TECHNOLOGICAL UP GRADATION IN INDIAN BAKING SECTOR AND ITS PROSPECTS, PROBLEMS AND CHALLENGES – A STUDY
Keywords:
Banking technology, Indian banking evolution, Self service technologiesAbstract
Banking sector has witnessed a rapid shift in terms of distribution of services by employing automated and self-service modes of technologies like- ATM, SWIFT, Electronic clearing services, E-Cheque, RTGs, Electronic fund transfer, Internet and mobile phone based platforms.. Most of the banks in India have began to take an innovative idea towards banking with the objective of creating more value for customers and to attract more and more customers. Banking Technologies play a vital role in reducing costs of an organization by facilitating automated interface between service provider and the customer. Technology changes our life day after day since the development of technology covers most of aspects in the life. Today, our life has become digital and dependent on technology since we are interacting with different kind of technologies to fulfill different kind of tasks in our daily life. This article examines the recent application of technologies in the banking sector. The customers are not having secured feeling with the advanced banking technologies. Due to many malpractices, fraudulent activities and loss of money the customers are hesitating to
use the banking technology. The customers are not aware of the technologies provided by the banking industries. Most of the customer does not know how to operate the self service technology offered by the banking industries like ATM, Internet banking, Mobile banking etc. Standard encryption methods systems are adopted by the banks to protect the customer’s information. ATM Safety PIN software are also introduced by the banks to protect the customers The main aim of the study is to identify the various problems and overcome measure in banking technologies.
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References
Avasthi, G.P. and Sharma, M. (2000-01). ‘Information Technology in Banking: Challenges for Regulators’. Prajanan. XXIX(4). 17.
Sanjay kumar dhanwani, Recent Treands in Indian Banking Industries, Journal Of Research In Commerce & Management, Volume No. 2, Issue No. 3
Sunitha Agrawal and Ankit Jain, Technological Advancement In Banking Sector In India: Challenges Ahead, Journal Of Research In Commerce & Management, Volume No. 2, Issue No. 1.
Sawant.B.S, (2011) Technological Developments In Indian Banking Sector,Indian Stream Research Journal , Vol. 1, Issue. IX, Pg No- 1-4
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