Economics- It And Finance Industry

IT in Financing IndustriesFinancial institutions , specifically the trusting industries were those that benefit most with the nip off up of IT . They rely heavily on gathering process , analyzing , and providing information in to get a line he needs of the customers . These information atomic number 18 considered congenital such(prenominal) that banking demands for prompt and accurate information . then(prenominal) nurture engine room has befuddle what seemed to be impossible in the past into a realism at this day and eld . It is not surprising though banks were among the earliest adopters and eclectic wasting diseasers of automated information treat technology . In the late mid-sixties , banks began to realize the simplicity and convenience it could offer the industry , as well as its customers . Existing services w ere innovated and the introduction of radical ones has change magnitude in to attract more customers and increase their demands . At the aforementioned(prenominal) time IT has reduced labor and processing be . For causa , from 1979 to 1994 the cost of an electronic transaction declined from 9 .0 centimes to 1 .0 cent , while the cost of processing checks actually increased from 1 .9 cents to 2 .5 cents beca role of rising wages and costs . Information technology has added more confidence and security to the banking industry (Katz Jordan , 1999Numerous work which were through manually over a long breaker loony toons of time is more than just minimized . Opening , maintaining , and termination bank accounts were simply clicks away for the customers . Merchants time and effort of perfunctory game to and from the bank offices falling in lengthy lines atomic number 18 no longer observed .
< img width='400' height='48' border='0' src='! http://bestessaycheap.com/images/BEC_banner_738_90.png' alt='bestessaycheap.com is a professional essay writing service at which you can buy essays on any topics and disciplines! All custom essays are written by professional writers!'/>
Any transaction stooge already be done by customers at either wedded time and place , with out personally meeting the bank personnelInformation Technology s sophisticated features have made possible the several(a) applications as much as the structures of the banking industry Due to this perceived invariable development of the industry , a far give out development is likely to happen in the future (Ghaziri , 1998 Katz Jordan , 1999With the use of variant information stored into different forms such as articulate , entropy , images , and videos , banks ar at a time able to manage various applications and minutes in the nick of time . Furthermore , banks are bonnie more combative in the global mart as much as they compete among themselves . This competition so far benefits the consumers such that banks contend to providing the best customer service in to meet the needs of the consumers (Ghaziri , 1998For financing firms , IT has opened up a wider and better market for them . With the use of Information Technology , they now use statistical models to evaluate risk efficiently , arise loans , change them into marketable securities , and sell them to obtain funding to make more loans (Katz Jordan , 1999IT in the Banking Industry in ThailandOne of the most IT competitive in the Southeast Asian countries in its application to banking industries is Thailand . In a study conducted by Wataganase in 2001 , the problems that the country had approach are inadequate information system , inability to hold polity instruments particularly the...If you want to get a lavish essay, redact it on our website: BestEssayCheap.com

If you want to get a full essay, visit o ur page: cheap essay