UNIVERSITY OF MUMBAI

LALA LAJPAT RAI COLLEGE OF COMMERCE &

ECONOMICS

MAHALAXMI, MUMBAI-400034
TELEPHONE : 23548240/41

A PROJECT ON
“TECHNOLOGY IN BANKING SECTOR”

SUBMITTED BY
MR . MAHESH KUMAR JAIN

PROJECT GUIDE:PROF.VIJAYA GANGAL

SEMESTER –V
BACHELOR OF COMMERCE(BANKING & INSURANCE)

EXAM SEAT NO : 92
 ACKNOWLEDGEMENT

With great pleasure I express my gratitude to Prof.Vijaya Gangal,

Lala Lajpat Rai College of Commerce & Economics and I am very
thankful to her for being my inspiration in the completion of my
project. he gave me precious time and valuable advice for this
project.

I am thankful to the college library that gave me full support by

providing different types of information resources. I am also thankful
to my friends who supported me throughout the project, I am very
much thankful to my parents who always inspired me to do this work
and complete in time.
 CONTENTS

Sr.No Topic Page No.

1. Introduction 1-2
2. Need For Technology in 3-5
Banking sector
3. Technology Impact on 6-8
Banking sector
4. Traditional Banking vs 9-10
Technology Banking
5. IT in Indian Banking sector 11-14
6. Role of Technology in 15-17
banking sector
7. Internet Banking 18-20
8. Telephone Banking 21-23
9. EFT(Electronic fund 24-25
transfer)
10. ATM(Automated teller 26-28
machine)
11. DEBIT &CREDIT CARD 29-32
12. MOBILE BANKING 33-35
13. Future of technology in 36-38
Banking
14. Conclusion 39
15. Suggestion 40
&Recommendation
 OBJECTIVES OF THE STUDY:

Today Banking sector is one of the arenas, which has a tremendous

potential to survive and grow.
The objectives of the Study are as follows:

 To assess the Role of Information Technology in the Public

Sector Banks, Private Sector Banks and Foreign Banks.

 To Assess the Perception of the Bank Employees towards the

Implementation of Information Technology in the Banks

 To Assess the Perception and Satisfaction of the Customers

with the banks.

EXECUTIVE SUMMARY
1). The study proved that there is a positive relation between
implementation of IT and delivery of service. In other words, Banks
are moving towards implementing IT enabled services to deliver
better service, improve competitive position and also geographical
reach.

2. Majority of the Customers perceive that Technology in Banking

Industry has a positive impact on the way the services are rendered
to the customers. 87% of the Customers Strongly Agree that it is
necessary for banks to implement IT in their operations.. On other
hand, 90% of the Foreign Banks have said that by Implementing
Technology in the Bank, they are able to achieve Data
Communication in Achieving Economies of Scale of Bank.

4. Nearly 89% of the Private Sector Banks have Respondent that

Technology Implementation has resulted in Efficient Low Cost Data
Communication. 78% of the Public Sector Banks have agreed that
the Technology has resulted in Efficient Low Cost Data
Communication. On other hand, 93% of the Foreign Banks have said
that by Implementing Technology in the Bank, they are able to
achieve Data Communication in Low Cost and Efficient way.

5. In case of Private Sector Bank, there is a strong association

between the drive to implement Technology in the Banks and Impact
on Profitability, Competitive Pressure, and Customer Needs.

6). Information Technology facilitate wide and speedy services to

banking sectors.