Banks have increasingly adopted computerization and new technologies to improve relationships with customers. This allows banks to provide more convenient and effective delivery of banking products and services. Major applications of technology for customers include self-inquiry facilities through mobile apps and online banking, remote banking access, ATMs for anytime banking anywhere, telebanking, and electronic banking. For banks, technology provides inquiry facilities to support business development, allows managers to immediately answer customer queries, automates tasks like standing instructions and report generation, and enables faster decision-making through interconnecting computerized branches. The widespread adoption of new technologies in banking has brought enormous changes with significant impacts on officers, employees, and customers.
Banks have increasingly adopted computerization and new technologies to improve relationships with customers. This allows banks to provide more convenient and effective delivery of banking products and services. Major applications of technology for customers include self-inquiry facilities through mobile apps and online banking, remote banking access, ATMs for anytime banking anywhere, telebanking, and electronic banking. For banks, technology provides inquiry facilities to support business development, allows managers to immediately answer customer queries, automates tasks like standing instructions and report generation, and enables faster decision-making through interconnecting computerized branches. The widespread adoption of new technologies in banking has brought enormous changes with significant impacts on officers, employees, and customers.
Banks have increasingly adopted computerization and new technologies to improve relationships with customers. This allows banks to provide more convenient and effective delivery of banking products and services. Major applications of technology for customers include self-inquiry facilities through mobile apps and online banking, remote banking access, ATMs for anytime banking anywhere, telebanking, and electronic banking. For banks, technology provides inquiry facilities to support business development, allows managers to immediately answer customer queries, automates tasks like standing instructions and report generation, and enables faster decision-making through interconnecting computerized branches. The widespread adoption of new technologies in banking has brought enormous changes with significant impacts on officers, employees, and customers.
Banks have increasingly adopted computerization and new technologies to improve relationships with customers. This allows banks to provide more convenient and effective delivery of banking products and services. Major applications of technology for customers include self-inquiry facilities through mobile apps and online banking, remote banking access, ATMs for anytime banking anywhere, telebanking, and electronic banking. For banks, technology provides inquiry facilities to support business development, allows managers to immediately answer customer queries, automates tasks like standing instructions and report generation, and enables faster decision-making through interconnecting computerized branches. The widespread adoption of new technologies in banking has brought enormous changes with significant impacts on officers, employees, and customers.
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To build good relation with the customers we need different ways related to
computerization which are categorized into a three-dimensional view - to the
customer, to the bank and to the employee. Also we have to maintain user friendly Technology for Banks Transformation. Computers are getting more sophisticated. They have given banks a potential they could only dream about and have given bank customers high expectations. The changes that new technologies have brought to banking are enormous in their impact on officers, employees, and customers of banks. Advances in technology are allowing for delivery of banking products and services more conveniently and effectively than ever before - thus creating new bases of competition. Rapid access to critical information and the ability to act quickly and effectively will distinguish the successful banks of the future. The bank gains a vital competitive advantage by having a direct marketing and accountable customer service environment and new, streamlined business processes. Consistent management and decision support systems provide the bank that competitive edge to forge ahead in the banking marketplace. Major applications For the customer. Banks are aware of customer's need for new services and plan to make them available. IT has increased the level of competition and forced them to integrate the new technologies in order to satisfy their customers. They have already developed and implemented a certain number of solutions among them: Self-inquiry facility: Facility for logging into specified self-inquiry terminals at the branch to inquire and view the transactions in the account.eg, Mobile App,Net banking
Remote banking: Remote terminals at the customer site connected to the
respective branch through a modem, enabling the customer to make inquiries regarding his accounts, on-line, without having to move from his office. Anytime banking- Anywhere banking: Installation of ATMs which offer nonstop cash withdrawal, remittances and inquiry facilities. Networking of computerized branches inter-city and intra-city, will permit customers of these branches, when interconnected, to transact from any of these branches.
Telebanking: A 24-hour service through which inquiries regarding balances
and transactions in the account can be made over the phone. Electronic Banking: This enables the bank to provide corporate or high value customers with a Graphical User Interface (GUI) software on a PC, to inquire about their financial transactions and accounts, cash transfers, cheque book issue and inquiry on rates without visiting the bank. Moreover, LC text and details on bills can be sent by the customer, and the bank can download the same. The technology used to provide this service is called electronic data interchange (EDI). It is used to transmit business transactions in computer-readble form between organizations and individuals in a standard format. As information is centralized and updates are available simultaneously at all places like social media Facebook,twitter single-window service becomes possible, leading to effective reduction in waiting time. For the bank. During the last decade, banks applied IT to a wide range of back and front office tasks in addition to a great number of new products. The major advantages for the bank to implement IT are: Availability of a wide range of inquiry facilities, assisting the bank in business development and follow-up. Immediate replies to customer queries without reference to ledger-keeper as terminals are provided to Managers and Chief Managers. Automatic and prompt carrying out of standing instructions on due date and generation of reports. Generation of various MIS reports and periodical returns on due dates. Fast and up-to-date information transfer enabling speedier decisions, by interconnecting computerized branches and controlling offices.
