Information Technology Management in Banking

Abstract

This paper introduces banking technology as a confluence of several disparate disciplines such as finance (including risk management), information technology, computer science, communication technology, and marketing science. It presents the evolution of banking, the tremendous influence of information and communication technologies on banking and its products, the quintessential role played by computer science in fulfilling banks' marketing objective of servicing customers better at less cost and thereby reaping more profits. It also highlights the use of advanced statistics and computer science to measure, mitigate, and manage various risks associated with banks' business with its customers and other banks. The growing influence of customer relationship management and data mining in tackling various marketing-related problems and fraud detection problems in the banking industry is well documented. The paper concludes by saying that the banking technology discipline is all set for rapid growth in the future .