“Need of information technology in banking sector”

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Today, the banking industry is totally dependent upon the use of computers to keep long term & short term records of the payments, withdrawals or other important information. Now the very important information can be accessed at any time easily & effectively without any difficulty and in a quick way. In the recent times, the use of information Technology in banking industry has become very prominent and apparent. We can do care of our finances in a very reliable way by using modern technology. Since the mobile phones and online banking on mobile have made our work too much easy. These revolutions have made our life easier. In fact, now we have no excuses to say that I don’t fine time to pay credit card bills or withdraw my cash because all this is possible just by one click on your phone. Online mobile banking has rapidly made its place in our lives. This has become possible just because of technology revolution that our life has become easy. 

Banking in previous times: In the past years, we have to go to banks to deposit or withdraw money or to check our bank balance. In the past, the only way to get information about how much bank balance do we have, we need to visit to the nearest bank branch and asked about your account balance to the teller or we used to keep records in a detailed log book. 

Benefits of technology in banking sector:

Then after some time revolution came, and we started using ATM (automated teller machine). By these ATM machine, we can withdraw our money from any nearest branch. We can also check our balance on ATM machines. 

Now the Mobile banking apps has made our work very easy. We can check our bank balance anywhere at any time on our phones. So before planning anything for we can check our balance at home and can estimate that whether we can afford it or not. 

The most prominent benefit of technology in banking is that we can quickly pay our bills on time and without any additional charges. We can directly pay our bill by debit card. It means you don’t need to go to bank by yourself that has save our lot of time and effort. People can also manage their money by these Apps easily. For example when your salary comes in your account, you can immediately pay your bill without spending extra money on other luxuries. 

Moreover, you don’t need to carry your cash or wallet anywhere. This is the most amazing benefit of technology in banking. We can just carry our debit cards with us. There is also a smart pay system available on many local stores and retails. You can simply pay your dues by your credit card on their reader. 

If the technology continue to advanced like this there are chances that our debit card or smart pay card will be converted into our travelling cards or some other useful things. Mobile phones are very important for our cashless transactions. Many mobile companies have made their own payment systems. We can pay anywhere by our phones. We will become more & more familiar with these online banking apps in future. 

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