How is Technology impacting the Banking sector?

Yes, of course, Banking sectors are flourishing in this era, everybody needs cash and to keep that cash you need a secured place that is Bank. Evolution and revolution both are gradual in nature, emerging technologies revolutionising the banking sector at spur. This is also creating ample amount of jobs and banking sector always captures limelight because of the changing trends like cashless, cashback, Zero maintenance charges, asap accounts and other offers. So undoubtedly technology is imposing a strong positive effect on the baking sector.

Thank you.

Hello friends,

In my opinion, technology has impacted the banking industry. As we know that we can do any types of transaction online which is very secure also. We do not have to wait for any types of transaction It has made our life better compared to earlier time. A time is very useful and the bank has understood this already. Digital or online banking maintenance charges is less so it is beneficial for the bank also. Now er have many secure apps also which help for the secure transaction like Paytm, Bhim, tez etc.

To conclude I would like to say that these types of online banking is the best option for the customer as well as the bank.

RBI plus government also like to promote it as it is good for the environment as it is paperless.

Hello friends,

Technology made a tremendous change in banking sector for both customers and banking staffs. Before 10 years everything was manually maintained but now its completely computerized. The technology made customers not to visit banks by providing facilities such as internet banking, UPI based applications, NEFT, RTGS, USSD Codes etc. ,

On the other side for bankers (Core Banking Solutions) CBS was created which made employees to maintain the complete structure of customer database under single centralized repository. Before, to clear one cheque it almost took 7-14 business days but now cheque truncation system (CTS) does that job within fraction of time. It saves time. The technology provides efficient service but still there are problems particularly technology based such as hacking banking servers, hacking customers accounts. Hence banking have to be upgraded to new technology named "block chain technology" which will be more secured and transparency. We have more pros than cons for technological impact in banking sector.

Thank you.

Yeah, technology plays a huge role because if make things more effective and efficient but in other hands, it can be put our life I danger we as people we reliably on it. Specialy in the banking sector is like is our life. Technology is cool but we have people who tracking our account because of this tec that get an update every second.

Technology is like a trend, it goes on changing every day at any time. And we should be proud that we are using these new advancements in our smartphones which we can carry anywhere, and make our work achieve in a smart way. And one of the smarter technology today we are using is banking sector, this made our lives really easier, and every user is smarter using those secure apps, we make our transactions very soon as soon as we know the information in our call within a second. The technology was given the privilege to use applications which are user-friendly.

Thank you.

In my opinion, Technology has taken dignified position in banking sector in doing all the transactions at a single window. Over the last few years, more than 10 Cr users have connected with banking services and it all happened due to new technological advancement that is being adopted by each bank towards a quick upsurge.

Since Net banking and Mobile banking options are introduced for users, the process of transferring money has become easy.

In my point of view, technology plays an important role in the banking sector. Some negative impacts are faced by the sector but there is no effect on the banking operations because the technology have the solutions to overcome this type of negative impacts facing the banking sector. The technology came to the banking sector transaction are more transparent and smooth. And it also helps to reduce paper work and improve speed operations. This will help the sector more customer oriented and also increase more deposit. The customer is well satisfied with the technological advancements.

Hello, I am Bavita.

In my point of view, Technology plays a major role in the banking sector. Technology in banking sector helps to
- create transparency in the transaction
- make transaction fast and smooth and secure.
- reduce paper requirements
- make us smarter.

Due to the technology, we can make a transaction within a second any time any days. We can pay an electricity bill, and many other facilities. There are many app like payatm, bhim which is very secure app. This is secure because before every transaction they ask for secret password and OTP. There is transparency means we can get every detail of transaction by this technology, when and who and from where the transaction is made we can get every detail within a second. And RBI keeps every detail of bank also. So technology makes the banking sector more transparent. Due to technology, paper requirements will be decreased, hence environment will be more healthy.this will also decrease the no of black holders and black money and corruption so technology has a good impact on the banking sector.

Good Evening Friends,

According to me, Nowadays technology is very improved. Especially for banking system was improved by the technology development. Security of the banking process well performed.

Even though there are some illegal issues and corruptions done by the some peoples. Recently, there are many problems and scam in the banking. So technology will be helpful for peoples as well as it is leads to corruptions for scamp.

Dear friends, this topic is very interested. TECHNOLOGY impacting BANKING in various ways. In some way it is more and more useful as in urgent withdraws, for transferring money to other accounts, to keep them safe and finally giving various chance to people who need money. So we have to follow using technology is in good purpose. Which is useful to our SOCIETY as a whole of our Nations, states, world.