Recent technology disruption has been knocking at the banking industry much more than before.

 Banks and other financial institution are heavy users of computers in maintaining customer’s accounts, ledger, updating, electronic fund transfer and processing of huge amount of cheques, credit cards, and the major transactions that takes place daily.

The up coming Automatic Teller Machines (ATM) already installed by most banks are the most visible symbols of computer in the banking sector in Nigeria.

They are of course everywhere in Europe, America and Asia. The Automatic Teller Machine (ATM) enable bank customer to withdraw, recharge phones, transfer funds from their various accounts even when the bank is closed physically.

Each transaction made, the customer’s record is updated and he or she is provided with a print out or notification. 

However the use of computer in the banking sector can be an efficient tool in speeding up the process and reducing the cost of producing and undertaking figure works.

More effective control procedure in computerized system can bring about sales budgeting and credit control.

Many credit cards, smart cards, master cards can also be used to withdraw money at 12/15 an ATM and the online banking against the credit limit extended to the card.

Customers keep their money in the bank safely and it is paid out when needed by means of cheques and other ways.

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