Digitalization accounting system and information technology can plat crucial role in banking sector. Banks using manual banking systems cannot adopt itself to changing business environment and cannot delivering quick and efficient services to their customers. On the other hand, banks operating with computerized accounting/banking systems can offer much improved, efficient and fast services to their customers by them much more competitive. Advancement in technology and globalization has brought a very high competition within the banking industry. The desire for foreign investment opportunities due to less stringent regulations in the financial sector with regional economic integration have compelled most local banks to modernize. This article is related to of accounting systems in banking sector. It also presents how banks digitalization of accounting has helped eradicate many problems in the banking field, comparing and giving insights into differences between computerized accounting systems and manual accounting/banking systems.
Computerization Accounting system, Manual Banking system, Banks, Accounting Software
