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1955

Banking automation: ERMA

SRI revolutionized banking with the inventions of ERMA (Electronic Recording Machine, Accounting) and magnetic ink character recognition (MICR). Together they replaced laborious manual recordkeeping with automatic processing of bank and traveler’s checks. Introduced by Bank of America in 1955, these innovations launched data processing machines for business. MICR is still used worldwide today for reading and processing checks.

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