Executive Summary - Vladimir Milosavljevic IT and Banking...

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Vladimir Milosavljevic CIS 1200N IT and Banking Industry Executive Summary I have picked banking industry as an example of its interrelation with information technologies. I think that these days when anyone speaks about any part of banking industry it is very hard not to mention IT because it is implemented so deep in almost all aspects of banking. I have started my research with an obvious example of this correlation – usage of ATMs. ATMs were one of the first pieces of technology that have been implemented in banking industry for more than 40 years. If we go all the way from the beginning and compare capabilities of those first few ATMs installed in big cities, we can see that they were used only as mean for quicker cash withdrawals. However, latest trends suggest that new generations of ATM’s are going to have internet connection as a common thing, new capabilities such as remembering customer preferences, image enabled scanning etc. It is one clear example how improvements in IT sector can benefit to the banking sector as well. Other example is emergence of new RFID technology, which is expected to be used commonly in retailing industry, even in the banking sector.
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