Future of Banking Industry Information Technology Essay
The Indian banking system. sector was introduced the RTGS, mobile banking, digital wallets, UPI, Blockchain technology, computers, cloud banking, wearable technology, omnichannel banking, the point of. The article contributes to a better understanding of the. future of banking, and provides a framework for scientific empirical research. In the. Four possible strategies are suggested during the discussion. Financial technology, commonly referred to as FinTech, is a rapidly growing sector that is transforming the traditional practices of banking and financial services. It includes innovative technologies such as artificial intelligence, machine learning, blockchain and big data analytics. This progress has led to four clear themes. The future of banking will be invisible, connected, insight-driven and purpose-driven. banks will be: invisible. Leading banks will use technology and much more deeply. The use of mobile banking and internet banking is beneficial for both the banking sector, telecom sector and the customer, in this age of technology. Requirements for customer satisfaction, customer retention, timely and convenient services, accessibility, availability and cost-effectiveness are the challenges of the banking sector. Here is a quick check of the key factors: Transformation in banking: The advent of new technology-driven payment methods such as digital currencies, blockchain and distributed ledger systems have enabled the adoption of fintech financial technology. Willingness to adopt: the last time payments were made via digital methods, Upcoming in Bančni vestnik: BANKING SECTOR AT THE CROSSPOINT: CHALLENGES FOR THE FUTURE The future of banking: the role of information technology Marko Jakšič Matej Marinč September, This article analyzes how information technology IT transforms individual banks, RC Agidi, Biometrics: The Future of Banking and Financial Service Industry in Nigeria, International Journal of Electronics and Information Engineering, vol. 9, no. 2, pp. 91-105, 2018. This also ensures the holistic development of the community as a whole. Like every other service and sector today, the rapid advancement of technology will bring giant leaps in the banking sector and also lead to various future domains in the near future. The Indian banking system is the early adopter of the disruptive direction in which the digital banking vehicle is moving. This is evident from a study by e - Marketer, an American company. market research firm, the number of smartphone users in India. By the. DBS has scaled up its quest for intelligent banking – a holistic approach that combines predictive analytics, AI ML and customer-centric design to transform data into hyper-personalized 'nudges' that guide customers to make more informed banking and investment decisions. Today. of the bank's private and wealth customers. Download PDF. The Future of Jobs examines how jobs and skills will develop over the next five years. This fourth edition of the series continues the analysis of employer expectations to provide new insights into how socio-economic and technological trends will shape the workplace of the future. Economy, health and,