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Gsm Community Bank Paper

Essay by   •  November 30, 2016  •  Research Paper  •  583 Words (3 Pages)  •  863 Views

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Technology is the collection of techniques, skills, methods and processes used in the production of goods or services or in the accomplishment of objectives, such as scientific investigation. Using technology at a community bank can be very risky because it’s not a large city where people in the larger city are already used to the use of technology. At a community we find mostly grown adults who are either retired, socially or religious who reside in a specific locality and have a common artistic and ancient legacy. Banking has come of age as such competition has notify banks to look for modernization that will help keep their customers and even get more customers. As a result of the need for efficiency and effectiveness of information technology on community banks, the internet banking was introduced and has been used mostly for economic purposes through information technology. The endorsement of information technology in the banking sector is a characteristic attributable to the fact that linguistic obstacle needed to be put to an end to enable easy and reasonable means of communicating during transaction to encourage customer and bank relationship, increase customer satisfaction, develop useful efficiency, reduce the running cost, diminish transaction time and give banks competitive edge.

Mr. Smith, 65 years old, owns a dry cleaning he inherited and operates from his father, which someday hopes to pass it on to his children and grandchildren. He frequents GSM community bank, which he uses for his everyday banking needs from paying bills, getting money orders and cashier’s check, paying his employees and many more services the bank has to offer. He is a well known in the bank by both the tellers and managements.

GSM community bank has been around in the neighborhood for decades and just unlike commercial banks GSM community bank incline to center on the essentials of the families and businesses in the community the bank holds branches and office. GSM bank derives it funds from and also lend within the community it operates because it is not affiliated with any multibank holding company, which is why majority of its customers (Mr. Smith included) frequents the bank.

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