Note & Coin Counting Machines’ operation explained
The major uses of cash counting machines are the accuracy and speed in counting that they provide. Note-counting machines can count stacks of money quickly and more accurately. These machines also detect counterfeit notes. Currency counters are commonly used in vending machines to determine what amount of money has been deposited by customers. In some…
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Understanding Signature Storage and Retrieval System (SSRS)
Signature Storage and Retrieval System (SSRS) is a technology used by banks and financial institutions to store, manage, and retrieve customers’ signatures electronically. SSRS comprises an arrangement where a signature is optically scanned and digitally coded. The signature of the customer is captured electronically using specialized signature capture devices. The captured signature is converted into…
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Understanding Computer Systems: LANs and WANs
LAN stands for the acronym for local area network, and WAN stands for wide area network. LANs and WANs are both computer networks made up of nodes and links. Both the LAN and WAN networks require two or more nodes to create a computer network. LANs connect devices that are physically close to each other…
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What is a Core Banking Solution (CBS)?
Core Banking Solution (CBS) is centralized Banking Application software. The Customers can access their accounts and perform certain transactions from any of the bank’s branches through the network. It has several components that support a database, application server, web server, and firewall to protect the system from outside attacks. Core banking systems are used by…
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Role of ICT, BC and BF in Financial Inclusion
Information and Communication Technology (ICT) includes a wide variety of technologies in many areas, including business, education, and economic growth. ICT can also be used in health, tourism, agriculture, culture, banking, and entrepreneurship. ICT can help improve the quality of teaching and learning, and make education more accessible and equitable. It can also help teachers…
What is Corporate Debt Restructuring (“CDR”) Scheme
Corporate Debt Restructuring (“CDR”) is typically a voluntary framework, under which financial institutions and banks restructure the debt of companies facing financial difficulties due to various factors, to provide support at the right time for such businesses. It helps a company in financial distress realign its obligations and restore liquidity, avoid bankruptcy, and stay in…
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