How information technology is supporting banking sector:
INTRODUCTION:
Technology in today’s modern environment plays a major role in all aspects of society, with widespread use in a majority of industry and business sectors.
In today’s global economy many industries have to invest heavily in Information technology in order to keep its competitive advantage and to ensure they will be able to compete with competitors who now operate within a global economy.
It can be said that there is an established trend within the financial services sector of increasingly heavy dependence on technology for delivering services and that this will continue in the future. The reliance on technology comes from the enablement, as a result of its use, to provide services and process tasks which would not otherwise be provided.
The financial service industry could not provide the level of service it does without the support of advanced information processing and telecommunication technologies. The numbers of checks (over 37 billion annually), credit card drafts (over 3.5 billion annually), and securities trades (over 30 billion shares traded annually) would swamp any manual system that tried to handle them.
Technology is influencing competition and the degree of contestability in banking and financial services.
How information technology is supporting banking sector:
Computers are coming with their more sophisticated version. These computers have given a potential to the banks and they could only dream about and have given bank customers high expectations. Changes those technologies bringing are enormous in their impact.
Computers are coming with their more sophisticated version. These computers have given a potential to the banks and they could only dream about and have given bank customers high expectations. Changes those technologies bringing are enormous in their impact.
In 21th century we can see embracement of convergence of the following skills such as
Computing
Communications
Information
Knowledge
And all the
Technology in today’s modern environment plays a major role in all aspects of society, with widespread use in a majority of industry and business sectors.
In today’s global economy many industries have to invest heavily in Information technology in order to keep its competitive advantage and to ensure they will be able to compete with competitors who now operate within a global economy.
It can be said that there is an established trend within the financial services sector of increasingly heavy dependence on technology for delivering services and that this will continue in the future. The reliance on technology comes from the enablement, as a result of its use, to provide services and process tasks which would not otherwise be provided.
The financial service industry could not provide the level of service it does without the support of advanced information processing and telecommunication technologies. The numbers of checks (over 37 billion annually), credit card drafts (over 3.5 billion annually), and securities trades (over 30 billion shares traded annually) would swamp any manual system that tried to handle them.
Technology is influencing competition and the degree of contestability in banking and financial services.
How information technology is supporting banking sector:
Computers are coming with their more sophisticated version. These computers have given a potential to the banks and they could only dream about and have given bank customers high expectations. Changes those technologies bringing are enormous in their impact.
Computers are coming with their more sophisticated version. These computers have given a potential to the banks and they could only dream about and have given bank customers high expectations. Changes those technologies bringing are enormous in their impact.
In 21th century we can see embracement of convergence of the following skills such as
Computing
Communications
Information
Knowledge
And all the