Impact of IT

Banking
 Impact of IT in Banking

INTERNET BANKING :
Internet Banking lets you handle many banking transactions via your personal
computer. For instance, you may use your computer to view your account balance,
request transfers between accounts, and pay bills electronically.

AUTOMATED TELLER MACHINES (ATM):

An unattended electronic machine in a public place, connected to a data system and
related equipment and activated by a bank customer to obtain cash withdrawals and
other banking services. Also called automatic teller machine, cash machine; Also
called money machine.
Impact of IT in
Banking
• NEFT: Individuals can electronically transfer funds from any
bank branch to any individual having an account with any other
bank branch in the country participating in the Scheme. It
facilitates faster payments and convenience of fund transfer.
Payments done in small batches.

• IMPS: Immediate Payment Service (IMPS) is an instant inter-

bank electronic fund transfer service available 24x7, throughout
the year including Sundays and any bank holiday.

• UPI: Unified Payments Interface (UPI) is a system that powers

multiple bank accounts into a single mobile application, merging
several banking features, seamless fund routing & merchant
payments into one hood. It also caters to the “Peer to Peer” collect
request which can be scheduled and paid as per requirement and
convenience.
 RTGS:
(Real Time Gross Settlement) is the fastest
and the most convenient possible money
transfer system through the banking channel.
Min Rs. 2 Lakh can be transferred and there is
no upper ceiling on transactions. For net
banking Rs. 25 lakh is the limit per day.

Impact of
IT in
Advantages:
1. Speed-Transfers in real time
Banking 2. Wider boundaries – no geographical
limitations within India
3. Convenient - Transfer of funds from your
home or office
 Impact of IT in Banking

• Blockchain Technology:
It decentralizes financial management from a central authority to a widespread network of
computers. Financial transactions are broken down into encrypted packets, or “blocks,” which are
then added to the “chain” of computer code and encrypted for enhanced cybersecurity.

• Digital Banking:
Banks are investing heavily in digital banking technology, in which customers use mobile, web or
digital platforms to use banking services.

• Smart Card:
A smart card usually contains an embedded 8-bit microprocessor (a kind of computer chip). The
microprocessor is under a contact pad on one side of the card. Think of the microprocessor as
replacing the usual magnetic stripe present on a credit card or debit card.
Impact of IT in
Banking
WHAT THE FUTURE LOOKS LIKE

• Upgraded ATMs
• Automated Financial Service
Employees
• Cloud Computing
• Advanced Analytics
• Enhanced Implementation of AI in
chatbots
• Partnerships
 For Banks:

• Price- In the long run a bank can save on money by not paying for
tellers or for managing branches. Plus, it’s cheaper to make transactions
over the Internet by using technology.
• Customer Base- The technology allows banks to reach a whole new
market- and a well off one too, because there are no geographic
boundaries with the help of Internet. The Internet also provides a level

Impact of
playing field for small banks who want to add to their customer base.
• Efficiency- Banks can become more efficient than they already are by

IT in
providing Internet access for their customers. With the use of
technology the banks almost become paper less system.
• Customer Service and Satisfaction- Banking on the Internet not only
allow the customer to have a full range of services available to them but
it also allows them some services not offered at any of the branches.
The person does not have to go to a branch where that service may or
Banking
may not be offer. A person can print of information, forms, and
applications via the Internet and be able to search for information
efficiently instead of waiting in line and asking a teller. With more
better and faster options a bank will surly be able to create better
customer relations and satisfaction.
• Image- A bank seems more state of the art to a customer if they offer
Internet access, e-banking, telebanking. A person may not want to use
these but having the service available gives a person the feeling that
their bank is on the cutting image.
Impact of IT in Banking

For Customers:

• Bill Pay: Bill Pay is a service offered through Internet banking, e-

banking that allows the customer to set up bill payments to just about
anyone. Customer can select the person or company whom he wants
to make a payment and Bill Pay will withdraw the money from his
account and send the payee a paper check or an electronic payment
• Other Important Facilities: E- banking gives customer the control
over nearly every aspect of managing his bank accounts. Besides the
Customers can, Buy and Sell Securities, Check Stock Market
Information, Check Currency Rates, Check Balances, See which
checks are cleared, Transfer Money, View Transaction History and
avoid going to an actual bank. The best benefit is that Internet banking
is free. At many banks the customer doesn’t have to maintain a
required minimum balance. The second big benefit is better interest
rates for the customer.
 Impact of IT in Healthcare

• Technology has a significant presence in the moulding of our modern society.

• We are facing the emergence of data-driven, patient-centric and highly tailored technological solutions
which are slowly reshaping the healthcare industry.

• Healthcare is an industry that is currently being transformed using the latest technology, so it can meet
the challenges it is facing in the 21st century.

• Patients now have access to some of the best diagnostic tools, new and cutting-edge treatments, and a
myriad of minimally-invasive procedures resulting in less pain and quicker healing.

• The availability of newer treatment technologies leading to better outcomes has enhanced the quality
of life of the patients as well.
Digitization of Health Records

• Dusty and bulky paper files are slowly giving way to streamlined
digital records that are securely uploaded to the cloud and made
accessible remotely to patients and healthcare professionals.

• By this, storing, management, and transmission of data becomes

easy and quick.
Impact of
• Support for clinical decisions is made available to professionals IT in
and patients; making it possible to take better, more informed
medical decisions.
Healthcare
• Digitization of health records also facilitates efficiency and
delivery of healthcare to remote or inaccessible locations. This
digitization has the potential to streamline processes, improve
patient outcomes, and reduce costs.
Mobile App Technology in the Medical Field

• Health and fitness apps help people get healthier by tracking

their food intake and activity levels and offering customized
solutions.

• Apps can also be used to keep track of doctor’s appointments,

Impact of
get reminders to take their medications. IT in
• These apps can also help physicians in high-stress jobs by Healthcare
reducing time spent in the filing, record maintenance, and
other routine tasks.

• Doctors can communicate directly with their patients, record

their vital signs accurately, maintain logs about visits and
consultations, and achieve greater procedural efficiency.
Electronic Medical Records

• Electronic medical records or Electronic Health Records

(EHRs) consist of digital summaries of a patient’s medical
records.

• They could include diagnoses, lab reports, and details about

hospital stays, surgical interventions, and prescriptions.
Impact of
• These electronic records facilitate the easy sharing of IT in
information and collaboration between labs and specialists Healthcare
without the time and resource expenditure on physical
transmission.

• When properly maintained and implemented, EHR protocols

can also help increase accountability and reduce malpractice.

• They make life easier for medical accountants and reduce the
chance of mistakes being made.
Big Data and Analytics in Healthcare

• Potential benefits include ability to analyse disease patterns

and tracking disease outbreaks and transmission to improve

Impact of
public health surveillance and speed response.

• Large amounts of data can be turned into actionable

information that can be used to identify needs, provide IT in
services, and predict and prevent crises, especially for the Healthcare
benefit of populations.

• Statistical tools and algorithms can be used to improve

clinical trial design and patient recruitment to better match
treatments to individual patients, thus reducing trial failures
and speeding new treatments to market.
3D Printing in Healthcare

• Just as it's done for other industries, 3D printing enabled

prototyping, customization, research, and manufacturing for
healthcare is on the rise.
Impact of
• Surgeons can replicate patient-specific organs with 3D
printing to help prepare for procedures, and many medical
IT in
devices and surgical tools can be 3D printed. Healthcare
• 3D printing makes it easier to cost-effectively develop
comfortable prosthetic limbs for patients and print tissues and
organs for transplant.

• Also, 3D printing is used in dentistry and orthodontics.