Nobody downloaded yet

Impact of Information Technology on Banking Systems - Term Paper Example

Comments (0) Cite this document
The banking industry has taken on the most recent technology, which has provided banks’ clients with easy and quick banking services. This paper discusses the current state of information technology and the general impacts that it has on the banking system…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER93.3% of users find it useful
Impact of Information Technology on Banking Systems
Read TextPreview

Extract of sample "Impact of Information Technology on Banking Systems"

Download file to see previous pages The paradigm and framework within which banks deliver their services has changed beyond identification as banks fine-tune to societies’ changing needs. In fact, changes in technology have had a great impact on banks such that apart from the changes that the society’s changing nature cause directly, changes in technology are the most significant changes to have taken place in this industry. Banking and technology are so inter-twined that it has become almost impractical to think of one without the other. Technology drives the banking industry forward and in the modern world, through devising new low-cost payment systems and delivery channels, banks use it as an innovative customer-service delivery means. Banks no longer use technology merely to automate processes but use it as a revolutionary service delivery means to their clients (Panwar 5). This paper discusses the current state of information technology and the general impacts that it has on banking system.
According to Agboola, Information Technology, abbreviated IT, refers to the mechanization of information production controls and processes by means of telecommunications; software and supplementary equipment including debit cards and automated teller machines (ATMs); and computers. In general, the term covers electronic technology harnessing for a business’ information needs at all levels. Panwar defines banking technology as the use of intricate communication and information technologies in conjunction with computer science to make it possible for a bank to maintain competitive advantage above other banks, even as it provides its clients with superior services in an affordable, reliable and secure manner. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(Impact of Information Technology on Banking Systems Term Paper, n.d.)
Impact of Information Technology on Banking Systems Term Paper. Retrieved from
(Impact of Information Technology on Banking Systems Term Paper)
Impact of Information Technology on Banking Systems Term Paper.
“Impact of Information Technology on Banking Systems Term Paper”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Impact of Information Technology on Banking Systems

New Information Technology Systems Speciation

.... For this purpose, I will perform SWOT and Porter’s Model analysis techniques to investigate the impact of this implementation: 6.1- SWOT Analysis The SWOT analyses of the new technology system implementation will offer a detailed overview of strengths, weaknesses, opportunities and threats: 6.1.1-Strengths This system will standardize the overall business operations and management processes. These systems will automate the overall business operations and will help the management to easily deal with business data and information. 6.1.2-Weaknesses The main weakness behind this technology implementation is need for the...
18 Pages(4500 words)Essay

Three Information Technology Systems

...? Criminal Justice Three Information Technology Systems (100-150) Understanding how to successfully use technological systems is essential for the success of any police department in combating crime in their city. The utilization of mapping systems which show at a glance where certain types of crime may be occurring is important when deciding where to put certain amounts of patrol units so that the presence will discourage and prevent further crimes and to also solve them at the same time. When investigations are conducted into crimes and fingerprints are recovered, it is very helpful to have access to the database...
4 Pages(1000 words)Assignment

Information, Information Technology and Information Systems

...of Information, Information Technology and Information Systems 06 June 2006 With the increasing demand of competition in the market at present, the company's interest must necessarily be protected to insure sustainability amidst an erratic economy. Such can be possible with the help of Business Intelligence software that not only safeguards the interest of the firm, but likewise facilitates efficiency for both the product and personnel. With the availability and use of modern technology, a product can achieve stability and edge in the market with careful monitoring of its movement coupled with bold yet strategic maneuvers. This is true...
3 Pages(750 words)Essay

Information Systems and Technology

...of technology that cuts maintenance, and retailing costs. In the long term the impact of IT in on continuously improving structure and working conditions. This in time leads to whole industry change such as the change to automatic teller machines used by banks. - Information systems are used to foster innovation, by encouraging a free flow of ideas in a large complex organization. Thus, information systems can offer support to the human "intellectual capital". "Cisco uses internet conferencing systems to discuss products and networking solutions. Individual stakeholders, both employees and customers can...
8 Pages(2000 words)Case Study

Human Resources Information Technology Systems

...decision making while facilitating data input required for daily business operational functions such as payroll, benefits, etc. The following proposal will align the development of new Human Resources Information Technology Systems with goals of reduced manhours, smoother data input, and greater data accessibility and accuracy. Need: Presently, low level data input is being accomplished by high level employees thus wasting the time of those personnel; i.e. simple data input that the employee him/herself could input on a real time basis is now being input from paper records by HR personnel. This generates repetitive, time wasting tasks and introduces more chances for data errors and...
7 Pages(1750 words)Research Proposal

Comair's information systems and information technology

...more better user interface and working performance. This will enhance the overall scheduling of the AirCrews operations. 0The new AirCrews operations scheduling system will integrate the state of art technology for the efficient management of the organizational information and better payroll assessment. For the development and accomplishment of the new AirCrews operations scheduling system Comair’s IT department has requested SABRE, SBS, and other vendors to make obvious crew management systems in late 2002. But the airline did not consign to a new solution at that time because of cost concerns. Then after that there are several problems have come out...
10 Pages(2500 words)Essay

Information Technology and Information Systems for Business

...of 2009. With 11 personal stores in Finland and 2 in St. Petersburg, NA aims to establish Finnish fashion internationally and for this they need to take steps to compete in the world’s fashion industries (Naisten Pukutehdas Oy 2010). b. Project Information The project involves a proposed system of embedding RFID tags into the products of the company for a better customer experience and benefits of low-cost and an increased market. The implementation of this proposal will require subtle changes in the system including training the employees to learn using the new technology and assisting customer in enjoying the facility. It requires purchasing equipment from the...
4 Pages(1000 words)Essay

Information Technology in Global Banking and Finance

... sector or it has left banking to cope with serious threats would be answered. REFERENCES 1. Alawode, John, A & Kaka, EU 2008, Information and communication technology (ICT) and banking industry, African Society for Scientific Research (ASSR), viewed 30 December 2012, <> 2. Anyasi, FI & Otubu, PA 2009, Mobile phone technology in banking system: Its economic effect, Maxwell Scientific Organisation, viewed 30 December 2012, 3. Ho, SJ & Mallick, SK 2006, The impact of information technology on the banking industry: Theory and empirics, viewed 30 December 2012, <> 4. Ombati, TO, Magutu, PO & Nyamwange, SO 2010... can be defined as a productive combination...
2 Pages(500 words)Research Proposal

Systems Integration in Information Technology

...Submitted too: Kaiser Permanente: System Implementation Breakdown 2006-2008 Integrated Practice and Group Accountability in Health Information Technology.: A PAPER SUBMITTED by:: Author’s Note Abstract: Kaiser Permanente, comprising the Kaiser Foundation Health Plan, Kaiser Foundation Hospitals, and Permanente Medical Groups is the largest nonprofit integrated health care delivery system in the United States. Kaiser Permanente has pioneering experience in information technology in health care for more than 40 years to improve clinical and administrative functions. Its use of electronic health records (EHRs) dates back to the 1990s. Kaiser...
2 Pages(500 words)Research Paper

Athens State Information Systems and Information Technology

... Athens State Information Systems and Information TechnologyTechnology has brought great transformation not only in business but also in today’s education system. The traditional classrooms of bricks as well as mortar are long gone. The college students has also been modernised by technology whereby they only need a computer and have access to internet in order for them to access class sessions. Technology has replaced the old college classes to digital classroom. Athens State University is one of the Campuses that have adopted the use of technology in delivering services to students....
4 Pages(1000 words)Research Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Term Paper on topic Impact of Information Technology on Banking Systems for FREE!

Contact Us