is something which is impossible to not think about in modern life. It is the main slogan behind this fast progressing world. Every sector is working day and night with it to produce better services.

The sector is also been one of them. Technology has also given a new height to the industry. Educational Institutes are also contributing towards this field.

Universities such as Graphic Era University, Institute of Technology and Management, etc. are focused on producing more and more well-knowledge students to this field. There have been several e-services which were beyond the level of the imagination a few years ago.

The banking sector has embraced the use of technology to serve its clients faster and also to do more with less. There’s a vast change came in the banking industry as the technology changes.

The paper works became “digitalized” and started” networked banking services”. Unlike before, broadband internet is cheap and it makes the transfer of data easy and first.

Technology has changed the accounting and management system of all banks. As the banks provide services to the customers with remarkable pace which proves their advancements, with a little investment towards technology.

Banks have changed in their operations and moved towards universal banking along with the increased usage of technology-based services offering alternate channels such as Smart cards, ATM’s, mobile banking.

To improve their performances and productivity, many banks have initiated using core banking, human resource management [HRM], and enterprise management techniques. Majority of banks are insisting on cashless and paperless payments modes.

Now, let’s look at some glimpses of modern technology-based services banks are offerings:


  • E-Banking: It is a process of providing services through internet banking with ease to the customers. To make the system user-friendly to all clients, banks have used a Graphical User Interface (GUI), with this software, customers can access their bank details on their own computers, print bank statements, inquire about their financial transactions, and make money transfers from one account to another.
    Another technology used by banks to exchange data between the bank and clients is called Electronic Data Interchange [EDI], this software can be used to transmit business transaction in a computer-readable form. So, the client on the other end will be in a position to read the information clearly.
  • RURAL Banking: With the role of technology, banks are getting upgraded in rural areas also. It is also spreading the e-banking services in rural areas and their awareness about modern technology is also increasing.
  • NRI Banking Services: This has technology has been accepted in many globally developed countries like USA, India, Australia, United Kingdom and many others. Since many people go abroad to work, they have a need for supporting their families. The merger of banking and technology has made everything so simple that people can now transfer money from one country to another within a few minutes.
  • Plastic money: Banking got flexible when the plastic currency is introduced in the country. Smart cards or Credit cards like “Visa or Global” made banking so easy for the customers. With a credit card, a customer can borrow a specific amount of money from the bank to purchase anything and the bank bills them later.
    In this case, they don’t have to go through the hassle of borrowing small money. The Smart Cards such as VISA Electron, MasterCard and others, a customer can pay for anything using that card and that money is deducted from their bank accounts automatically, they can also use the same card to deposit or withdraw money from their accounts using an ATM machine.

These services are few of the noteworthy ones among the several modern technologies. Few other technology-based services are also there like cashless transactions, signature retrievals etc. These services are also enabling further developments.

Facts also support the fact of technological developments in banking sectors. According to a KPMG study, a research analyst says, non-cash payments rate has increased to 91% in value terms as compared to 88% in FY in 2010 and 48% in terms of the value of terms from 35% in FY in 2010.

Few bank analysts also says that the payments made through cheques have also come down to 52% from 81% in the previous eight years.

Today, the banks, to remain in a competitive position are facilitating their customers with the technology-based services according to their demand. Even exams for recruitments are conducted online.

Exams such as SBI PO are conducted using online portals. The diffusion of IT has led to a drastic transformation of the product user relationship due to the improved services being provided by the banking sector.


The product service innovations which took place due to the dissemination of information technology in the service sector have a great impact on demand and employment.

It is important to be aware that in service sector the issues of generation and dispersion of revolution are inextricably important. Both sectors are required and have their major parts in banking field.

So, the current study is outlined to investigate the impact of technological developments on banking service quality.

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