(a) (i) Define Information and Communication Technology. (ii) State three uses of Information and Communication Technology in the banking sector. (b) State ...
Question 1 Report
(a) (i) Define Information and Communication Technology. (ii) State three uses of Information and Communication Technology in the banking sector.
(b) State the full meaning of the following: i) LAN; (ii) GPS; (iii) IP
Answer Details
(a)(i) Definition of Information and Communication Technology (ICT)
Information and Communication Technology is the use of computers, telecommunication equipment and related electronic devices, together with the necessary software, to gather, process, store, retrieve and transmit information from one place to another.
(a)(ii) Three uses of ICT in the banking sector
- Automated Teller Machines (ATM): customers withdraw cash, check balances and transfer funds electronically without a cashier.
- Online / Internet and mobile banking: customers operate their accounts, pay bills and transfer money over the Internet or a mobile app.
- Electronic funds transfer and cheque/record processing: banks move money between accounts and keep customer records in databases, and use ICT for card payments and account statements.
(Other acceptable uses: electronic clearing of cheques, SMS/e-mail alerts, and a networked ledger shared among branches.)
(b) Full meaning of the acronyms
- LAN - Local Area Network
- GPS - Global Positioning System
- IP - Internet Protocol
Download The App On Google Playstore
Everything you need to excel in your exams
