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Information & Technology in Banking

Information & Technology in Banking

In the age of digital media, technical professionals are required in all fields of work. Each field of career has a technical team with software engineers and web designers as all endeavours have a digital presence now. Websites and smartphone applications are part of each business module. But reaching this point in their career for an engineer is an expedition. Aspiring engineers are required to crack JEE main exam. If a candidate wishes to pursue their engineering degree from one of the Indian Institute of Technology (IIT), they’re also required to write the JEE advanced exam.

One of the biggest fields transitioning from the traditional methods and embracing the digital era is banking. Challans cheque and passbooks are being replaced by net-banking smartphone application which are does all banking transaction in virtual money and ATMs which have been around for a while. With the advancement in the banking technology, Banks now need engineers and technical professionals. Banking technology has reduced the number of daily walk-in customers which improves the customer service as each customer can be concentratedly served. As a lot of banking is happening in the virtual atmosphere, engineers can write bank exams like IBPS Specialist Officer Exam. This exam is for engineers who wish to work for the Information & Technology (IT) department of public bank as an IT officer. There are 120 seats for IT officers with IBPS SO exam. Manipal University Jaipur Courses are modeled to provide engineers with the knowledge and learning.

The responsibilities of an IT officer are dealt with the maintenance and support of data center. The data center is the main banking where data and core banking applications information is saved. Some of the responsibilities of an IT officer are to maintain and ensure the smooth functioning of the listed below sections:

  • Data Centre
  • Banking Software being used by clerks, tellers etc
  • Automated Teller Machine (ATM)
  • Security and surveillance cameras

IT officers also work banking software like Finacle, FLEXCUBE, Bancs, SAP, etc. but also work with hardware. They’re also responsible for modifications in software, testing and evaluating technology in banking, safety and security. These banking technologies are very helpful, efficient and easy banking. Here are a few advantages of Banking Technology:

Convenience: This is one of the biggest advantages of online banking technology. It is accessible from anywhere in the world at any given time. Any transactions can be made or previewed with a computer or a smartphone with internet access. Also, this replaces the banking hours and making banking accessible to people 24/7.

Faster Transactions: Online banking processes most transactions instantly. For example,This can be to pay money to a certain bank account or pay an e-commerce site with your debit/credit card. This also means entrepreneurs and small businesses can make payments to their contractors or accept payments from their clientele almost immediately. This is also helpful in paying bills and other quick transactions.

Working with accounting software: Many small business use accounting software and nowadays a lot of businesses let their customers with small business attach their bank accounts to the accounting software.

Safety:Online banking has optimum security as it has a security wall before making any payments. To access a bank account, user login is required with a passport, fingerprint, or facial recognition making online banking very safe.


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