Role of It in Banking Sector Summary: The article presents a study which aims to analyze the role of information technology (IT) in the banking industry. Based on the article, technological innovations have enabled the industry to open up efficient delivery channels. It is said that IT has helped the banking industry to deal with the challenges the new economy poses.
How technology is impacting the finance and banking sector Technology is changing the way businesses operate and deliver products to consumers in many sectors. We have alarms that detect poisonous substances in our air, medical equipment that can identify life-threatening conditions before they become an issue, or smarter computer software to make controlling vital equipment easier than ever.
The growing competition, growing expectations led to increased awareness amongst banks on the role and importance of technology in banking. The arrival of foreign and private banks with their superior state-of-the-art technology-based services pushed Indian Banks also to follow suit by going in for the latest technologies so as to meet the threat of competition and retain their customer base.Technology seems to have done the trick and is single handedly responsible for the overhaul of the banking sector in India. All banks have been focusing their efforts towards upgrading technology. Due to the advent of digitization, the industry has witnessed a paradigm shift from the traditional methods of consumer banking to digital ones.The purpose of this study is to examine the relationship between new technology implementation in banking sector and customers. How they are aware about the technologies and how they are using it. Data for this study was collected from the customers.
The banking sector in every country, Including Pakistan is subject to many internal and external forces. Technological changes are considered to have most far reaching impact on the banking sector. Technology, particularly the internet is the key operator of internal changes.Read More
The banking sector play an important role in the global economy. It has been under influence of many forces: both externally and internally (Gentle, 1993). Regarding external forces, technological innovation seems to have the most impact on this sector (Nellis, 1998).Read More
This essay was submitted to us by a student in order to help you with your studies. If you use part of this page in your own work, you need to provide a citation, as follows: Essay Sauce, Literature review: Banking systems and technology.Read More
The benefits of technology in banking The banking industry is one that has always relied heavily on computerized records and the ability to access crucial information quickly and easily. However the benefits of technology in banking have become even more apparent in recent years, as phone, online and mobile banking has revolutionized the way we take care of our finances.Read More
IDRBT Awards for Excellence in Banking Technology 2012-13 The process for the Ninth Edition of IDRBT Awards for Excellence in Banking Technology was initiated in March 2013 with a jury meeting to discuss and finalize the award categories.Read More
This article analyzes how information technology (IT) is transforming individual banks and the entire banking industry. Even though the basic economics of banking have not changed, IT developments.Read More
Almost all banks have introduced Core Banking Solutions for their day today operations. As such, banks are using the technology for Back end operations such as Analytics, Data storage and retrieval, Customer Relationship management (CRM), advances.Read More
Benefits of Information Technology to the Banking Sector A Case Study of the Cosmos Cooperative Bank Ltd. Information technology has transformed the functioning of business all over the world. It has expanded the reach and coverage of systems. Use of IT made it possible to take better decisions on the basis of latest and accurate information.Read More
Negative impact of technology on banking sector :-The biggest negative impact of technology is loss of Jobs as automation has replaced number of jobs in banking sector. Through technology comes the threat of Cyber Attack, a loophole in the system, millions of data can be lost in the blink of an eye.Read More
Role of Information Technology in Banking Sector in India Reetika Sharma (Senior Research Fellow), Department of Applied Economics, University of Lucknow Abstract: Headway and Information advancement has pulled in various remote banks to India, thusly opening up new markets, new things and compelling movement channels for the sparing cash industry.Read More