Information Technology in Banking and Financial Institutions

Banks and financial institutions be relying increasingly on info engineer to support growth and expansion into the global marketplace. The major technologies which ar used nowadays include Internet pious platitudeing, cursorily bounding, think banking, smart cards, credit cards, and automated teller machines (ATM?s). These methods go out customers to strain out many routine transactions without overtaking into a branch. However, with all of the benefits that engine room brings to the banking industry, it also brings increased risks and threats. many a(prenominal) banks are faced with a growing concern over the uphold of dissatisfied employees, unauthorized users, industrial spies and hackers exploiting and compromising their information systems and networks. As technology proceeds more sophisticated, so do those who would like to reckon the world of information, such as these professional hackers. That is why banks should non only invest in providing advanced I.T. ground go but they should also invest in a strong security system to protect themselves and their customers against viruses, spyware, keystroke loggers and eavesdropping programs. Information technology does non always mean fewer costs for banks to operate, but it has take a necessity in today?s unpeaceful market. This showed very clearly when visiting both the leading bank branches in Malta. They seem to be competing by offering newfangled I.T. bank services.

For representative Bank of Valletta started using prompt banking while HSBC are launching this service in marching music music 2005. Mobile and wireless technology enable banks to quit clients who expect real-tim e information and energetic payment availab! leness for example buying top-up cards for your mobile. To access mobile banking you result motivation a WAP-enabled mobile phone. Through a mobile phone, an idiosyncratic can access his or her account information, pitch transfers to 3rd parties, request banking services as well as former(a) information and pay bills. There may be rate when it... If you want to get a full essay, order it on our website: OrderEssay.net

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