Importance of information technology in banking essay

Importance of Information Technology in Banking 2035 Words Mar 24th, 2013 9 Pages Todays business environment is very dynamic and undergoes rapid changes as a result of technological innovation, increased awareness and demands from customers. Another one of the key benefits of technology in banking is that it allows us to pay bills quickly and without fuss. We can arrange to have them paid by direct debit every month at a time that suits us, or we can make one off transfers as and when the bills come in.

Using technology especially Mobile banking and internet banking, the banks can cope these challenge. Literature review describes the important of mobile and internet technology for the banking sector. It is concluded with technology the banking cant survive, and we can say Banking without technology is not possible.

Importance of Information Technology in Banking 2035 Words 9 Pages. conditions and highly unpredictable economic climate. Information and Communication Technology (ICT) is at the centre of this global change curve. The application of information and communication technology concepts, techniques, policies and implementation strategies to banking services has become a subject of fundamental importance and concerns to all banks and indeed a prerequisite for local and global compe Role of Technology In Banking Sector Technology has been a boon to many industries and especially to the banking industry.

With the help of technology banks are able to reach out to more customers and provide better services to them. Also, it helps them function in an organized and in a secure way.

Information technology before was at some sort limited in every sector of banking industry, engineering business and computer society.

Its been a long time since we are confronted by the importance of information technology; the only difference was how advance it is in terms of usability. Importance Of Information Technology In Banking. increased awareness and demands from customers. Business organisations, especially the banking industry of the 21st century operates in a complex and competitive environment characterized by these changing conditions and highly unpredictable economic climate.



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