why do banks use computers?

Answer 1

It is a more efficient and faster way for them to react to a global economy. It also reduces their costs.

Answer 2

If this is a serious question I have a serious answer. Here's the thing at the bank I work for we have thousands of customers. If everytime someone came in I had to look up there information by going through paperwork I would only be able to help a small amount of people daily. Also if someone withdraws money from their account at a bank other then the one I am at then how exactly would we be notified in order to not give out money that the customer does not have. Also if you were to open a new account it would take at least a week in order for you to be able to use that account because the information would have to be able to arrive at all of the branches. There are so many reasons but these are just a few. It saves space, makes for a quicker transaction, and is much easier to verify information.

Answer 3

Using computers to process large amounts of information (banks would have enormous amounts of information) is a much quicker (saves time) and efficient (reduces mistakes) process. Information can be processed hundreds of times faster than manual processing of bank paperwork. Using computers in banks also has downsides, some of which include making workforce redundant, that is, replacing people's jobs with machines. And since machine's don't require penalty rates, leave rates, sick leave, etc. They are more cost-effective for the company, and in today's world, everyone is looking to save money.

Answer 4

Surely this is a rhetorical question?

If not the answer is obvious really, IT makes it a lots easier to manage all the diffrent aspects of a bank from the branches, to ATM's to the head offices. The same as any company really.

Answer 5

Would you want to keep track of hundreds of millions of transactions per day by hand? A bunch of accountants bent over ledger books in some windowless room? Seriously, it makes things cheaper and much more efficient to use a computer, and reduces the rate of errors.

Answer 6

In today's world that is kind of like asking why cars use wheels.

It would be impossible to offer all the services with branches and ATM's without computers.

Answer 7

ok, imagine you go up to a bank, and want your account's balance. would you prefer for them to cross check every document to check your balance, or would you prefer just a query to give you the balance?

Answer 8

So that they can communicate and quickly store the time ,details ,etc. during transactions or loans of money .

Answer 9

So that they can communicate with eachother all over the world. In the days when we had passbooks, it would be harder to detect fraud.

Answer 10

The better to count and transfer your money with.