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THE BANKING INDUSTRY AND

INFORMATION TECHNOLOGY :

A REVIEW

Journal: Management Trends

Volume : 8No.: 1

March-2011

Authors : Neeru Suman and Arvind Jain

Presented By : Chandan PahelwaniRoll No.: 11047

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INTRODUCTION

The article presents a study which aims toanalyze the role of information technology inbanking industry.

Importance of banking industry in boostingeconomic progress of a nation.

Use of information technology for all round

growth.The economic development for the current

year is planned to be over 9%.

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Cont

To support the industrial, commercial,agricultural and other services sector, thebanking sector plays a very vital role.

Information systems are now exposed to anumber of technology products like :

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Net Banking

Mobile Banking

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Shopping

Ticket booking

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Bill Payment

Fund Transfer

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Automated Teller

Machines (ATMs)

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OBJECTIVES

The main objective of this article is toreview the implementation of IT in bankingindustry.

Technological innovations have enabledthe industry to open up new deliverychannels.

Taking the help of IT to deal with thechallenges that the new economy poses.

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RESEARCH METHODOLOGY

Overview of the various countries bankingservices used by the citizens of thatcountry.

To increase the customer value by usingsome analytical methods in CustomerRelationship Management (CRM)applications.

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ANALYSIS & OUTCOMES

Mobile banking service is used at the mostin Kenya.

In US banking sector, it is examined thatuse of IT will reduce the operational cost

of the banks.Malaysian banking sector adopted the

CRM technology and confirmed the role of

CRM performance as the mediators inrelationship between trust and E-bankingadoption.

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Cont

According to the National

Association of SoftwareServices Companies(NASSCOM) the IT market forbanks in 2002 was $500million, is expected to grow by25% a year in next few years.

Banks will spend on IT andrelated fields an eye openingRs.15000 crore.

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Cont

The Bank of India has recently awarded

10 years IT infrastructure outsourcingcontract valued $150 million to HPservices.

The State Bank of India and its 7associate banks got connected their 2500branches with $29 million.

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CONCLUSIONCertain technological changes have improved

the Banking sector tremendously.

Policy makers have made some notablechanges like enhancing payments system,

integrating regulations between commercial &co-operative banks.

It can be concluded that for better

performance Indian banks need newtechnology.

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