An Empirical Study on Role of ICT in Banking SectorDownload PDF
Information and communication technology are radically changing the way of business. These changes and development resulted in new delivery of channels for banking products and services such as Automated Teller Machines (ATMs), Telephone Banking, PC-Banking, and Electronic Funds Transfer at Point of Sale (EFTPoS). Many banks are making huge investments in technology to maintain and develop their infrastructure, they not only to provide new electronic information-based services, but also to manage their risk positions and pricing. Over time, usage of Internet has been increased in banks. Their main concern has been to serve clients more conveniently, and in the process increase profits and competitiveness. ICT has been used extensively in banking. Banks have recognized the ICT as representing an opportunity to increase profits and their competitiveness. The study shows how people can make use of ICT in banking. 200 Chennai respondents were taken as sample and the data was analysed and drawn meaningful inferences with the help of various tools such as simple percentage analysis, factor analysis and chi square. The study provides various suggestions for the banks to improve the effective utilisation of ICT in banking.
Key words: ICT, Awareness, Banking, Customers, Internet