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Role of Computer Engineers in Banking Sector!

Feb 26, 2018 16:02 IST
    Role of Computer Engineers in Banking Sector
    Role of Computer Engineers in Banking Sector

    In the changing times of today, the banking sector has not been limited to mere financial transactions and official paper works. The banking sector has gone ahead with the latest technological advancements embracing core banking facilities over the entire country. The banking system has become dependent on different types of software to run their day to day activities. This dependence on computers and latest technology has made way for technical experts and people with expertise in the new age technology.  So, the banking system would be impossible without the work of Computer Engineers.

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    The Engineers are using their rational knowledge and are getting ahead of the commerce students in the jobs at the banking sector. It is a common perception that the banking jobs are mostly taken up either by commerce graduates or person with a fancy MBA degree. Though, it might have some relevance in the private bank sector, the perception doesn’t hold water in case of the public banking sector. The number of engineers produced ever year through the huge number of engineering institutes in the country, has resulted into a dearth of suitable opportunities for these engineers. Due to security in the job, many of the engineers after completing their courses are trying to get into the banking sector. It is advisable to the engineering students to learn more about the banking sector and the kind of work associated with it before applying. The digital revolution in the last decade has changed quite a number of equations in the job market and now the engineers are receiving warmer welcome in the banking sector, due to their prowse with the computers and machines used in the banking sector.

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    How Computer Engineers make Banking System more feasible?

    Every day new avenues in the field of technology is getting explored and the banking sector is not left behind in adopting these techniques to improve their day to day functioning. The role of computer in banking sector is very wide. A New prospect in computing in banking system presents stimulating challenges to Computer Engineers in the 21st century.

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    There are many benefits of having computer engineers in the banking sector and recruiting them in major positions in the banks.

    • Coping up with the new technology: As an engineer the recruited candidates can make sure that they get hold of the newest possible technologies launched by the banks. They can help understand the same soon and help their peers in understanding and problem solving in the particular technology.
    • Fluent in both the hardware and software aspects of the modern computer systems:  The Computer Engineer is fluent in both the hardware and software aspects of the modern computer systems that make banking possible. Today, the banking is not limited to financial transactions from the bank branches itself, but offers transactional facilities through various methods such as ATMs, internet banking, mobile banking and other mobile platforms. Each of these tasks must occur via solidly secure computers communicating over totally hack-proof Internet network connections. In order to make sure that these services are functioning properly, it is needed that the banks recruit engineers with knowledge regarding the same.
    • Analytical and Mathematical Skills of the Engineers: Engineering students in their years of getting their academic knowledge come in terms with analytical and mathematical skills, which in turn become valuable for the people working in the banking sector.
    • Communication Skills and leadership qualities: The students in the engineering colleges are prepared in such a manner that they do not get engrossed with studies only and get along well with extra-curricular activities and taking leadership roles. This helps in developing a leadership quality with good communication skills, which are a must for any working employee in the banking sector.

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    • More familiar with new Software: The engineering students are prone to learning the technical facts faster than the non-engineering candidates.
    • Handling technological requirements of the bank: Not only the ATM and other financial mechanism but the engineers are capable of sorting out problems related to other technological instruments within the bank as well. They can help with problems in the token number system, currency conversion display board, CCTV cameras, access control systems, burglar alarm system, scanners, printers and other hardware installed in the bank.

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    Engineering jobs are drying up due to huge number of candidates passing from the engineering colleges every year, making it very difficult for every engineering student to land up into their preferential jobs. They are moving to the banking sector due to the job security and good pay package along with ability to utilize their knowledge in matters related to technology and its use in the banking sector.

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