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The reliance on technology comes from the enablement, as a result of its use, to provide services and process tasks which would not otherwise be provided.
The financial service industry could not provide the level of service it does without the support of advanced information processing and telecommunication technologies. The numbers of checks (over 37 billion annually), credit card drafts (over 3.5 billion annually), and securities trades (over 30 billion shares traded annually) would swamp any manual system that tried to handle them.
• The impact of technology, that is information technology on the financial services sector can be seen in areas such as
• On a wider view-------
Technology is influencing competition and the degree of contestability in banking and financial services...
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Common topics in this essay:
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