3a (i) Define Information and Communication Technology.
3a (ii) State three uses of Information and Communication Technology in the banking sector.
3b (i) State the full meaning of LAN.
3b (ii) State the full meaning of GPS.
3b (iii) State the full meaning of IP.
3a (i) Information and Communication Technology (ICT) is defined as any product that will store, retrieve, manipulate, transmit or receive information electronically in a digital form.
ICT is concerned with the way these different uses can work with each other.
3a (ii) ATM: Automated Teller Machine is a computerized telecommunications device that enables the clients of a financial institution to perform financial transactions without the need for a cashier, human clerk or bank teller.
Teleconferencing: Through video, computer or audio, bankers/ bank officials are grouped for interaction from different locations. Financial businesses are also discussed through this means.
Internals Network: LAN (Local Area Network) helps bankers to share hardware facilities and have access to common data programs.
Mobile Phones: Phones help bankers to receive and make calls within and across geographical areas. It also gives access to the Internet, emails, text, MMS, business applications, among others
3b (i) LAN - Local Area Network
3b (ii) GPS - Global Positioning System.
3b (iii) IP - Internet Protocol
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