Banking

In: Other Topics

Submitted By virali
Words 318
Pages 2
The article presents a study which aims to analyze the role of information technology (IT)
in the Indian banking industry. Indian banks are investing heavily in the technologies such
as automated teller machine (ATMs), net banking, mobile banking, tele -banking, credit
cards, debit cards, smart cards, call centers, CRM, data warehousing etc. It is essential to
evaluate the impact of information technology on the performance of Indian banks in terms
of extended value added services and customer satisfaction thereby. Foreign banks and
Private sector banks which took more IT initiative, were found to be more efficient and
more competent force than public sector banks in India. Based on the article, technological
innovations have enabled the industry to open up efficient delivery channels. It is said that
IT has helped the banking industry to deal with the challenges the new economy poses. The
study examines the views of banking customers on the implementation of IT in banks.
According to the author, private and foreign banks use more IT-related banking services
than public sector banks.
Keywords and Abbreviations: Awareness level, Banking sector, Customer Satisfaction,
ITeS, Security
ATM – Automated Teller Machines / Any Time Money
CBS – Core Banking Solution
IAM – Investment and Assets Management
CRM – Customer Relationship Management
GRC – Governance Risk and Compliance
IDRBT - Institute for Development and Research in Banking Technology
INFINET - Indian FInancial NETwork
ITeS – Information Technology Enabled Services
NEFT - National Electronic Funds transfer
NECS - National Electronic Clearing Service
PKI - Public Key Infrastructure
RTGS - Real Time Gross Settlement
TBA – Total Bank Automation
SBI – State bank of India
SFMS - Structured Financial Messaging System
STP - Straight Through Processing European…...

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