How Will L Relate Science To Banking

Banking has become a science over the last decade. Previously, it was not so. Although there were numerous maths applications for calculations on deposits and general book keeping. However with the advent of E-banking or electronic banking, teller machines, Debit and credit cards, and internet banking, banking has more or less become a sophisticated part of science. Here computers and microelectronic chips are incorporated in every machine to identify and track various operations. Networking is used extensively to keep track and update transactions being carried out at different parts of the world using teller and credit cards.
The demand of current day banking is Electronic Banking. For consumers, it means the luxury of 24-hour access to cash through automated teller machines (ATM) or direct deposit of pay checks into checking or savings accounts. Similarly, electronic fund transfer (EFT), uses computers and sophisticated electronic technology in place of paper transactions such as checks. More so, today banking has become much safer with zero-liability fraud protection for all electronic transactions which is promised by most institutions.

Add Comment

Report