How is Technology impacting the Banking sector?

A Few years ago if you have to borrow a money, you can take it only cash but in today in this progressive world, you can do it by your mobiles.

ATM cards also have fast and 24*7 hrs system. Anytime you can withdraw the money or by using the card on mobile apps you can directly pay to someone.

It is good it help people's but not enough that's need some facilities to save a time.

Yes, I think it play a very vital role in today's era because suppose if there is no technology and if we want to go for a trip like a big trips of foreign countries and we are carrying cash with us then it is dangerous for us firstly we think where is the safest place to put it and we can't enjoy our journey as we want. But if we have technology power then we can easily transfer it to other people's account and it is safest for us in case we lost our cards then we are able to block it by which our money is again safe. It gives lots of facilities so through this example I want to say that technology not only plays important role in banking but also in our real life.

It is a good 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.

Hi everyone.

As we know that Technology plays a significant role in the banking sector. The Introduction of IT has been made us able to do ATM transactions, credit/debit cards, interbank cash transactions, MICR in cheques, NEFT, RTGS, etc. Even people in rural areas are also participating more and more and banks are encouraging them to take part in banking culture. Everything has been made so easy that you can send/accept/check your balance from home 24*7.

Every invention comes with its merits and demerits, it depends on us. We choose it as per our suitability or perfectness.

Today, Technology is playing a vital role of every sector. Banking sector also depending on various technology activities such as withdraw and credit money into ATM instead without need to visit the branches. It is a time consuming if money need on every time, we get a money from technology. All people using the advancement no need education, blind people also using biometric ATM it will also helping the way of increasing financial inclusion to visually impaired person. Poor people including the digital via small phone *99#. It is an advantages for all people but only drawback is reducing the employment.

Technology is impacting banking sector drastically. Now days are gone when a person has to stay in a queue for hours for his transections now it can be done even from a room within a minute. In banks, technology has reduced the man work and make bank free from bundles of files.

In my point of view, with the advancement in technology banking sector is improved earlier for even small transactions through banks we have to stand in queue for hours now the same thing can be done while enjoying snacks at home. With the digitization in banking sector precious time of people is saved.

Technology has revolutionized the banking sector, bringing about digital banking, mobile payments, data analytics, automation, and blockchain. It has enhanced customer experiences through convenient access to services, personalized marketing, and self-service options.

Additionally, technology has improved efficiency, fraud detection, and risk assessment. Open banking initiatives have spurred innovation, while cybersecurity measures have become paramount. Overall, technology has made banking more convenient, efficient, and secure, but it also presents new challenges that require continuous attention.

Technology has revolutionized the banking sector, bringing about digital banking, mobile payments, data analytics, automation, and blockchain. It has enhanced customer experiences through convenient access to services, personalized marketing, and self-service options.

Additionally, technology has improved efficiency, fraud detection, and risk assessment. Open banking initiatives have spurred innovation, while cybersecurity measures have become paramount.

Overall, technology has made banking more convenient, efficient, and secure, but it also presents new challenges that require continuous attention.