INFORMATION TECHNOLOGY’S EFFECTS ON THE BANKING INDUSTRY

The banking industry is incredibly significant and critical. Information technology is the term for the use of computers to gather, process, store, and disseminate various kinds of information. An essential framework for obtaining and developing IT to accomplish strategic goals is information technology architecture. The banking sector has transformed from a paper- based and branch – based model to aa digitized and networking banking service as a result of emerging technology. All banks now use a different accounting and management system thanks to technology. Using telebanking ATM’S, internet banking, mobile banking, and e-banking, the branches operate on a 24-hour-day basis. This study aims to investigate the link between consumers and the adoption of new technologies in the banking industry. How they use it and are aware of it. The Reserve Bank of India acquired data from the clients of various banking sectors. It uses a pie chart and a straightforward percentage analysis. According to research, most bank clients utilize the ATMs. The article is one of a select handful that focuses on technology advancement in the banking sector.

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Keywords: Information Technology, Strategic Goals, Information Technology Architecture, e-Banking.


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