When customers hold their money in banks, they expect to have them available when required. Most of the business firms communicate with each other with the help of e-mails. Sub-topic: A Brief Examination of the Evolution of Information Technology, and Some Uses and Misuses. For long term savings, an online bank is the winner hands down. If the branch is located in a major metropolitan area such as New York, Chicago or Paris, operating it is even more costly. To some people it means complicated electronic devices. They can do it for information purposes whereby the bank can disseminate information about its products over the internet. Having music, a camera, GPS, phone and mini laptop all in one device is handy. Technology are so many advantages that healthcare uses all this technology to revolutionize the healthcare industry. However, security is still a concern with traditional banking. GLOBALISATION Motivation For most people, two accounts is now the necessity. Filed under: Banking,Investing and Saving |. Advantages And Disadvantages Of Internet Banking Information Technology Essay. In modern times, telecommunications involves the use of electrical devices such as the telegraph, telephone, and teleprinter, as well as the use of radio and microwave communications, as well as fiber optics and their associated electronics, plus the use of the orbiting satellites and the Internet. Today, most companies store digital versions of documents on servers and storage devices. This would happen without the customer stepping into the bank’s hall. A revolution in wireless telecommunications began in the 1900s (decade) with pioneering developments in wireless radio communications by Nikola Tesla and Guglielmo Marconi. Furthermore, banks have higher interest rates on savings accounts and certificates of deposit, and offer more financial services and products. The ultimate in convenience: When you use online banking you can conduct your transactions from the comfort and privacy of your own home, so you won’t have to worry about going out to your local branch, spending time queuing up, and trying to fit your banking commitments into your busy day, which can be particularly difficult for those that work full time. Sales and marketing JOB... ...ADVANTAGES AND DISADVANTAGES OF INFORMATION TECHNOLOGY: However, when you opt for online banking you can conduct transactions at any time of the day or night, which means that you can effectively manage your account around the clock. Conducting your banking over the Internet can be you at a significant risk of scams and fraud. 24 hour access to your account: With online banking you can access your account 24 hours a day, conducting transactions such as making bill payments, checking your balance and statements, setting up or cancelling direct debits and standing orders, and more. Keep just enough in a brick and mortar account to utilize it conveniently, and keep the substantial savings at an online bank to earn more in interest. Free resources to assist you with your university studies! Other threats associated with online banking include phishing and hacking of online accounts. Another amazing thing about the internet is the communication that it makes possible. The migration process exists because the brand has a value; otherwise, it would not need to migrate. [2] The term is commonly used as a synonym for computers and computer networks, but it also encompasses other information distribution technologies such as television and telephones. But the advantages and disadvantages of technology should be considered in mind. Despite increased security measures and the availability of anti-virus and anti-spyware programs, identity theft is still a concern. However, they have not cooperated before, which increases the possibility of opportunistic nature. The most obvious contribution online banking has brought to the banking industry is the reduction of overheads that would have otherwise been incurred particularly in relation to the staff and advertising and others services like information technology as no special software is needed (wikipedia 2007[online]). Even if they are out of the country, customers who bank online can access their accounts at any time with ease. Dell’s core PC business was organized along the lines of a traditional value chain. Registered Data Controller No: Z1821391. The savings realized by eliminating unnecessary branch locations can be passed on to the bank’s customers in the form of a higher interest rate. Communication Other highly notable pioneering inventors and developers in the field of electrical and electronic telecommunications include Charles Wheatstone and Samuel Morse (telegraph), Alexander Graham Bell (telephone), Edwin Armstrong, and Lee de Forest (radio), as well as John Logie Baird and Philo Farnsworth (television). No plagiarism, guaranteed! In Indian IT service industry, large multinational organisations tend to care less for the waste in their operations for a simple reason that their revenue is humongous.

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