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THE BANKING INDUSTRY AND INFORMATION TECHNOLOGY : A REVIEW Journal: Management Trends Volume : 8 No.: 1 March-2011 Authors : Neeru Suman and Arvind Jain Presented By : Chandan Pahelwani Roll No.: 11047 05/26/2022 Tolani Institute of Management Studies 1

Banking Industry and Information Technology

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Page 1: Banking Industry and Information Technology

THE BANKING INDUSTRY AND INFORMATION TECHNOLOGY : A

REVIEW

Journal: Management Trends

Volume : 8

No.: 1

March-2011

Authors : Neeru Suman and Arvind Jain

Presented By : Chandan Pahelwani

Roll No.: 11047

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Page 2: Banking Industry and Information Technology

INTRODUCTION The article presents a study which aims to

analyze the role of information technology in banking industry.

Importance of banking industry in boosting economic 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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Con’t…

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

Information systems are now exposed to a number of technology products like :

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Page 4: Banking Industry and Information Technology

Net Banking

Mobile Banking

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Page 5: Banking Industry and Information Technology

Shopping

Ticket booking

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Bill Payment

Fund Transfer

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Automated Teller Machines (ATMs)

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Page 8: Banking Industry and Information Technology

OBJECTIVES The main objective of this article is to

review the implementation of IT in banking industry.

Technological innovations have enabled the industry to open up new delivery channels.

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

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RESEARCH METHODOLOGY

Overview of the various countries banking services used by the citizens of that country.

To increase the customer value by using some analytical methods in Customer Relationship Management (CRM) applications.

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Page 10: Banking Industry and Information Technology

ANALYSIS & OUTCOMES Mobile banking service is used at the most

in Kenya. In US banking sector, it is examined that

use 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 in relationship between trust and E-banking adoption.

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Page 11: Banking Industry and Information Technology

Con’t… According to the National

Association of Software Services Companies (NASSCOM) the IT market for banks in 2002 was $500 million, is expected to grow by 25% a year in next few years.

Banks will spend on IT and related fields an eye opening Rs.15000 crore.

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Con’t…

The Bank of India has recently awarded 10 years IT infrastructure outsourcing contract valued $150 million to HP services.

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

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Page 13: Banking Industry and Information Technology

CONCLUSION Certain technological changes have improved

the Banking sector tremendously. Policy makers have made some notable

changes like enhancing payments system, integrating regulations between commercial & co-operative banks.

It can be concluded that for better performance Indian banks need new technology.

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