Role of Information and technology in banking and finance .pptx

Role if it in banking

1. ROLE OF IT IN BANKING SECTOR

2. Challenges Security risks Customer awareness Fear factor Training Cyber threats and regulatory compliance Employee retention Reduced revenue and profitability

3. Risk Management and Compliance Credit risk Market risk Liquidity risk Operational risk  Security breaches  Potential security breaches

4. Security measures Firewall  Encryption algorithms Secure socket layer (SSL) certificates Intrusion detection/prevention systems 2FA –factor authentication (password policy) Network segmentation Access Control Privilege Management Data Backup and Recovery Regular software updation Antivirus/malware software implementation Employee education & awareness Security Audit & Testing

5. Why Technology? Offer enhanced customer service Decrease transaction costs and overheads Increase productivity and profitability  Attract the growing youth population And…there are several more benefits to technology implementation…….

6. The Benefits Multi channel, real time transaction processing Better cross selling ability Improved management Increased safety and security of funds Enhanced efficiency due to system integrations across multiple locations Efficient NPA management Minimal transaction costs Improved financial analyses capabalities Better ability to collect business intelligence

7. Bank-----Technology Synergy

8. 1960s Mainframes 1970s Mini Computers 1980s Personal Computers ALPMs -single user, no connectivity 1990s ATMs, Thin clients era 2000 & beyond Electronic Banking Payment System Innovations IT evolution in Banking Sector

9. Batch Processing Private Online Systems Shared Online Systems Integrated Computer Networks IT evolution in Banking Sector

10. IT evolution in Banking Sector

11. Before Technology The pluses --Greater interaction --Greater customer loyalty --Competition not a threat --Lesser security hassles --No staff hassles The Minuses --Long queues --Large space requirement (office/storage) --Restricted banking services hours After Technology The Pluses --Greater productivity & profitability, efficiency --Faster services & customer satisfaction --Convenience & flexibility --Customer of Bank not branch --24 * 7 operations --Space & cost savings The Minuses --Security a real threat --Staff hostility & morale --High expenditure & maintenance --Competition --Need to keep pace with global standards --Lack of customer loyalty Bank

12. FRAUD DETECTION 

13. THANK YOU