Information technology refers to the acquisition, processing, storage and dissemination of all types of information using computer technology and telecommunication systems technology includes all maters concerned with the furtherance of computer science and technology and with the design, development, installation. 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. According to my point of view, technology is improving day by day, we cannot able to stop it in the banking sector, technology has been improved a lot paytm is an example it is useful to us it reduces our work but it involves much theft many frauds have been raised by this but technology improvement is needed in our. The challenge for banks is to understand the technologies that are reshaping and will continue to reshape the future and how to strategically invest now the way consumers think about money and banking is already changing dramatically financial services workers are also empowering themselves with technology. Of banking one example can be the recent rush to merge banks in sweden, where one often heard argument is that a larger scale of the banking operations should improve cost efficiency another example is the spread of new service delivery technologies like, eg, internet banking, which have very strong cost. Many industries in india are at an inflection point where technology is enhancing efficiency by doing more and at a faster pace than what humans could do.
The banking industry is witnessing a revolution in products, process, market and regulations and it's a revolution that is not about to stop or even slow down since the only option is to adapt and evolve, it is essential that system have the flexibility to quickly adjust the need of today's financial market. Information technology in the banking sector : opportunities, threats and strategies hassan ghaziri graduate school of business and management, american university of beirut, 1998 the new era the 21st century will bring about an all-embracing convergence of computing, communications, information and knowledge. Read this essay on impact of information technology on banking sector come browse our large digital warehouse of free sample essays get the knowledge you need in order to pass your classes and more only at termpaperwarehouse com.
Computing and it in the workplace is one of the vital modules that must be deeply studied due to its widely importance which effect on organization's development and behaviour in this report we will provides an explanation about online banking system in maybank and we will review what the. Banks have started deploying technology, core banking, hrm and erp management and process re-engineering etc to improve on their performance and productivity.
Based on a survey conducted by forrester, mobile banking will be attractive mainly to the younger, more tech-savvy customer segment a third of mobile phone users say that they may consider performing some kind of financial transaction through their mobile phone but most of the users are interested in performing basic. Increasing competition from financial technology companies financial technology (fintech) companies are usually start-up companies based on using software to provide financial services the increasing popularity of fintech companies is disrupting the way traditional banking has been done.