Introduction
Banks are the oldest, biggest, and fastest-growing financial sector in India. Banks meet the needs of farmers, businessman, entrepreneurs, Government and other segments of the society. In the last few decades, the banking sector has witnessed numerous important transformations. One such transformation is the use of technology in banking sector . Present-day, the Indian banking system is regarded as a well-developed and well-regulated banking system throughout the world.
The use of technology in the banking sector has led to Productivity enhancement, innovative products, speedy transaction and transfer of funds, real time information systems, and efficient risk management.
Presently, the Indian banking industry is going through IT revolution. Information Technology is basically used in two different ways in banking, firstly in Communication and Connectivity, and secondly in Business Process Reengineering. Information technology enables sophisticated product development, better market infrastructure, implementation of reliable techniques for control of risks and helps the financial intermediaries to reach remote and diversified markets.
Recent trends in IT in banking sector
Denne historien er fra May 2020-utgaven av BANKING FINANCE.
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Denne historien er fra May 2020-utgaven av BANKING FINANCE.
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