How has computer impacted the finance industry?

The computer has impacted the finance industry in a number of ways, such as:

1. Streamlining work - There are many programmes available to banks that assist in processing transactions in a timely fashion, as opposed to a person having to do so manually; which would be time consuming

2. Accessibility of Information - Financial institutions often times need to do background checks on prospective clientele, and in the past information such as this would not be readily available. The computer allows for access to various databases that may provide information on these clients eg. credit check websites, so the institution would then be more easily able to gauge the risk of the client

3. Hightened Risk - Cyber crimes are a potential threat to financial institutions because of the now high dependence on computers. Experienced hackers can gain access to an institution's customer information, and could steal their identity or monies invested. s a result of this, financial institutions spend a lot of time and resources on protecting information stored on computers or online