Software Project Management and Quality Assurance Essay

Software Project Management and Quality Assurance - Essay Example This essay stresses that the paradigm shift in embracing technological changes that take place has changed the face of banking system leading to the introduction of various features in the banking industry through an intermarriage of market factors like competition and customer loyalty. It is through this that banks have had to go along technological track by introducing features like Remote Deposit Capture, Check 21 and many other efficiency-oriented technology-based attributes. Blue Bank Ltd does not want to be left behind the trail but to compete effectively with others in the industry. This paper makes a conclusion that remote deposit capture systems operate in a more or less patent-like mode. In general, instead of customers going physically to the banking halls, the RDC system, in its most simple terms, allows the customer to scan the relevant documents e.g. checks and transmit the scanned images or records to the provided portals. They obtain portal accounts from the bank and use the account for transactions and transmitting the scanned data whenever need arises. In this case, the banks took advantage of the proliferation of business method patents in the late 90s; a fact they claim eliminated any element of risk and uncertainty in the banking industry and allowed them to fully dedicate valuable resources to focusing upon their core business. The adoption and use of RDC system by banks and other banking institutions resulted from the threats that were posed by the previous systems like check-over-the-counter and cash deposit culture. In order for the banks and t he institutions to avoid being thrown out of business out of competition, they had to embrace the culture which would give them a better competitive edge over the other competitors in the industry. (RDC Articles, June 2007, RDC Fraud Threats in RDC Error) There was a serious threat of likelihood of fraud which could be as a result of human mistake or racket made willingly. The RDC system does not reduce part of this threat either. Inn the case of cash deposit system, the check would be presented to the party giving payment, but when the check is in the very hands of the public or businesses that should be receiving them it poses a danger of duplication by being scanned in and or redeposit into the bank especially if the original check numbers and figures or amounts are changed. Another case would be where criminals take advantage of the new RDC environment thus taking checks away from the original payee, or presentment of the scanned checks through other banks which may lead to omission or change of vital information. When millions of checks are in the hands of the public, it is easier for criminals to create fraudulent checks, by scanning and editing the original ones.