How has technology changed the banking industry? Technology growth in the financial industry are changing the way consumers bank. As consumers, corporations, and governments keep on demanding more efficiency, the payment system will continue to become more complex. In conformity with Wright, R. E., & Quadrini, V. (2009), states that the advent of cheap electronic computing and digital telecommunications after World War II, did in the end stimulated important innovation. Technology has had a very
computing, communications, information and knowledge. This will completely change the way we live, work, and think. The development of high speed networks, coupled with the falling cost of computing power, is making possible applications undreamed of in the past. Voice, data, images, and video may now be transferred around the world in micro-seconds. This explosion of technology is changing the banking industry from paper and branch banks to' digitized and networked banking services. It has already
INDRODUCTION 1.1 Background of the study Information Technology (IT) plays a vital role in all sectors in businesses today. This is mainly due to its high organizational impact and rapid expansion of IT applications in the recent past. This is particularly true in the information intensive industries, such as banking. It is well known that commercial banks increasingly use IT to gain competitive advantage. Since the mid-1990s, there has been a fundamental shift in banking delivery channels toward using self-service
developments in information technology have presented a range of opportunities with respect to the ways through which information can be accessed and exchanged. Technology today provides a number of ways today through which information can be stored and its access can be controlled. Technological advancements have also made the industries across the world to continuously evolve to these new and rapid developments (Cummins, J. David; Rubio-misas, Maria; Zi, Hongmin, 2004) and banking sector is no exception
Perceived Security in Electronic Banking in India: A Cross-Sectional Study Thirupathi Chellapalli, Research Scholar School of Management Studies University of Hyderabad, Hyderabad, Telangana – 500 046 E-mail Id: thirupathi.chellapalli@gmail.com & Ph.08897259193 Dr. D. V. Srinivas Kumar, Assistant Professor School of Management Studies, University of Hyderabad, Hyderabad, Telangana – 500 046 E-mail id: srinivasdaruri@gmail.com Abstract: Indian banking industry has witnessed radical transformation
role of ICT in various industries. Introduction ICT is a broad term that includes any communication device or application, in most times it is difficult to explain since its concepts, methods and applications are always evolving on an almost daily basis making it difficult for industries to keep up with its frequent changes. According to the European commission ; the importance of ICT rely less on the technology as it is, than it is able to create greater access to information and communication in
1. Core Capabilities Model : Banks that are equipped with a good grasp of the e-banking phenomenon will be more able to make informed decisions on how to transform them into e-banks and to exploit the e-banking to survive in the new economy. Given the e-banking is a financial innovation (Liao and Cheung, 2003) [9], the change may render the organizational capabilities of the traditional banks obsolete. From the resource-based view (Mahoney and Pandian, 1992) [10], in such a context, the banks must
Impact of E-commerce on Banking Sector Expanding market, reducing costs, improving consumer service, etc are some of the methods adopted by business men in order to establish their brand in the market. One of the most common techniques of conducting business adopted is by embracing e-commerce. 'Electronic commerce is sharing of business information, maintaining business relationships and conducting transactions by means of telecommunications networks'(Vladimir Zwass). Electronic commerce commonly
SITUATION ANALYSIS Below are Malaysian banking industry’s external environment assessment using Porter’s 5 Forces Analysis. For the purpose of this assessment, 4 top-in-the-league existing domestic banking groups in terms of asset size have been chosen i.e. Maybank Berhad, CIMB Bank Berhad, Public Bank Berhad, and RHB Bank Berhad. All 8 domestic banking groups have operations in all the 3 segments of banking businesses namely Commercial, Islamic, and Investment bank. Upon analyzing and assessing
GIS has been improved its functionalities to respond the market requirements. It means that GIS industry has modified GIS capabilities to accept by businesses. One example of these improvements is the “address matching” techniques which is very useful for spatial analysis and mapping in addition a large amount of attribute data linked to customer sales records can be handled by this method. Another example of GIS improvement is the inclusion in software packages which were used to solve the location