A Study of Banks Dependence on Information Technology and Its Future

ABSTRACT

Ever since the banks in India were nationalised, the banking sector has expanded rapidly to meet the requirements of a wide range of citizens. As a result of embracing technology and striving forward, the banking industry has recently made great strides. Indias commercial banks have evolved into a convenient one-stop shop for all of its customers financial needs. With the advent of value-added and individualised goods, the banking industry is moving its attention from the masses to the elite. Banks may now set up shop in the lobby of a commercial building and make it appear like a branch, all without staffing the location with human tellers, thanks to technological advancements. The adoption of technologies like telebanking, automated teller machines, the World Wide Web, mobile banking, and electronic banking has allowed the branches to operate on a round-the-clock basis. The banking industry throughout the world has recognised the potential of E-Banking as a strategic tool for acquiring and retaining clients. This article makes an effort to analyse E-Banking and its results for the banking sector.

FULL TEXT