How is Technology impacting the Banking sector?

Olden days we used stand on big lines to get money or to deposit. But the technology changing in a very big way.

On the positive side, there is drastic impact like we can transfer funds quickly, check balance, ECS services and many other services through internet banking and mobile banking. On the other hand, we can fear about the security of our money.

I am in favour of this topic.

Because, nowadays we are using all our transaction via the internet and the mobile phones. So we can't able to waste our time by standing in a queue and we can make all our transaction, bills within 5 mins. So these technology helps to the human.

So, the technology has been one of the most important factors for the development of humanity, and this growth has been strongly supported by the development in the field of technology that changing our lifestyles.

In olden days there is no mobiles so we are going to banks stand on big lines to get their money or deposit but nowadays the problems can easily solve. Because day to day, technology improves. Each and everyone having mobiles in our mobiles they can easily transaction our money, paying electricity bills each and every one there should be done in our mobiles. That's why there is no standing in front of banks. It's can be done in easily your homes. So our time will not be the wasted within 5min it's to be our work will be completed.

Yes, of-course Technology is very much needed to handle the increasing number of transactions with utmost accuracy. It is reducing the work burden of handling ledgers when compared to olden days. Sometimes you will appreciate the old system of taking money across the counter where hackers overtake the loopholes in technology. Now, we have to think about how best we can design our hardware to protect the hacking from all sorts of banking.

This is the good topic towards our society. Day by day our technology are improving and everyone follows up on the scientific world. Likely technology has been developed our banking sectors also. In my point of view banking sector fully computerized. Even uneducated people also learning new things due to our technology improvement. Within second, we are transferring big amount, we are shopping using our debit cards. We are taking amount from atm during our difficult situations without going to bank. Now we are standing almost edge of developed country.

Technology very first growing in the world new technology new fetuses it is good. But we are forgetting village area. New technology did not reach villages are. First thing reached villages area everyone used urban area. Villages people do not use in our country. How to operate technology. Banking sector technology are very important now a day don't have a time, so transacting system easy to proceed net banking mobile banking easy to transaction account to account.

Hello to all.

As we seen around us due to technology in banking sector, the banking sector growing faster. So technology is best for banking and have lots of positive impact by technology in the banking sector.

Due to technology, transactions are fast. Complicated calculations solve within a seconds. And most important thing is that accuracy and handling of thousands of accounts are possible. And it is impossible to handle this large number of account with bounded time. As well as if we talk about the accuracy. Due to technology in banking sector the accuracy and transparency is also increased. So today we need technology in banking sector. And this is all the positive impact in the banking sector. Thank you.

Yes, I think technologies gives us the new modern method to solve any type of banking problems very easily.

Technologies in banking sector providing the secure environment of transactions of customers. Many years ago the transaction problems are solved easily.

Technology is helping banking sector a lot. For example take the case of net banking. Without going to bank we can track the total amount present in our account. We can do transaction at home within few seconds. Gone are the days when we used to withdraw our money from bank and then use it for any purpose.

Suppose we are seeing something online and we wish to buy it we just need to type our atm card number and thus the purchase is completed. Thus with banking sector updating its technology it's all beneficial to the common people. But as we know there are always two sides of a coin. With many good advantages, there are disadvantages also.

With several sites through which we do transaction are not safe. Hackers have become so active and a little mistake from our side can cost us a fortune. There were several incidents in which people did their transaction online and somehow hackers stole a large sum from their account. These are ill effects of online banking.

More security is what we need right now so that people can transact online without any fear. Government needs to have strict policies on hacking and department related to this should keep an eye on hackers.

Yes, its true that technology is impacting a lot in banking system. As due to that long queues in front of teller is now a old school fact. Working become fast, transaction either nationally or internationally is just a piece of cake. Also as all accounts are electronically monitored no fraud of black money and illegal accounts can take place which plays a very great role indirectly in uplifting country's economy.