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International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470

phone devices, has given the banking industry a new hone devices, has given the banking industry a new
VI. LIMITATIONS p
Security Risks - External threats such as hacking, External threats such as hacking, platform. Connecting a customer anytime and Connecting a customer anytime and
spoofing and sniffing expose banks to security spoofing and sniffing expose banks to security anywhere to their money and needs is a must have anywhere to their money and needs is a must have
risks. Banks are also exposed to risks. Banks are also exposed to internal risks service that has become an unstoppable necessity. service that has become an unstoppable necessity.
especially frauds by employees in collusion with especially frauds by employees in collusion with This worldwide communication is leading a This worldwide communication is leading a
customers / employees. new generation of strong banking relationships. The generation of strong banking relationships. The
banking world can achieve superior interactions with anking world can achieve superior interactions with
Financial Knowledge / Customer Awareness Financial Knowledge / Customer Awareness - b
Lack of knowledge amongst people to use eLack of knowledge amongst people to use e- their public base if they accommodate all their lic base if they accommodate all their
banking facilities is the major limitation in India.banking facilities is the major limitation in India. customer needs. They have a unique challenge to They have a unique challenge to
Fear factor - One of the biggest obstacle in online t obstacle in online keep their customer alliances and keeping up with the keep their customer alliances and keeping up with the
banking is inclination to conventional banking banking is inclination to conventional banking new technologies, and competitive strategies that new technologies, and competitive strategies that
method by older generation and mostly people method by older generation and mostly people other banks also have to offer the public. other banks also have to offer the public.
from the rural areas. The fright of losing money in from the rural areas. The fright of losing money in Conveniences of services plus outside locations like ces plus outside locations like
the online transaction is a wall to usage of ethe online transaction is a wall to usage of e- A
ATMS are crucial to every banks success. Meeting all TMS are crucial to every banks success. Meeting all
c
banking. challenges including safety and security are perfect hallenges including safety and security are perfect
Training - Lack of suitable knowledLack of suitable knowledge and skills examples of good banking strategies. In order for the examples of good banking strategies. In order for the
is a major constraining for employees to deal with is a major constraining for employees to deal with financial institutions to effectively grow they must financial institutions to effectively grow they must
the innovative and changing technologies in the innovative and changing technologies in embrace the new technologies and customize them to new technologies and customize them to
banks. Training at all levels on the changing banks. Training at all levels on the changing suit their economic success and the public’s success.suit their economic success and the public’s success.
trends in IT is the requirement of the day.trends in IT is the requirement of the day.
The high speed internet connectivity at rural The high speed internet connectivity at rural VIII. References:-
places in India is big challenge. Experience shows Experience shows 1. http://ficci.in/sector/3/Add_docs/Financialhttp://ficci.in/sector/3/Add_docs/Financial-
that we have failed in providing 24x7 internet n providing 24x7 internet Foresights-April-2017.pdf 2017.pdf
connectivity in rural and remote places.connectivity in rural and remote places.
2. www.shodhganga.com

VII. CONCLUSION 3. https://www.avoka.com/blog/tophttps://www.avoka.com/blog/top-millennial-
The mobile and wireless market has been one of the The mobile and wireless market has been one of the banking-trends
fastest growing markets in the world. The arrival of 4. https://home.kpmg.com/in/en/home/insights/2015/https://home.kpmg.com/in/en/home/insights/2015/
technology and the escalating use of mobile and smart technology and the escalating use of mobile and smart
08/financialsectorpov.html8/financialsectorpov.html
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