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  1. 1.  Information technology is crucial tobanking sector. Its primary function to take action andmake recommendations on applicationwith respect to individual customers. IT applications used in banking sectorare as follows.......
  2. 2.  It enables customers to view their bankonline. The consumer banking solution is also acomprehensive application which is relatedto the web based account and paymentmanagement system. Corporate banking solution is a web basedcash management system and globalpayment system that allows financialinstitutions and their customers to managecash positions & manage payments
  3. 3.  EFT provides fast, efficient, and successfultransaction chain system that enablesclient to collect, process, and depositelectronic and paper based transactiononline. This ensure rotations over network moreaccurately, securely and quickly amongseveral business communities andconsumers.
  4. 4.  Every type of business small or bigexchanges its traditional paper-basedpayment and billing with electronicprocess so that money can betransacted quickly. In EFT, the payment gateway is designedto combine services for a complete andquick money transaction by using eithercredit card or smart card or third partysuch as PAYPAL. It is surveyed that payer & beneficiariestransact about 10-40% of retail paymentthrough EFT tools and channels.
  5. 5.  Intra Bank Fund Transfer Inter-bank electronic Fund Transfer Internet based payment systems
  6. 6.  Account-to-account transfer of servicefor account holders. It facilitates cash management andeffective payment systems. Rotates one time or recurring moneytransactions among customers of variousorganisations or institutions which are inthe same domain.
  7. 7.  Routine transfer of funds betweenaccounts of different financialorganisations. It involves repetitive payment at highlevel, such as direct credit for the transferof wages and recurring bill payments byelectronic cheque or cardless POS(Pointof Sales/Service).
  8. 8.  Customers uses a bank card or debitcard to carry out banking operationssuch as withdrawals, deposits, transfersand bill payments. It is called a plastic card holding bankbalance. It is a 24x7 service. Each bank has its own ATM system butcertain features are commonan account, an access card, an ATM.
  9. 9.  An ATM system act as a computerterminal connected to the bank’s mainsystem. When the access card is inserted theATM initiates communication over anetwork of communication linesdedicated for this purpose. After providing welcome screen thesystem will request PIN number. We can find out our balance, transferfunds from one account to another andmore additional features.
  10. 10.  Issuing electronic cheque is anotherimportant application of informationsystems in banking services. Bank register users with Netchequeaccounting servers. Users who are registered with Netchequeare able to write electronic cheques toanother users. These cheques may be sent through ane-mail or payment of services providedthrough other network protocol.
  11. 11.  The Netcheque system is well suited forclearing micropayments. It enables such information technologytechniques as popular Internet servicesthat charges a small fees to access theinformation, processing, queries andconsumption of resouces.
  12. 12. Electronic Fund Transfer:-Inter bank fund transferIntra bank fund transferAutomatic Teller MachineElectronic ChequeAmbadi.S