role of it and is in banking

Prepared by,

• Jigar

• Hardik

• Rohan

Outline Banking Sector Introduction

Difference between IT & IS

Opportunities of IT in Banking

Challenges of IT in Banking

Banking Divisions and its Role

Conclusion

Banking Sector

9%

15%

26%10%

40%50%

GDP Contribution

Agriculture Sector

Industrial Sector

Services Sector

Banking Sector

Others

Source: Planning Commission, Govt. Of India

Difference between IT & IS

Information Technology

Information System

Opportunities of IT in Banking

Centralization of Bank’s data

Helps in decision making

Shelf life of paper documents

Replacing older method of cash withdrawals

and deposits

Human errors in interest and other calculations

Challenges of IT in Banking

Customer retention

Security

Technical Challenges

Software bugs

Not all the process can be taken care-of

Costly updates

Banking Divisions

Core Banking

Mobile Banking

Internet Banking

Batch Extracts and

Statement & Notices

Mobile

Banking

Internet Banking

Statement & Notices

Batch Extracts

Core Banking

Core Banking Role of IT

Simplify monetary and non-monetary transaction

EOD processing

Automatic Passbook printing

Finger-print based transaction

Role of IS Customer attrition prediction

Sales analysis

Report for higher management

Mobile Banking Role of IT

Balance Inquiry

Fund Transfer

E-statement

Role of IS

Data conversion as per mobile app format

Internet Banking Role of IT

Online payment

Loan application

Online TD/RD creation

Role of IS

Data conversion as per web-page requirement

Batch Extracts/Statement & Notices

Role of IT

Statement Printing

Extracts for third parties

Notices generation for customer

Role of IS

Data processing for both

Forecasting

ConclusionBoth IT and IS plays a vital role in Banking

Saves time

Eases Monitoring

Can be accessed from anywhere

User-friendly

Secure

Less human error in accounting

Thank you