Thursday, October 4, 2012

Why Groundbreaking ATM Software is So Important

Technological advances in the finance sector not only allow us to make transactions, pay bills and apply for accounts faster than ever before but they also help us keep our money safe. Technological advances come in all shapes and sizes and often become so integral to everyday life that we can often take them for granted. We investigate some of the most ground-breaking technological advances within the banking sector to happen in recent years.
The first major technological advance within the finanbial sector is the rise and rise of internet banking. Internet banking first stemmed from an invention in the late 80s called videotex where people could send tones down a phone line and administrate their bank account. A system much more similar to the internet banking we know today was introduced in 1983 and was called Homelink. Homelink allowed customers to view their bank accounts via a BBC Micro computer as well as make transfers and pay bills. Online banking as we know it really to shape during the mid 90s and the internet became readily available.
Since security and data protection have become more topical with the rise of internet banking, more advances have involved making the world of finance a more secure place. Using a single password is no longer secure enough for most online banking or e-commerce sites. Recently PINs and TANs have become popular for protecting people's online accounts and details. While a PIN is a selection of numbers used as a password, a TAN is a one-time password that is distributed using a security token and becomes void after that one particular transaction. In recent years, scams such as phising, pharming and Trojan keyloggers have put people's passwords at threat as viruses either log the password as it is being entered or users unwittingly give out their details in false forms or email queries.


Post a Comment

Copyright © . Software Technology - Posts · Comments
Theme Template by Software Technology · Powered by Blogger