Emerging Trends in Banking  Increasing Role of Information Technology

Dr. Neha Yajurvedi

Volume : V, Issue : X, October - 2015

Emerging Trends in Banking Increasing Role of Information Technology

Dr. Neha Yajurvedi

Abstract :

<p>&nbsp;Over the years, the Banking Sector in India has seen a number of changes. Most of the banks have begun to take an innovative approach towards banking with the objective of creating more values for customers and consequently the banks. E&ndash;Banking enables the people to carry out most of their banking transactions using a safe website which is operated by respective banks. Various Innovations in Banking and Financial Sectors are ECS, RTGS, NEFT, EFT, ATM, Retail Banking, Debit and Credit cards and many more. With the emergence of Privatisation, Globalisation and Liberalisation in India, Banks are focusing on Research and Development and applying various innovative ideas and technology. There is a close relationship between the development of banking sector and the new innovations in technology and Electronic data processing. The present article focuses on the benefits and challenges of changing Banking trends and to study the performance of existing technology based products and services being offered by Banks in India and their future prospects as well as the advancement of banking sector by information technology</p>