With this new technology approaching, managerial reports will become even more efficient, as it is expected to greatly reduce the error rate. Electronic invoicing, electronic pay inquiries, and web based banking are also new technologies that this author encounters daily at the workplace. Invoices for major companies are submitted through a specially designed websites for instant receiving by the customer and payments are made directly to the bank via wire transfers, thereby eliminating handling time and reducing the average collection period...
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Invoices for major companies are submitted through a specially designed websites for instant receiving by the customer and payments are made directly to the bank via wire transfers, thereby eliminating handling time and reducing the average collection period. Although some new technologies are replacing areas that have traditionally been that of an accountant, it has opened doors to other opportunities, such as information system design, development, and management...
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Impact Of Technology On Financial Services For example, Internet banking has greatly lowered the processing cost of banking. According to research conducted in the United States, in some cases processing by the Internet is estimated to cost less than one hundredth what it does at a bank branch window...	2 / 320
Axe New private sector banks to withstand the competition from Public sector banks came up with innovative products and superior Service. 2001 2005 ( % customer initiated Transaction by Channel) HDFC BANK PRODUCT AND CUSTOMER SEGMENTS PERSONAL BANKING Loan Product Deposit Product Investment & Insurance • Auto Loan • Loan Against Security • Loan Against Property • Personal loan • Credit card • 2-wheeler loan • Commercial vehicles finance • Home loans • Retail business banking • Tractor loan • Working Capital Finance • Construction Equipment Finance • Health Care Finance • Education Loan • Gold Loan • Saving a/c • Current a/c • Fixed deposit • Demat a/c • Safe Deposit Lockers • Mutual Fund • Bonds • Knowledge Centre • Insurance • General and Health Insurance • Equity and Derivatives • Madras Gold Bar	2 / 354
Online Banking It may receive and reply to customers’ queries through e-mail, (ii) In the next level are Simple...	1 / 275
Impact Of Information Technology On The Bank Performance This is quite unfortunate because the world of business and governance in the information age is further complicated by such concepts like democratization, competition, deregulation privatization, commercialization, liberalization, globalization, internalization and computerization...	5 / 1169