. because of this needs most banks has thought about of ways or how they can limit the time they spend to their customers in waiting in order to fulfill their customer’s needs.
Finally during 1967 Barclay Bank in United Kingdom, introduce the first ever automated banking system in their Einfield branch invented by John Shepherd Barron. In order to serve the customer effectively in less time, the Automated Teller Machine (ATM) looks like a giant metallic box that has a computer generated machines and has a hole in its wall, customers would need to register by inserting a thin plastic stripe magnetic card that will identify them. This card contains different security features in order to secure the customers confidentiality. This Automated Teller Machine has become a highly popular machine in most banks all around the world.
Using this automated system most banks have served their customers well without the needs to fall in line in a teller or customer service representatives to conduct their transaction, they can easily withdraw cash and inquire about their balance using this automated system. In today’s most modern technology banking automation also include in ATM machines to transfer their balance from other customers, they can even pay their bills using this card. Visa Card and Mastercard, Megalink and BancNet, Cirrus and Maestro has become the most popular automated network where the automation of their transaction has become more effective that even in any part of the country or in any part of the world where there is a machine of this type can handle such transaction.
This means that the convenience of any transaction such as deposit, transfer of fund, withdrawal and payment system is easy as a click of a button using this machine. Banks have further developed their system using Credit Card automation where customers can borrow money using such card. It can also be used for payment in any other institutions such as restaurant, movie houses, shopping and dining. Credit card has become a fashion for people who simply do not want to bring cash or if there is immediate needs. Bank Automation using ATM and Credit Card has become a very interesting and efficient service provider for both the customers and a bank.
The integration of the internet and communication system has further enhanced the banking automation system where customers can also use the power of the internet in order to conduct most of their transaction and to check their balances. They can also make transaction using their telephone or cellphone to make it easier for them during their travel. The advantages of this automation create a very powerful interconnected network of transaction processes and most efficient, reliable services of banking process in the industry. The ATM Banking, Telephone automation and Online Integration and Credit Card automation has a user friendly interface and convenience in processing to most customers, this system particularly the online system also includes availability of instants information if ever needed.
Most importantly customers can save their time and money so they find no need to travel or wait to fall in line in the branch in order to be served. This automated banking system has been used by institution and industry in order to sell and pay their merchandise, customers and employees even an ordinary customer can participate in business development using this automated system. A certain individual can sell and accept payment on the internet using the banking system provided by most banks. The integration of popular payment system such as Clickbank, Paypal, Alertpay and other virtual payment system has bridge the gap in most parts of the world in order to securely process a safe and effective transaction which is definitely has become an integral part of the business conduits acting like a middle man.
Sometimes there are hackers and unscrupulous people who tried to hack this system in order to control transaction and steal money from other people. This automation process somehow replaces the human to work that has become the disadvantage for most bank employees but not to the bank. Security threats and vulnerability is only limited to intelligent mind. In overall process this bank automation system creates productivity to most companies and institutions most importantly to the bank. This has become a major contributing factor, a secret weapon of most banks that create a greater impact in the economic development of most countries.
Credit:ivythesis.typepad.com
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