CompuBank

CompuBank, often a portmanteau of "computer" and "bank," is a generic term used to describe a financial institution or banking service that primarily operates, or significantly relies on, computer systems and digital technologies for its functions. This encompasses a wide range of banking activities, including online banking, mobile banking, automated teller machines (ATMs), electronic funds transfers (EFTs), and the management of customer accounts and financial data through computerized databases.

The term highlights the shift from traditional brick-and-mortar banking to a more technologically driven model. CompuBank functionalities offer customers increased convenience, accessibility, and potentially lower fees compared to traditional banking methods.

The specific features and services offered by a CompuBank can vary widely. Some may operate solely online, without any physical branches, while others may integrate digital services with a network of physical branches. The common thread is the heavy reliance on computing power and digital infrastructure to facilitate banking transactions and manage customer accounts. Security measures, such as encryption and multi-factor authentication, are crucial components of any CompuBank system to protect against fraud and cyber threats. The term is often used informally to describe any bank with a strong online presence.