Computer History Automated Check Processing 1989 Federal Reserve BANK tour (women computing)

Computer History: Tour of the St. Louis Federal Reserve showing high speed check processing automation, bank processes, and a brief look at its IBM data center, women and men running computer systems, computer operations and equipment. The narrator explains the working of a Federal Reserve Bank in basic terms. A good overview of the check processes from a high level view. This is about 32 years ago. It would be interesting to see a tour today.
Runs 12 mins. (Produced by the St. Louis Fed. 1989)

Tour of the Former Boston Computer Museum

Also, there is a Museum near the St. Louis Fed, and they have a web site here:

Fraser: Economic History (research and documents)

[captainkeyboard]

I worked as a card punch operator for the Federal Reserve Bank of New York within a short period of time in 1974. Today in 2023, this show refreshes my desire to work with computers, even one at home.

[Paul-in-Missouri]

I had this account in the 80's as a field engineer for the company I worked for at the time. It was an interesting account.

[GBlunted]

Only by seeking the origins of a system can you hope to understand how it could possibly exist in it's current state. Everything is cause and effect. I mean, this doesn't explain what the hell it was like before the clearing houses were actually 'automated'! I could only imagine what the history and origin story of this video must be like...I mean, damn...

[codingprograms]

Very informative, I think I saw Eddie Murphy walk pass. 😂.

[montyyy]

Technically all bank notes are themselves cheques. It’s a promise to pay. All you had to do was go to the issuing bank (of which there were many) and they would weight out the equivalent for you in silver. This all stopped in the 30’s when the US stopped backing money with the gold standard (not just gold but precious metals), meaning they could now print more money instead of mining / obtaining more precious metal.
Also, when you pay by card, the electronic transaction functions as a cheque via Visa, MasterCard, Amex, etc. Just in digital form. The cheque number is your transaction ID!

[vibingwithvinyl]

I don't think I've seen a paper check for... maybe 25 years or so. Then again, I don't live in the US.

[kds]

And one of the goals of the Fed was to limit panics. One big one in the 1930s they missed though