Role of Technology in Banking

A bank is a financial intermediary and money creator that create money by lending money to a borrower, thereby creating a corresponding deposit on the bank's balance sheet. The study aims to find the role of technology in banking and also the advantages of using such technologies in banking. The study also reveals reveals the impact of the technologies in the banking sector. The study also carries the details related to the usage of technology among different age groups. The study proves that even in spite of technological advancements people still prefer direct banking due to various reasons. Yet people are not aware of the utmost utilization of technology since they have a threat towards safety. The study emphasizes on the percentage of awareness on maximum utilization of technology. Banks should take effective measures in creating awareness towards the effective usage of technology. The study locates the effect of two imperative issues, technology and relationship, on banking decisions. Data were collected using structured questionnaire from branch managers of 30 sample banks, where no individual bank was selected twice.