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Essay On Information System In Banking Sector

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There are many business ventures that people engage in today. The banking sector is a very popular organization that is widespread all over the world. The bank is a financial organization that provides credits to its customers as well as allowing them to make cash deposits. Banks are believed to play a vital role in ensuring the financial stability of a nation. For this reason, most countries regulate the various functions in a bank. There are various payment services that are usually provided by a bank. The main services include borrowing, lending and cash transfers.
The growth in technology has led to the advent of computers which is one of the technologies that has been fully embraced by the banking sector. As the computers get more sophisticated by the day, so does the impact of using technology in banking. The use of information systems in business organizations have become very popular and most business sectors use the technology in large scale. The extensive usage of these information systems is linked to the improvement in most of the functions in a given business.
Information systems are widely used especially in the banking sector. This is because banks are in the service industry and they make use of a lot of …show more content…

Accounting information is important as it assists banks to make speculation on great business opportunities that are associated with giving credits (Beattie, Goordacre, & Thomas, 2006). The accounting information systems are usually used to critically analyze various areas of accounting in the bank sector. This is normally used to determine the income and the expenditure budget of a bank. This is a great bank indicator of either the profits or losses made. The accounting systems allow accurate evaluation of bank activities which can assist in determining what bank services should be made a

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