ERMA (Electronic Recording Machine, Accounting), was a pioneering computer
development ... Bank of America's checking accounts were growing at a rate of
23,000 per ... The first production ERMA ...
Sep 14, 2014 ... Today in 1959, Bank of America received the first ERMA (Electronic Recording
Machine, Accounting) system. From Wikipedia: In 1950, Bank of America was the
largest bank in California, and led the world in the use of checks. ... feasibility
study for automating their bookkeeping and check handling…
Introduced by Bank of America in 1955, these innovations launched data ...
Development Begins; The ERMA Computer; MICR; Final Hurdles; The Team ...
bookkeeping machine that would streamline the check handling process. ... To
build the new system, called an Electronic Recording Machine, Accounting (
Jun 17, 2006 ... The Third Generation of computers starts approximately in this era. ... This
language introduced the concept of "block instructions", ... Accounting) computing
systems to the Bank of America in California ... This system made capture data
from the checks possible and a check handling system was introduced ...
The Lossproof lighter was introduced in 1947 under the name"LOOP" Then ... Its
purpose was to attract customers who wanted a "lossproof" lighter. ... In 1959,
Zippo began using both the lid and the case to display various sports illustrations.
.... for full-time use as the bank's accounting computer and check han...
An introduction to check fraud and magnetic ink character recognition. ... It's just
desks in a big surface occupied by bank tellers (with a vault in the .... Document
handling pockets of ERMA (Electronic Recording Machine - Accounting) ..... The
first computer ever built in the Silicon Valley was an OCR — well, MICR —
May 22, 2014 ... ERMA was first demonstrated to the public in 1955 (September), and first tested
... Thirty-two units were delivered to the Bank of America in 1959 for full-time use
as the bank's accounting computer and check handling system.
In addition to handling check collections, many of the larger clearinghouses
assumed ... Greatly increased use of charge accounts and credit cards after
World War II ... When American clearinghouses were first organized, their
published reports ... Washington, D.C.: Board of Governors of the Federal
Reserve System, 1959.
It is only in this way that confidence in the banking system can be maintained. ...
bank can “create credit” for use by its customers—either by issuing additional
notes ... Once the accounts of banks begin to show more deposits than cash, part
of ... the use of the bank note at about the same time as the check, although the
... of the check-clearing process when it introduced its first proof machine in 1934.
... it introduced a high-speed bank transit system designed for use by US Federal
... Of particular importance to banks was the IBM 1400 series, introduced in 1959,
and ... In the 1960s, a system's hub was typically an IBM 1401 computer, which ...