Information Technology In Banking

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CHAPTER ONE 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 channels such as online banking services. During the past years online banking acceptance has been rapid and currently 55 percent of the private banking in the world has an online banking contract with their bank.…show more content…
So banks also introduce the information technology it is call online or e-banking. So information technological system has become the one of the important resource of the bank and other organization. It is the researcher’s purpose that when this work is completely carried out, it will contribute hugely to the existing literature on the general application of e-banking services in modern day business. It will also contribute to efficient and effective performance of the staff that comes closer to the use of electronic banking services Nowadays the average cost to acquire a new customer in bank is increasingly high. As a consequence of these high costs, relating and growing the existing customer becomes in the banking industry increasing the number of service it provides, to include more than just deposit and withdrawal. Before the introduction of computers long working hours were necessary in banks, since every task had to be carried out manually. A customer want fill forms and wait a lag queues to withdraw money and need more employees and space to keep ledgers and…show more content…
Firstly Peoples Bank was open in late 1980 as 123rd branch in the island to uplift the living standard of poor people in rural areas but other banks was emerged with in 3or 4 years. In order to identify the impact of IT on customer service of all bank in the Eravur region is selected for special reference purpose, it has more than 500000 consumers needed quick and efficient services from the bank and also bankers needed to attract more new consumers and to divert some important consumers from other competitive banks. Now all the banks were computerized and it is converted into online banking system state banking also shift to the online system due to the competition of other private banks and quick service of the bank and satisfaction of the huge customer

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