Technology plays an important role in banking in now days. After coming of economic policy, three concepts are introduced liberalization, privatization, and globalization.
In liberalization all restrictions are removed and in privatization more development of private sectors and in globalization open gates for foreign country.
The introduction of liberalization measure in the banking sector and emergence of private sector and foreign banks equipped with latest technology , increase in competition in banking sector. Technology up gradation is taking place in public sector. It cover more area of operation banks with customer service as the main focus.
- Ø Communication infrastructure and usage of INFINET
- Ø Standardization and Security
- Ø Computerization of government transactions
- Ø Data warehousing , data mining , management information system
- Ø Sharing of experience on technology implementation
New paradigms of banking management
In the 21st century the culture of banking in developing countries is expected to become more complex with the addition of new norms, new skills and process is introduce. E-commerce is an innovative approach to commercial exploitation by moving the business organization to a fully electronic environment of the information age.
- Ø Electronic Asset-liability management
- Ø Knowledge management
- Ø On line banking
- Ø Offshore banking
- Ø Banking resource planning
- Ø Risks and security issues
- Ø Socio technical constituency
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3 Comments. Leave new
what is online and off shore banking?
It is vague! Could’ve explained more..
not that good …