Advancements in Banking Industry

  • L Rayees Ahmed Research Scholar, University of Madras, Chennai, Tamil Nadu, India
  • J Sulaiman Associate Professor, PG & Research Department of Commerce, New College, Chennai, Tamil Nadu, India
Keywords: development of bank, traditional to digitalization of bank, ECS,, RTGS, NEFT, ATM and e-banking, Adoption of software e.g. finacle, oracle, Fiserv etc.


The changes and development of bank advancements in technologies and other aspects of industry, helps the banks to grow fast and also it enables the customers to use product wisely. Transformation of banking industry from dust of ledger accounts to computerised for the increase of revenue, enhance customer experience, minimize cost structure and manage enterprise risk. Banks already engaged in services like ATM, Credit and Debit Cards, there are collaborations or partnering solution with foreign banks to outsource their work. The providers are fin-tech, finacle and others are playing an important role for the growth of banks.

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