Encyclopedia Of Banking And Finance

Description

“Innovation in technology and world-wide revolution in information and communication technology are perceived to be the catalyst of productivity growth. The relationship between IT and banking is fundamentally symbiotic. It is expected to reduce costs, increase volumes and facilitate customised products. Technology adoption is a dire necessity for the public sector banks to complete with new generation private sector and foreign banks. It is a ‘compulsion’ rather than a ‘choice’. Retention of existing customers is the primary concern of majority of the banks. The major challenge is to fall in line with the emerging scenario and adopting the require technology to provide stake-of-the-art services to the customers. Introduction of on-line, inter-connected automatic teller machines (ATM), telephone banking, on-line bill payment and internet banking are some of the high tech facilities. Banks have to provide in order to survive in the competitive scenario. Technology should ultimately result in better customer service, low cost and quick delivery. Technology product innovation, sophisticated risk management systems, generation of new income streams, Building business volumes and cost efficiency will be the key to success of the banks in the new era.
This book is an encyclopaedia of knowledge on the banking and finance industry and would be a handy guide for professionals as well as a reliable knowledge source for general readers to learn more about the global world of finances. “