Impact of Information Technology on Banking Industry (Doc)
13 Pages3916 Words198 Views
Added on 2020-07-23
Impact of Information Technology on Banking Industry (Doc)
Added on 2020-07-23
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Literature Review
Table of ContentsLITERATURE REVIEW................................................................................................................1Abstract............................................................................................................................................1Introduction............................................................................................................................1Description of Problem Area..................................................................................................1Significance of study..............................................................................................................1Aim of review.........................................................................................................................1Review Questions...................................................................................................................2METHODS......................................................................................................................................2Research findings.............................................................................................................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
LITERATURE REVIEWAbstract In this present time period, information technology is a needs in a each and every aspectof life. In the banking system, an information technology has develop a great essence. The mainaim of this study is to investigate an impact of information technology on the banking industry.With the help of technology, form can take information or data about the customers as well asstaff members. In the banking industry, information technology contributes more in many wayslike for an instance it helps in saving the times as well as cost. With the help of InformationTechnology, banking industry can do its financial transactions in an effective and systematicmanner. IntroductionIn today's business era, information systems are one of the most essential elements for survivaland growth of every enterprise. Every sector of industry is totally dependent on this formanaging data and huge amount of relevant information. From small, medium to large, everypowerful business such as street banks, local and central government are taking help ofinformation system to regulate and control the data. One of the main benefits of usinginformation systems is that it helps enterprise in storing huge amount of data with security. Allthis helps and support in effective execution of business activities. Various benefits of usinginformation system in banking industry are all discussed in this report. Different views of authorsand requirements of information system at different levels of banks are also given here. Further,security needs for this purpose are mentioned. Description of Problem AreaIn this literature review, problem area is impact of the information system on the BankingSector. The problem can be related to safety and security of Bank.Significance of studyA significance of this study to know about the information system which is used in theBanking industry. With the help of this study, researcher can know about the security system. Aim of review"To identify role and security Measures of Information Systems in Banking Industry" 1
Review Questions1.What is Information system?2.Is Information system beneficial in banking?3.Is this Information System helping in providing the security to Banking Industry?Being in a service sector, banks are required to store huge amount of data in order toprovide better and effective services to its customers and to gain competitive advantage. As perthe point of views of Layton, 2016, banking technology refers to the use of data and variouscommunication technologies together to make the banks able to offer better to all its customersin an affordable and reliable manner. METHODSBanking technologyLees, 2012 concludes that adoption of effective technology provides a large number ofbenefits to banks such as fast customer service, enhanced productivity, increased profits,flexibility, cost saving, 24x7 services and many more. As per the views of Willcocks, 2013, use of information technology refers to use ofcomputers, has seen a marvellous growth in service industry in recent years. Banking industry isone of the most obvious examples of this in which introduction of products related withinformation technology in electronic payments, internet banking, security investments,information exchanges, banks can offer more diverse and effective services to all it customerswith less manpower. Kouns and Minoli, 2011 conclude that investment in information system may bedescribed as the acquisition of any kind of hardware and software which helps in expandingbusiness operations and providing various benefits to business along with this, provide variouslong term advantages to company. Technology in banking sectorKavanagh and Johnson, 2017, argued that innovation based on information technology isdivided into four periods such as early adoption (1864-1945), particular application (1945-1965),emergence (1965-1980) and diffusion (1980-1995) as well as two dimensions of progress intechnology in retail banking. These dimensions help in detail the nature of change brought bytechnological innovation. 2
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