Technology on the banking industry operations & its impact

Abstract

The aim of the present research is to know the impact of use of technology on the regular operations of the banking industry. The purpose of the banking industry is to assess the emerging trends of the application of the technology in providing services in the bank branches all over the country and the world. The large percentage of various sectors like financial markets, capital markets, money market and financial institutions undertake huge transactions of transfer of money to the various corners by providing movability of money transfer from one sector to another sector and from one bank and another bank and finally from one country to another country. Last couple of years have seen heavy use of technology in reducing the crowd and floating population in the bank branches so as to enable the branch to concentrate more on development activities like sanction of loans and advances, other customer services and facilities needed to improve the banking system. It goes without saying that without the use of technology the banking industry faces stalemate.