IT in Banking Sector

Information Technology (I.T.) has played an important role in various industries. In this article we will discuss about how it has been playing a vital role in Banking Sector or Banking Industry.

Internet Banking refers to doing all the activities without going to the physical bank. In today’s era most of the Banks are working Online, all its transactions can be done through net banking. It has made our daily activities very easy; as one can conduct all their financial transactions online from anywhere around the world using a secure website. It can be done through Computers, Laptops and cherry on top with mobile devices as well. Mobile Banking is the best technology that has been developed as majority of the population are using Smart phones this days, so the activities can be easily carried on.

We can do many transactions through e -banking and it is helpful for both the customers and bankers as well. It is beneficial in following ways –

  1. We can do various bill payments from our credit and debit cards.
  2. We can book various tickets like movie tickets, railways, air tickets, etc.
  3. One can do shopping through their debit and credit cards.
  4. One can transfer funds from one’s account to another’s account being in any part of the world. Even a small or lager amount can be transferred in minutes.
  5. Even ATM facility is the best and most used technology used by the card holders.
  6. Bankers can inform their customers about their various products through emails.
  7. Bankers can market their products or services easily through email marketing to their direct and new customers.
  8. One can check their account history or mini statements.

Online Banking has changed the whole experience. Even there are some banks that have created their mobile applications, which are available on different mobile operating systems. This indirectly helps the Mobile Application Development companies to get new customers.

Ecommerce has been benefited the most with net banking facility provided by banks. E commerce Solutions are all about shopping online so even payments are to be done online, which is possible through online banking facility.