ROLE OF INFORMATION TECHNOLOGY IN THE BANKING SECTOR WITH REFERENCE TO E-BANKING MOBILE APPLICATIONS

Abstract

The tremendous advances in technology and the aggressiveness of information technology have brought in a paradigm shift in banking operations. Electronic banking that has revolution in the banking industry worldwide has turned out to be the nucleus issue of various studies all over the world. The researcher has attempted to study the different concepts related to Electronic Banking and mobile applications.  Electronic banking allows you to have transaction comfortably from their remote locations across the world through the use of electronic banking services. New deposit combinations such as 24 hours ATM's, online application submission and online investments and funds information, interactive banking including access to account etc. can be offered. Electronic banking provides competitive advantage to the banks in establishing better customer relationship and retaining and attracting customers.

Mobile or smartphone applications are a new wave in internet banking. Immense efforts have been made by the banks in order to create awareness and encourage usage of these applications among the consumers. The present study makes an attempt to evaluate the extent of awareness and usage of the consumers with regard to e-banking mobile applications.