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Presented by:

Lav kumarMamta

Nitesh sagar

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Role of Information Technology

(IT) in the Banking Sector Information Technology enables sophisticated product

development, better market infrastructure,implementation of reliable techniques for control ofrisks and helps the financial intermediaries to reachgeographically distant and diversified markets.

Internet has emerged as an important medium for

delivery of banking products and services.

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E-Banking: The electronics revolution has made it possible to

provide ease and f lexibility in banking operations

to the benefit of the customer.

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E-bank offers the following services to its

customers:

Credit Cards/Debit Cards

ATM

E-Cheques

EFT (Electronic Funds Transfer)

DeMAT Accounts

Mobile Banking

Telephone Banking Internet Banking

EDI (Electronic Data Interchange

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Credit Card

A card issued by a financial company giving the holder

an option to borrow funds, usually at point of sale.Credit cards charge interest and are primarily used forshort-term financing.

A plastic card used to make a purchase on credit. The

issuer of the card will later collect payment for thepurchase. If payment is made after the grace period,interest will be charged on the account.

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'Automated Teller Machine - ATM'

An electronic banking outlet, which allows customersto complete basic transactions without the aid of abranch representative or teller.

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Advantages of ATMs:

the money (wages) can be transferred to theworkers bank account at any time and there is no needfor the manager to leave the comfort of his office toperform this transaction

no delay connected with paperwork

no need for cheques or cash

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Disadvantages of the ATM : A lot of money must be spent of security of networks

hackers may monitor transactions and obtain,

confidential information very expensive to develop such types of information

systems

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E-Cheque

E-Cheques are payments from buyers who haveattached their bank details to their PayPal account, butdo not have a valid backup funding source such as acredit or debit card.

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Electronic funds transfer (EFT Electronic funds transfer (EFT) is the electronic

exchange or transfer of money from one account toanother, either within a single financial institution oracross multiple institutions, through computer-basedsystems.

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Mobile Banking

Mobile banking (also known as M-Banking, m-banking, SMS Banking) is a term used for performingbalance checks, account transactions, payments, creditapplications and other banking transactions through amobile device such as a mobile phone or PersonalDigital Assistant (PDA).

The earliest mobile banking services were offered overSMS

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Mobile banking services

Account information

Payments, deposits, withdrawals, and transfers

Investments Support

Content services

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Telephone banking

Telephone banking is a service provided by a financialinstitution, which allows its customers to performsome banking transactions over the telephone.

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THANK YOU