BANKING: The Machines Take Over

In a functional glass-and-concrete building in San Francisco, the Bank of America, the nation's biggest (1960 deposits: $9.7 billion) commercial bank this week showed off the most highly automated center any bank can boast. It will serve as the nerve center for the bank's automation system, which has taken ten years to put into operation. It will take over all the work connected with handling checks for the 87 Bank of America branches in the San Francisco area; it will tabulate and clear checks, keep track of the checking accounts and print...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!