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Role of tech in bkg service

xcerpt from Article:

ROLE OF INFORMATION TECHNOLOGY IN BANKING INDUSTRY Ilyas-Ur
Rahman, Osmania University, Hyderabad, INDIA INTRODUCTION I.T. in Banking:

1). Technology has opened up new markets, new products, new services and efficient
delivery channels for the banking industry.

Online electronics banking, mobile banking and internet banking are just a few examples.
2). Information Technology has also provided banking industry with the wherewithal to
deal with the challenges the new economy poses. Information technology has been the
cornerstone of recent financial sector reforms aimed at increasing the speed and
reliability of financial operations and of initiatives to strengthen the banking sector.

3). The IT revolution has set the stage for unprecedented increase in financial activity
across the globe. The progress of technology and the development of world wide
networks have significantly reduced the cost of global funds transfer.

4). It is information technology which enables banks in meeting such high expectations of
the customers who are more demanding and are also more techno-savvy compared to
their counterparts of the yester years. They demand instant, anytime and anywhere
banking facilities

5). IT has been providing solutions to banks to take care of their accounting and back
office requirements. This has, however, now given way to large scale usage in services
aimed at the customer of the banks. IT also facilitates the introduction of new delivery
channels - in the form of Automated Teller Machines, Net Banking, Mobile Banking and
the like. Further, IT deployment has assumed such high levels that it is no longer possible
for banks to manage their IT implementations on a stand alone basis with IT revolution,
banks are increasingly interconnecting their computer systems not only across branches
in a city but also to other geographic locations with high-speed network infrastructure,
and setting up local area and wide area networks and connecting them to the Internet. As
a result, information systems and networks are now exposed to a growing number.

Technology Products: (1). Net Banking

(2). Credit Card Online (

5). Mobile

Bill Payment (11). 2. Online Payment of Excise & Service Tax (10). Railway Ticket Booking through SMS (15). Funds Transfer (eCheques) (19). The research design use in this study is descriptive research design . Cash on Tap: (ii) Normal Delivery METHODOLOGY: Scope of the Study: The study confines to the examining the Role of IT in the Study Banks. 4. Mobile Banking (22). Smart Money Order (17). REVIEW OF BUSINESS RESEARCH. One View (4).apart of conclusive research. The Perception of Employees towards the Implementation of Information Technology in the Banks 2. 2007 162 1. To assess the Customers' Satisfaction Level towards the Use of Information Technology related Services in the Banks RESEARCH DESIGN: 1. InstaAlerts (7). Card to Card Funds Transfer (18). Prepaid Mobile Recharge (16). NetSafe (8). Volume VII. e-Monies Electronic Fund Transfer (9). particularly. Internet Banking (21). Number 6. Shopping (13). OBJECTIVES OF THE STUDY: The objectives of the Study are as follows: … .(6). Phone Banking (12). Anywhere Banking (20). Exploratory Research was used to gain insight into the Impact of IT in the Indian Banking Industry. 3. Both Exploratory Research and Descriptive Research were used in accomplishing the Objective of the study. Descriptive Research was used to gain insight into the Role of Information Technology in the Indian Banking Industry. Ticket Booking (14). Bank@Home (i) Express Delivery (3).

Information Technology has also provided banking industry with the wherewithal to deal with the challenges the new economy poses. and setting up local area and wide area networks and connecting them to the Internet. Net Banking. • Commercial banking transformed by computer technology • Role of the electronic banking services on the profits of Jordanian banks 3). new services and efficient delivery channels for the banking industry. in Banking: 1).INTRODUCTION I. More Articles of Interest • Focus: IT in banking • Advances in banking technology and management. mobile banking and internet banking are just a few examples. however. new products. information systems and networks are now exposed to a growing number. 5).T. 4). Technology Products: (1). It is information technology which enables banks in meeting such high expectations of the customers who are more demanding and are also more techno-savvy compared to their counterparts of the yester years. anytime and anywhere banking facilities. banks are increasingly interconnecting their computer systems not only across branches in a city but also to other geographic locations with high-speed network infrastructure. IT also facilitates the introduction of new delivery channels--in the form of Automated Teller Machines. Technology has opened up new markets. 2). This has. They demand instant. The progress of technology and the development of world wide networks have significantly reduced the cost of global funds transfer. Mobile Banking and the like. IT has been providing solutions to banks to take care of their accounting and back office requirements. IT deployment has assumed such high levels that it is no longer possible for banks to manage their IT implementations on a stand alone basis with IT revolution. Information technology has been the cornerstone of recent financial sector reforms aimed at increasing the speed and reliability of financial operations and of initiatives to strengthen the banking sector. now given way to large scale usage in services aimed at the customer of the banks. Further. impacts of ICT and CRM • INFORMATION TECHNOLOGY Technology Transforms Retail Banking. As a result. Online electronics banking. Net Banking . The IT revolution has set the stage for unprecedented increase in financial activity across the globe.

arguing that "estimated marginal benefits of investment [in IT] are less than the estimated marginal costs". 3) harmonization of regulatory framework in different countries. (1991). • Commercial banking transformed by computer technology • Role of the electronic banking services on the profits of Jordanian banks DATA COLLECTION METHODS: Data Source: The study made use of both Primary and Secondary Source of data: For the purpose of the study. DATA ANALYSIS: Using SPSS package. More Articles of Interest • Focus: IT in banking • Advances in banking technology and management. libraries etc. journals. Loveman (1994) and Barua et al. 1) trade in goods and services. globalization in banking is based on four important pillars viz. CHI-SQUARE TestA detailed analysis with the help of Chi-Square was applied to understand whether the differences are significant or not. Internet searches.. The data from the Primary sources have been collected with the help Employees of the Bank and customers. 2) flow of capital and movement of human beings across boundaries. the data was analyzed with the help of Chi-Square.According to VP Shetty (2006). Morrison and Berndt (1990) concluded that additional IT investments contributed negatively to productivity.Assessing the factors driving the Implementation of Technology in the Private Sector Banks. both primary and secondary data has been collected. 2). posit that there is no conclusive evidence to refute the hypothesis that IT investment in inconsequential to productivity. The secondary data has been collected from magazines. and 4) developments in technology. particularly those in information technology. SUMMARY AND FINDINGS: . Statistical Tools Used: 1). all the descriptors except Implementation of Technology have been considered as Independent. Regression Analysis :. impacts of ICT and CRM • INFORMATION TECHNOLOGY Technology Transforms Retail Banking. ANOVA and Regression Analysis statistical tools.

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