Banking automation

from Wikipedia, the free encyclopedia

Bank automation describes the automation of large parts of the banking business through the use of electronic data processing or information technology . It encompasses the operational business as well as accounting , controlling and the automation of payment transactions . Its beginning can be dated to the 1930s, while it has gained in importance since around 1960. Nowadays, large parts of what used to be manual banking are highly automated. The latest level of banking automation is known as financial technology .

history

Bank automation began in Germany with the use of punched card machines in the 1930s. Subsequently, more and more German banks started using technical aids to automate their business areas, especially booking machines typical for banking . From the late 1950s, the first banks began to experiment with computer technology. The main focus was on the use for document automation. After lengthy discussions between the banks, an agreement was reached in 1970 and the uniform account number and bank code were introduced . In the course of the 1970s and 1980s, the banks expanded their systems for paperless processing, but this did not become fully effective until the late 1990s. Banking automation then included cashless payment transactions within and between credit institutions and was finally expanded to include transactions with bank customers via debit cards .

Goals and Motives

The main goal of the automation of payment transactions was to reduce the number of people employed in retail business through process optimization and the use of technology and to improve the service. A race for technological competitive advantages through banking automation developed between the banking groups. Banking automation allowed the range of services offered by the banks to be expanded, while the number of employees rose steadily until the 1990s. A real decline in the number of employees through banking automation has only been noticed since 2001. In order to cope with the flood of receipts, the creation of receipts in particular was digitized as part of the introduction of self-service terminals. Due to the increase in efficiency achieved in this way, the banks shifted a significant part of the banking work to the customer.

Individual evidence

  1. ^ Werner Strohmayr: Sparkasse organization and payment transactions from 1945 to the present in: Mura, Jürgen (Hrsg.): The payment transactions of the savings bank organization: Historical development and future perspectives. Stuttgart 1995, pp. 51-77.
  2. ↑ Monika E. Hartmann: Electronic money and monetary policy: An analysis of the interactions. Gabler-Edition Wissenschaft, Wiesbaden 2000.
  3. ↑ Bernardo Bátiz-Lazo: Technological innovation in retail finance: International historical perspectives. New York 2012.
  4. ^ Employers ' association of the private banking industry: Employees in the banking industry . Retrieved November 18, 2016 .