Batch processing is execution of a series of programs ("jobs") on a computer without manual intervention. Jobs are set up so they can be run to completion without manual intervention, so all input data are preselected through scripts, command-line parameters, or job control language. This is in contrast to "online" or interactive programs which prompt the user for such input. A program takes a set of data files as input, processes the data, and produces a set of output data files. This operating environment is termed as "batch processing" because the input data are collected into batches of files and are processed in batches by the program.
Benefits:
• It can shift the time
of job processing to when the computing resources are less busy.
• It avoids idling the
computing resources with minute-by-minute manual intervention and supervision.
• By keeping high
overall rate of utilization, it better amortizes the cost of a computer,
especially an expensive one.
• It allows the system to use different
priorities for batch and interactive work.
BEFTN
Bangladesh Electronic
Funds Transfer Network (BEFTN) is the processing and delivery center for the
distribution and settlement of electronic debit and credit transactions among
its participants. The BEFTN is envisaged as a system of participating banks
connected with the EFT
Operator via communication
lines. The Network will start with
credit transactions and gradually progress to debit transactions. This will
dramatically bring down the operational cost, reduce risk and will increase the
efficiency of the payments process. BEFTN has started its 'Live Operation' on
28th February
2011 with the objective
to decrease paper-based payment methods and encourage paper-less payment methods
for secured, faster & cost-effective transactions especially at the
corporate levels. The Network started with credit transactions and started
debit transactions from 15 September 2011.
BEFTN facilitates the
transmission of payments between the banks electronically, which makes it
faster and efficient means of inter-bank clearing over the existing paper-based
system i.e. BACPS. It is able to handle a wide variety of credit transfers such
as payroll, foreign and domestic remittances, social security, company
dividends, retirement, expense reimbursement, bill payments, corporate
payments, government tax payments, veterans payments, government license fees
and person to person payments as well as debit transfers such as mortgage
payments, membership dues, loan payments, insurance premiums, utility bill
payments, company cash concentration, government tax payments, government
licenses and fees.
Participants
in BEFTN
The EFT Network is a
multilateral electronic clearing system in which electronic
payment instructions will
be exchanged among Scheduled
Banks. The system involves transmitting, reconciling and calculating the net
position of each individual participant
at the end
of each processing
cycle. The participants involved
are:
(a) Originator.
(b) Originating Bank
(OB)
(c) Bangladesh
Electronic Funds Transfer Network (EFT Operator) (d) Receiving Bank (RB)
(e) Receiver
(f) Correspondent Bank
