It In Finance Sector
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IT IN FINANCE SECTOR Syndicate VI
1
INFORMATION TECHNOLOGY
I.T. popularized in 1980.
Use of technology to enhance the speed and the efficiency.
Dependency of Financial institutions on I.T.
2
FINANCE
The science of the management of money and other assets.
The management of money, banking, investments, and credit.
Finances Monetary resources; funds, especially those of a government or corporate body.
The supplying of funds or capital. 3
BANKING “We need Banking, do we really need Banks”
Bill Gates
4
ELECTRONIC CLEARING SERVICE
This helps the companies making heavy payment disburse directly into bank account .
Prompt payment on due date.
Cash management becomes easy.
Elimination of fraudulent encashment.
Safe, secure & efficient. 5
ATM
ATM is an electronic computerized telecommunications.
Bank customers use secure method of communication to access their bank accounts.
Without human bank teller.
ATM is a intra-bank connected network. 6
ELECTRONIC FUND TRANSFER
In EFT electronic payment and collections can easily be made.
EFT is safe, secure, efficient.
It is less expensive than paper cheque payments and collections.
7
TELEBANKING
Telebanking is a service which makes banking easy from any touchtone telephone.
Customers obtain various information about their account. 8
IMPACT ON MARKET
Computer reservation service.
Shares and Stock transaction
Online billing
Smart card
IT helps for accounting and auditing.
9
CONCLUSION
IT are creating new opportunities and new challenges for regulated financial intermediaries.
Those can adapt quickly and rapidly changing environment of e-commerce may survive and prosper.
Competitors from outside the traditional financial services industries are designing systems & try to eliminate the role of financial institutions.
10
11
12
1
INFORMATION TECHNOLOGY
I.T. popularized in 1980.
Use of technology to enhance the speed and the efficiency.
Dependency of Financial institutions on I.T.
2
FINANCE
The science of the management of money and other assets.
The management of money, banking, investments, and credit.
Finances Monetary resources; funds, especially those of a government or corporate body.
The supplying of funds or capital. 3
BANKING “We need Banking, do we really need Banks”
Bill Gates
4
ELECTRONIC CLEARING SERVICE
This helps the companies making heavy payment disburse directly into bank account .
Prompt payment on due date.
Cash management becomes easy.
Elimination of fraudulent encashment.
Safe, secure & efficient. 5
ATM
ATM is an electronic computerized telecommunications.
Bank customers use secure method of communication to access their bank accounts.
Without human bank teller.
ATM is a intra-bank connected network. 6
ELECTRONIC FUND TRANSFER
In EFT electronic payment and collections can easily be made.
EFT is safe, secure, efficient.
It is less expensive than paper cheque payments and collections.
7
TELEBANKING
Telebanking is a service which makes banking easy from any touchtone telephone.
Customers obtain various information about their account. 8
IMPACT ON MARKET
Computer reservation service.
Shares and Stock transaction
Online billing
Smart card
IT helps for accounting and auditing.
9
CONCLUSION
IT are creating new opportunities and new challenges for regulated financial intermediaries.
Those can adapt quickly and rapidly changing environment of e-commerce may survive and prosper.
Competitors from outside the traditional financial services industries are designing systems & try to eliminate the role of financial institutions.
10
11
12
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