Information Technology and its influence on the Lebanese Banking Sector

Abstract

In today's turbulence economic, and social comprehensive meeting of computing, information, communications and knowledge based society. The fundamental change of approaching implemented solutions is based on how much we depend on human capital. In terms of thinking, acting, working, as well as living. The development of high speed networks with the measurement of innovative technology has witnessed declining in cost of computing power, which in return potential applications undreamed to become from the past. Data, voice, video and images may nowadays be transmitted around the world in micro-seconds. This explosion and development of technology is shifting the banking industry from branch banks and paper to' digitized and networked banking services. Resulting in knowing that changes is eminent in the management systems and the internal accounting of banks. Currently, the fundamental altering is the delivery systems of banks that use to cooperate and interact with their customers. Banks, in general worldwide, are still fighting to discover a technological solution in order to meet the challenges of a speedily-changing environment. It is obvious that this new technology is shifting the banking industry eternally. Banks with the capability to integrate and invest information technology will become dominate in the extremely competitive global market. Bankers are persuaded that investing in IT and skillful employees to meet the future challenges of market and customers' demands. Its potential and effects on the banking industry future is great.