2007-01-03 15:28:16 · 2 answers · asked by hollandchua 3 in Education & Reference ➔ Homework Help
If I understand your question the answer is quite simple...1.5 million less wrokers required to handle all the manual paperwork...
2007-01-03 15:36:18 · answer #1 · answered by Mr. Smoothie, aka Mr. SmartAss 6 · 0⤊ 0⤋
Information technology and computers have had a profound effect on banking. Especially if we include commercial, investment, and brokerage aspects of banking. This includes:
- Connecting all branches and banks around the world. This allowed people to back at any branch, bank, or ATM.
- Speed of transactions has increased.
- Accuracy has increased and errors reduced.
- Made the banking process more affordable by reducing transaction costs.
- Allowed more precise pricing of investments such as bonds and stocks.
- Provided effective ways to price options and other complicated instruments.
- Made record retention and access very easy.
- Allowed home and remote banking with computer or phone.
- Increased the liquidity of the markets and money.
Can go on and on...
2007-01-03 15:50:57 · answer #2 · answered by K2 2 · 0⤊ 0⤋