Technology allows companies new ways to offer customers and clients up to date financial information.
Until now, financial institutions shared information by telephone, telex and through the financial columns in newspapers. New technology offers the ability to make information available on demand.
Managing director at Cognotec Brian McCabe explains the importance of this technology for instant business. He explains how the technology provides senior managers with timely access to information to make business decisions.
Information is supplied to the Cognotec system from computer terminals often located in a bank's dealing room.
An employee at Cognotec demonstrates how the system operates through a simple menu system.
Many of the big names in Irish industry are using the new technology and have access to a broad range of financial information. Cognotec plans to develop the system further with services to provide insurance quotations and analysis of marketing and sales statistics.
The client now gets information that's up to date at the press of a button.
Customers can now compare rates across various banks at one time. Brian McCabe believes that the service will lead to greater competition between banks thereby providing a better service to the customer.
An RTÉ News report broadcast on 4 May 1984. The reporter is Andrew Kelly.
