Banking and Finance Essay Example for Free

Banking and Finance EssayIntroductionThe modify teller machine (ATM) is a machine that acts as a teller in an institution by receiving and issuing money to and from the ATM account holder or user. The growth and evolution of at ATMs was not only due to, but rather as a result of general global preoccupation in the technological revolution. This came due to challenges of multiple bulk of daily complex information that arise from subsisting difficulties like increase in competition, increase in customers adopt for both work provision as well as efficiency , expansion due to increase in demand and all the likes just to name a few. The ATM system used by small fiscal institutions today is an inherited system from banking system therefore brought in efficiency in different little financial institutions in terms of speed, data processing and storage. Thus, it brought in enormous improvement in queuing in institutions in use of the ATMs. Despite all the merits of ATMs, customers still bring up complains on the demerits of the system much(prenominal) as breakdown of ATMs, long queues at the ATM service point, retention of customers cards. In this light, this research entails to recollect bring out why all these cries after all the goods incurred in the system. 1.1 Background of the study.1.1.1 Historical background.The history of micro financial institutions can be trace as far back as the 1880s when the theorizer Lysander Spooner was writing over the benefits of from small credits to entrepreneurs and farmers as a way of getting people out of poverty. Today, the use of the expression micro financing has its root in the seventies when organisatons were sarting and shaping the modern industry.At that time, some(prenominal) microfinance ini tiatives introduced many new innovations into the sector.Many entreprises began experimenting with loaning to the under served people. The main reason why micro financing is been traced back to the 1970s is that, the pr ogramme could show that people can be relied on to pay their loans and that its possible to digest financing services to poor people through market based enterprises without subsidies.