An Exploratory Study on Usage of Technology in Banking Sector | Abstract

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Research Article Open Access

An Exploratory Study on Usage of Technology in Banking Sector

Abstract

In today's hi-tech world technology support is very important for the successful functioning of the banking. This research focuses on the usage of technology in banking sector. Today banks are the backbone of the Indian economy. Banking in India originated in the last decades of the 18th century. The first banks were Bank of Hindustan (1770-1829) and the General Bank of India (1786). Without information technology and communication we cannot think about the success of a banking sector. It has enlarged the role of banking sector in the economy. The financial transactions and payment can be processed in easy and quick way. The use of ATM, credit card, telebanking, mobile banking internet banking etc, provides more security in banking. It also highlights the effective use of technology in banking and product awareness among people. The study shows how people can make use of technology in banking. Among the total population in Chennai, 200 respondents were taken as sample for this study. Data collected were 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 technology.

Anitha. K , Saranya. J, Dr. S.Vasantha

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