How is Technology impacting the Banking sector?

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133 comments Page 13 of 14.

Sriram.V said:   7 years ago
Yes, Due to the impact of technology, people became educated, they became curious in learning things, the people become more alert about the crimes, presently demonetisation gave a good direction about level of crimes occurring in our country. These things make people take tough decisions in their pursuits. Sooner or Later, there is a chance of achieving 100% literacy rate in India. This makes individuals coming with new ideas with a better approach to a problem. In a recent issue, an economist stated that "India's democracy, confers long-term benefits. India can change the government without a revolution. In the long run that may offer a better guarantee for that business crave".

Naina said:   7 years ago
Technology is effectively impacting the banking sector too.

Before technology, all work will be done on a paperwork. They are lots of information which will be done in paper site only. If common people have some difficulty and have some related work in a bank they are in queue. But now technology improve the quality of services. There are lots of data if entered to the database then there was only need to update within in a single minute.

Since technology is in banking sector it will there are no of services provided to people online such as transaction. Payment. For business purposes transaction, many to us.

Thus in my opinion towards we have to be a good idea to implement the technology to the banking sector.

Thank you.

R P Singh said:   7 years ago
Technology is Backbone of Banking Sector. Customer can think of not visiting Bank but can not live without banking. Technology made banking so easy be it Online Account opening, ATM, Internet Banking, Interactive Call Center etc. With the help of technology in the Banking, Bank has reached the door of customer and Customer can do everything online nowadays. With the encouragement from Government towards digitization, Bank contributes more in the front of digitization by offering all services online.

On conclusion Technology improves efficiency in the operation, helps in mitigating risk, improving internal control that helps bank to provide better customer services.

Now concept has come to be completely become digital bank and here with the help of technology, it is possible.

Ashish said:   7 years ago
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.

Niza said:   7 years ago
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.

Adi said:   7 years ago
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.

Bhagwat raut said:   8 years ago
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.

Aryen said:   8 years ago
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.

Santhiya said:   8 years ago
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.

M Ramu said:   8 years ago
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.

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