The Impact of Information Technology on the Banking Industry

Introduction

As humanity steps into the beginning of the 21st century, the two words that fill our minds are Information Technology (IT). In an information age whereby the only certain thing is change, one must be reminded that IT does not change many of the underlying principles in the way we do things but IT is like any other tool that increases our efficiency, capacity, and effectiveness. For example, the logic and concept of mathematics do not change but a computer can be programmed to handle complex calculations faster than any human mind could. Echoing the words of Professor Arnold Toynbee, our study involves looking at the challenges that is posed by IT to the banking industry and also the response of the industry towards this external stimulus.

Please click the link below to view working paper:

Managing Information in Financial Services

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