T24 core banking and computers

Posted by Lisa Williams on June 27th, 2019

Core banking doesn't need an introduction. It has impacted the banking sector in such a way that it is currently highly demanded. While technology is evolving with time, let's take a look at how computers are making things happen in the banking sector.

The bank is an organization that abides by all the laws that have been set by the constitution and the government, while enabling citizens to carry out financial transactions. The financial establishments are responsible for cash transactions and for providing banking services to the people of the nation. In the very beginning, the term computer was used in banks for those who did mathematical calculations all by themselves. Slowly and steadily things evolved, pencils were replaced by pens and humans were replaced by machines.

Managing accounts and the details of various parties became easy and convenient with time. The old process of turning through the pages to find customer information was not only troublesome but also hectic. The introduction of computers in the banking sector helped them serve customers in a seamless and better manner. Gradually, the long queues started to decline as computers were assisting bank officials in the process.

Modernization with software like T24 core banking has led to unique innovation in a short span of time. Various banking institutions make use of core banking solutions to assist their staff members. Due to core banking, all the branches of a bank have got linked to one another. This allows the customer to perform banking activities without having to physically visit the bank.

Web services like net banking, opening or closing an account via online portals and applying for loans without being physically present, are some of the features that became possible due to computers. 24X7 availability with no requirement of human presence are some of its best features.

Computers helped banking sectors provide a rich overall experience. The traditional process of handling bank records was replaced with a faster and more reliable method. Core banking, just like computers, is also a man-made innovation. It is highly reliable and safe since there is very little human involvement and the chances for corruption are low. Various banking institutions are using t24 core banking to serve customers better.