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Question

What are the uses of computer in banks?


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Solution

Answer:

In the banking sector, use of computers are

  • In banks, computers are used for keeping account information of customer accounts.
  • Banks use technology to carry out payments effectively and successfully.
  • Computers help bankers keep a record of and verify financial records much quicker.
  • In today’s world, ATMs are seen almost on every lane, which would be a machine itself that enables customers to save time.
  • Online banking is also one way for individuals to make purchases at any time or display their balance.

Additional knowledge

Types of Computer-Based on Types

The three types of computers along with their functions are given below:

  • Analog Computer – An analogue computer is one that models a problem by using the constantly changing characteristics of physical processes. These phenomena can be electrical, mechanical, or hydraulic in nature, and their application is highly difficult. Scientific and industrial applications are the most common uses for such computers. Thermometers, Operational Amplifiers, Electric Integrators, and other analogue computers are examples.
  • Digital Computer – Such computers are capable of solving problems in discrete format. It only operates on data entered in binary language and can perform the dynamic function of managing large amounts of data and regulating the operations of the machine, Examples of Digital computers are desktops, laptops, Mobile Phones, etc.
  • Hybrid Computer – Computers that exhibit features of both Analog and Digital computers are called Hybrid Computers. The logical operations are solved by the digital aspects, and the differential equations are solved using analog features. Few important examples of Hybrid Computers include Space Flights, Food processing plants, etc.

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