On Thursday, 13 November, some of the lecturers led us, FBI students to this field trip. There were 8 students and 10 lecturers who went for it. The highlight of that day was the speech made regarding the three zones banks wish to achieve, followed by the systems and equipments they have created, in relation to the 3 different zones- Discovery Zone, Transaction Zone and Fulfillment Zone.
First of all, before going on, do you know what IBM stands for? It stands for International Business Machine. The slogan of this IBM Banking Centre is, “Smarter Banking. Powerful Results.”. Wow, the name says it all! Well, what I got to know from the trip was that IBM is trying to transform the banking sector into an innovative one that will have powerful results.
Now, back to the details, we were first addressed by the owner of the centre. Following that was a presentation on what they hope to achieve by providing banking service solutions. As I have stated earlier on regarding the 3 different zones, he touched on those too. The main aim of Discovery Zone is to give customers more personal touch by addressing them with the latest products, upon their visit to banks.
As for Transaction Zone, it is more of making the transaction process more efficient and effective. Lastly, the Fulfillment Zone aims to provide more security by the use of 2 Factor Authentication and Smart Surveillance Camera.
After the speech, only did I realized that there is an interactive screen and it is being used by one of the banks in Singapore. Basically, it is a thin transparent film that is pasted inside the bank’s transparent door. Customers can “interact” with the screen by placing their hands on the buttons displayed in the screen to know facts such as the interest rates for savings account. I’m sure that you will be curious on how it works. Well, the screen responds due to infrared radiation in our hands. So, we can use this screen 24/7.
We also got to know that some banks are planning to go paperless by adopting online application forms. In the future, there will also be a system whereby people will have this RFID card which has a chip that will enable customer service personnel to identify target customer’s arrival to their bank branch. This will give the prominent customers a better personal touch which will gain more profit.
We were also introduced to 3 different machines. One of it is the usual ATM machine. The other one allows customers to pay their bills while the other comprises of both ATM and cash deposit facilities. That machine can require customers to place their fingers according to the amount they wish to withdraw. This will save the time and manpower used to replenish notes.
Now, you may think what happens if there were to be a shortage of notes. They have a solution for that too! They have a system that allows them to know the quantity of notes for each amount for a particular machine and it will also send a warning message when someone opens the ATM machine. Indeed a great solution.
Lastly, they introduced to us the Smart Surveillance Camera and how it works. Basically, it detects anyone who moves and identifies the parts that are moving. If you are in different positions, there will be different colors to differentiate the location you are in. This camera can help to catch thieves.
Briefly, that was we learnt in that 2 hour session. We got to know that the Banking system will become more efficient and effective in the near future to produce powerful results. It was truly a useful session and I’m sure all of us who attended enjoyed it too! = )
Posted by Aaysha, C207
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On 13th November 2008, a group of about 20 students and lecturers went down to IBM to see the latest banking system available in IBM. In the whole session, I found it quite interesting especially when we got to scan our finger vessel. I also think that the trip have helped us to increase our knowledge, even though some things that the staff is trying to explain is pretty difficult for us to understand at this stage. This trip has helped us to be aware of the kind of systems the bank will be implementing in the future.
There are many innovative systems that I saw in IBM, such as the Interactive Window, 3-in- 1 ATM etc. I find it quite amusing that fingers can be use for cash withdraw without using any card in the future.
Perhaps next time, if there are any more trips that are similar to this, the school should open to more students. As I think after visiting a company such as IBM, it will help us to have better understanding and stimulate our interest in learning the banking subjects.
Posted by Cindy, C210