IT Evolution in Global Banking - Essay Example

Extract of sample
IT Evolution in Global Banking

The customers can also access their bank accounts, withdraw cash, pay bills, get bank statements, deposit cash and even buy products without having to visit their bank branches. Indeed, what technology has facilitated is the reduction of physical conduct between the customer and the banker bringing in a new phenomenon known as virtual banking. Information technology can offer a bank a competitive edge over other banks (Singer, Ross & Avery 2005) The internet invention was the greatest breakthrough for banks in carrying out their transactions with customers (Wanderi 2012). As internet access is enhanced, more and more banks are turning to online banking services. Such services are more convenient to customers and the banker, they also save time and costs and increase efficiency. Banks that do not adopt technology are likely to be unpopular among the customer base. Automated teller machines, television banking, virtual banking, internet banking, mobile banking, online pay bill, mobile commerce, social media payments, credit cards and debit cards are some of the examples of how technology is changing the banking industry (Kendrick 2011). ...Show more

Summary

IT evolution in Global Banking Insert Name Insert Grade Course Insert Insert Date Introduction Developments in information technology have brought new opportunities for banks. Information technology has facilitated banks to efficiently reach customers all over the world with less overhead costs…
Author : blind
IT Evolution in Global Banking essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"IT Evolution in Global Banking"
with a personal 20% discount.
Grab the best paper

Related Essays

Evaluate the reasons for the recent global financial crisis. ( Banking and Finance Moudle)
As a result, lending and investment in reliance on the weak macroeconomic model eventually culminated in a domino effect triggered by the collapse of the US housing bubble; which further raises questions about increased government regulation of the finance industry going forward.
8 pages (2000 words) Essay
Banking and international banking system
The global crisis shook the very foundations of financial institutions and the stock market as share prices for small and large investment banks dropped significantly between mid 2007 and first quarter of 2008. Financial institutions lost nearly a third of their value in less than one year.
8 pages (2000 words) Essay
Evolution of Global Cultural Industries
The operating features of these networks rest on their twice-faceted disposition as congeries of numerous small organisations mutually with more constrained associates of large institutions, the latter, more often than not, forming components within even larger commercial conglomerates.
8 pages (2000 words) Essay
Banking and ICT's
The use of ICTs by global bankers is crucial to access real-time information, anytime and anywhere. In their remote mobility, banking experts may experience technology failure or difficulties in accessing information services. This inability of the banking mobile experts in utilising ICTs could have serious consequences in terms of risk on the bank operations and profit.
10 pages (2500 words) Essay
International Banking &finance
The afflicted countries all saw imports drop to very low levels as expanding debt, higher import costs, and a breakdown in the economy squeezed local consumers. Bank credit has since recovered in a number of countries, and there have been significant changes in banking structure, performance and risk management capacity.
4 pages (1000 words) Essay
Evolution Of Global Cultural Industries
The researcher of this essay states that since 1985, a purported global cultural economy has progressively mounted to distinction as a spotlight of employment and output development in practically all the main capitalist societies, these systems are much given to high echelons of organisational and technical elasticity.
8 pages (2000 words) Essay
Islamic banking
, I agree to an entire electronic copy or sections of the Project to being placed on Blackboard, if deemed appropriate, to allow future students the opportunity to see examples of past Projects. I understand that if displayed on Blackboard it would be made available for no
22 pages (5500 words) Essay
Banking finance
ttp://books.google.com/books?id=plbBqZ9WIbUC&pg=PA67&dq=banking+and+emerging+markets+and+financial+crisis&hl=en&ei=EOiRTO-CMI_eOMHfuYsH&sa=X&oi=book_result&ct=result&resnum=2&ved=0CDUQ6AEwAQ#v=onepage&q=banking%20and%20emerging%20markets%20and%20financial%20crisis&f=false http:/
10 pages (2500 words) Essay
IT Evolution in Global Banking
Technology in the recent past has allowed customers to open accounts even when they do not have banks within the adjacent vicinity. The customers can
5 pages (1250 words) Essay
Global Banking Operations and Strategy
In this section of the paper the financial position of Royal Bank of Scotland (RBS) is analysed by applying CAMELS approach. RBS has to ensure that their depositors do not lose their confidence on the bank which may lead to bankruptcy
5 pages (1250 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT