"IMPACT OF INFORMATION TECHNOLOGY ON BANKING BUSINESS, AN ANALYTICAL STUDY"

Abstract

Due to the Information Technology known in Banking business, mainly using internet, extranet and intranet etc. in Banking, through electronics, Banking and their customers complete all their transactions using computer and do all the records of paperless transaction in computer. All the computers in the country or the world are connected by internet so any person in the country can contact the bank from any location, pay, withdraw, transfer money, tasks are completed on time, there is more transparency in the transaction, valuable time of customers is not wasted, employee on Work stress is reduced, search farm inspection is faster, less staff and more profit etc. Information technology has made the banking process faster and more reliable than ever before and the maintenance and retrieval of documents and records has become faster and easier. Technology creates competition in competitive industries and provides better customer service. That is, information technology has had a positive effect on the lucrative business. Overall, information technology has made the financial services more convenient, efficient and personalized and has led to significant growth and progress in the banking industry.