Using your phone's internet browser
go to:  qna.rediff.com
Click and drag this link to
the Home icon in your browser.
Q.

What are the benefits of technology in banking sector?

Tags: money, banking sector, technology
Asked by Innocent girl, 01 Feb '13 07:13 pm
  Invite a friend  |  
  Save  |  
 Earn 10 points for answering
Answer this question  Earn 10 points for answering    
4000 characters remaining  
  
    
Keep me signed inNew User? Sign up

Answers (3)

1.

Electronics and information technologies are rapidly changing the banking and financial services industry. Online banking and electronic payment systems are new and this allows customers to check their balance and update and personal information, and the development and diffusion of these technologies by financial institutions is expected to result in a more efficient banking system. This technology offers institutions an alternative and better delivery channels through which banking products and services can be provided to consumers. The decline in cost and increase in capacity of computers, as well as developments in communications technology, have altered not only the way information is transferred but also the cost of processing and storing information.
Answered by iqbal seth, 02 Feb '13 08:29 am

 
  
Report abuse
Useful
 (0)
Not Useful
 (0)
Your vote on this answer has already been received
2.

Operational excellence

The use technology for efficiency doing things Wright in the least amount of time, with the fewest number of errors, and son on.

Major Business Initiatives

The use of technology to support initiatives such as customer relationship management, enterprises resources planning, sales for automation, and supply change management.

Supply change management (SCM)
...more
Answered by anantharaman, 01 Feb '13 08:12 pm

 
  
Report abuse
Useful
 (0)
Not Useful
 (0)
Your vote on this answer has already been received
3.

It is quicker & can be taken advantage at any place in India though having , say, S/B a.c at one place !!
Answered by Nitin Ray, 01 Feb '13 08:06 pm

 
  
Report abuse
Useful
 (0)
Not Useful
 (0)
Your vote on this answer has already been received

Ask a Question

Get answers from the community

600 characters remaining