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I don't know how detailed you need the answer so I can give you a fairly brief one. A disadvantage from my personal perspective in this line of work is that IT provides mass collaboration with customers/partners/businesses in a real time setting allowing the passage of funds/transactions instantly. With such fast communication it is hard to verify if said transactions are real or said customers/partners/businesses are real until after losses have incurred or a strong relationship has been built. We no longer have to look customers in the face in order to transact. You only need a computer. Therefore there is always the risk of false identity and stolen accounts. The last disadvantage is that banks rely and partner up with other banks especially in the international markets. You are trusting that their Compliance is up to snuff as well as their security because depending on how the relationship is layered a simple database breach could level the bank(s). I hope that makes sense.
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∙ 13y ago
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Which information technology is uses in banking sector and why?
Technological advancement in the banking sector increases the productivity and security in this industry. New technology like online banking, mobile banking, telebanking, ATM/Debit card and credit card has led to the advancements in the payments and settlement systems. Even nowadays banking companies like SBI, ICICI, Axis bank and more are launching their apps for easy usage. For more information visit our website TECHSAGA.
What are the advantages and disadvantages of green BANKING?
no
How has technology impacted on the banking sector?
Electronics and information technologies are rapidly changing the banking and financial services industry. Online banking and electronic payment systems are new and this allows customers to check their balance and update and personal information, and the development and diffusion of these technologies by financial institutions is expected to result in a more efficient banking system. This technology offers institutions an alternative and better delivery channels through which banking products and services can be provided to consumers. The decline in cost and increase in capacity of computers, as well as developments in communications technology, have altered not only the way information is transferred but also the cost of processing and storing information. To bring services closer to a customer and to guarantee the opportunity to use them anytime a customer wants to, have been the most important targets in banking during the last twenty years. The continuing development of more and more complicated back-office systems would not have been possible without information technology.
Advantages and disadvantages of banking sector?
n
What are the advantage and disadvantages of core banking?
advantages are it may be convinient for customers,time saving,better management and disadvantages are that the technology must be upgraded every time and if some errors occur in some part whole system may be disrupted
What are the disadvantages of information technology from the library staff?
What is the disadvantages of information technology
What are the disadvantages of operating systems?
what are the disadvantages of operating systems effects of information technology
Use of information technology in the banking sector?
Computing and information technology has effected and essentially revolutionised the banking industry within a broad variety of ways, it has allowed the use of credit cards to be broadly used upon the banking spectrum and has reduced the amount of 'Physical' money drastically. Did you know now less then 8% of the world money is actually physical the rest is virtual money stored upon accounts and so on!
What is banking technology?
Banking technology is software and technology used within the banking industry. The right technology and software can create a competitive advantage for some banks.
What is the future scope of Accounting in Nepal?
is information technology is higher valuation than banking and finance
What are Disadvantages of applying information technology in hospitals?
these are theDisadvantages http:/sourabh-forex.blogspot.com
What are disadvantages of electronic banking?
The disadvantages of electronic banking are that there may be security concerns when banking online. There also is less customer service if you encounter a problem with your account.
Which information technology is uses in banking sector and why?
Technological advancement in the banking sector increases the productivity and security in this industry. New technology like online banking, mobile banking, telebanking, ATM/Debit card and credit card has led to the advancements in the payments and settlement systems. Even nowadays banking companies like SBI, ICICI, Axis bank and more are launching their apps for easy usage. For more information visit our website TECHSAGA.
Is it possible for a technology or computer expert to access information provided for a security survey for online banking?
No that would be illegal
What are the advantages and disadvantages of green BANKING?
no
What does the role of information technology do for them?
In today's world banking sector is inseparable from information technology. IT play important role in banking and financial institutions. It helps with better market infrastructure, a tool to analyze and control risk, and more. It also helps banks and financial institutes to reach geographically distant and diversified markets. Information Technology helps banks by increasing productivity, better market infrastructure, controlling risk, and more. For more information visit our website Techsaga.
What are some of the advantages and disadvantages of technology?
Before we can know about all the advantages and disadvantages of information technology, it is essential that we know what information technology is exactly, and why it has it come to play such a important role in our daily lives. Today information technology involves more than just computer literacy; it also takes into account how computers work and how these computers can further be used not just for information processing but also for communications and problem solving tasks as well.
