how are computers used in banking? in 400 words
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Answer:
Explanation:
Minicomputers are a class of computing machines that range in size between large mainframe computers and smaller, personal computers. They function as Internet servers and network servers in banking operations. ... Banks use minicomputers as file storage systems, to run email systems and perform Internet operations
Mainframe computers that are used in banking institutions store data pertaining to client records, domestic operations and other vital processing information. A large bank with numerous branches may have a mainframe computer in its central headquarters and linking terminals located in each of its branches. One of the greatest advantages of a mainframe computer for the banking sector is its ability to perform time-sharing. Time-sharing allows multiple users to access the same computer (and its resources) simultaneously. Mainframe computers have incredibly fast data-processing speeds and in-built fault tolerance mechanisms, reduce labor costs, and support a wide range of workloads and uninterrupted processing. According to "Understanding Computers: Today and Tomorrow, Comprehensive," mainframe computers are sometimes referred to as enterprise-class servers or high-end servers. Examples of mainframe computers used by banks include Fujitsu-ICL VME and BS2000 machines.