The Full Form of ‘CBT’ in Banking is ‘Computer-Based Terminal’.
Full Form of CBT
CBT, or Computer-Based Terminal, is a term used in the banking industry to refer to an automated system that allows customers and banks to conduct transactions electronically. CBT systems are often used for everyday banking tasks such as deposits, withdrawals, loan payments, and transfers.
CBT systems are designed to make banking more convenient for both customers and banks alike. Banks can save time and money by eliminating the need for manual processes when it comes to completing financial transactions. Customers benefit from having more access to their funds without having to visit a physical branch location. This can be especially helpful during times of illness or other emergencies when customers may not be able to leave their homes.
CBT systems are usually connected to the internet and allow customers to securely log into their accounts online. They can then view account balances, transfer funds between accounts, pay bills, and complete other transactions with just a few clicks of the mouse. Since all of this information is stored on secure computers in the bank’s computer system, customers don’t have to worry about providing personal information over the phone or in person when making financial transactions.
The process of setting up an account with a CBT system is fairly simple. Customers must provide personal information such as their name, address, phone number, and social security number before they can begin using the service. Once an account is set up, customers can access their accounts through any device with Internet access—including smartphones—and use their log-in credentials from anywhere in the world.
For added security features, most CBT systems also require additional authentication steps such as entering a PIN code or answering security questions before allowing users access to their accounts. Additionally, many CBT systems encrypt data sent over the internet so that it cannot be intercepted by hackers looking for sensitive information such as credit card numbers or passwords.
CBT systems have revolutionized how people manage their finances today by providing faster and more efficient ways of handling financial transactions without having to wait in line at a bank branch office or wait on hold on the telephone while speaking with a customer representative. As technology continues to advance further over time, expect even greater convenience when it comes to managing your finances with computer-based terminals like CBT systems in the future!
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