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The term business operating system (BOS) refers to standard, enterprise-wide collection of business processes used in many diversified industrial companies. The definition has also been extended to include the common structure, principles and practices necessary to drive the organization. [1]
The chief executive officer of Bó, Mark Bailie, announced that he would be leaving the bank in 2020. [5] On 1 May 2020, it was announced that Bó would close, [6] and its 11,413 customers were given 60 days to withdraw their money. Staff working for Bó would be transferred to NatWest's Mettle business banking division. [7] [8]
A digital bank represents a virtual process that includes online banking, mobile banking, and beyond. As an end-to-end platform, digital banking must encompass the front end that consumers see, the back end that bankers see through their servers and admin control panels, and the middleware that connects these nodes.
BOS had its own job control language, named BOS/JCL. This made it easy to delegate otherwise complex operator tasks to non-technical office and shop-floor staff, especially given the intricacies of working with multiple floppy disks. BOS applications were initially compiled to a p-code and interpreted as they ran.
Online banking, also known as internet banking, virtual banking, web banking or home banking, is a system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website or mobile app. Since the early 2000s this has become the most common way that customers ...
Royal Bank of Scotland "mobile bank" unit. The Royal Bank of Scotland provides a full range of banking and insurance services to personal, business, and commercial customers. As well as traditional branches, phone, and internet banking, Royal Bank of Scotland has operated "mobile branches" since 1946 using converted vans to serve rural areas.
In 2006, HBOS secured the passing of the HBOS Group Reorganisation Act 2006 (c. i), a local act of Parliament that rationalised the bank's corporate structure. [6] The act allowed HBOS to make the Governor and Company of the Bank of Scotland a public limited company, Bank of Scotland plc, which became the principal banking subsidiary of HBOS.
UML class diagram depicting a bank account. Advancements in Internet and information technology reduced manual work in banks and increased efficiency. Computer software is developed to perform core operations of banking like recording of transactions, passbook maintenance, interest calculations on loans and deposits, customer records, the balance of payments, and withdrawal.