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International Journal of Trend in International Journal of Trend in Scientific Research and Development (IJTSRD)Research and Development (IJTSRD)
International Open Access JournalInternational Open Access Journal | www.ijtsrd.comwww.ijtsrd.com

ISSN No: 2456 ISSN No: 2456 - 6470 | Conference Issue – ICDEBIICDEBI-2018

INTERNATIONAL CONINTERNATIONAL CONFERENCE ON DIGITAL ECONOMY AND FERENCE ON DIGITAL ECONOMY AND

ITS IMPACT ON BUSINESS AND TS IMPACT ON BUSINESS AND INDUSTRYINDUSTRY

Organised By: V. P. Institute of Management Studies & Research, SangliOrganised By: V. P. Institute of Management Studies & Research, SangliOrganised By: V. P. Institute of Management Studies & Research, Sangli

Digitisation Digitisation in Banking

Samita V. Dalvi
Assistant Professor, , V.P. Institute of Management Studies and Research,anagement Studies and Research,
Sangli, Maharashtra, India
Affiliated to Shivaji University, KolhapurShivaji University, Kolhapur, Maharashtra, India

ABSTRACT
A digital shift is taking place globally over wide range A digital shift is taking place globally over wide range consumer needs have been met inconsumer needs have been met in entirely innovative
of sectors to stay ahead in the competition in their of sectors to stay ahead in the competition in their ways. The government’s drive towards making India a The government’s drive towards making India a
respective fields to which banking industry is no respective fields to which banking industry is no cash light digital economy and increasing revenues by cash light digital economy and increasing revenues by
exception. Digitalization is inevitable for banking on. Digitalization is inevitable for banking empowering the citizens are iempowering the citizens are in synergy. The wide
industry and hence “Hop on the digitalisation industry and hence “Hop on the digitalisation scope of digital banking spans from, dealings from the scope of digital banking spans from, dealings from the
express” should be the goal of every bank in the express” should be the goal of every bank in the front desk which customers experience and helps in front desk which customers experience and helps in
world. The financial landscape is on the verge of world. The financial landscape is on the verge of building customer relationship, to the back end that building customer relationship, to the back end that
change and has essentially revolutionised the business change and has essentially revolutionised the business bankers operate through their internal infrastructure bankers operate through their internal infrastructure
model of banking industry. In the new digital era, nking industry. In the new digital era, and the bridge that connects the two ends .A digital onnects the two ends .A digital
increasing expectations of the customers across all increasing expectations of the customers across all bank facilitates at all functional levels of banking bank facilitates at all functional levels of banking
delivery elivery
s
delivery channels, be it ATM, Internet banking or delivery channels, be it ATM, Internet banking or through through a service ervice d channels. hannels.
all ll
c
mobile banking is a standard requirement. Customer mobile banking is a standard requirement. Customer Customer (CRM) is an integral part of a digital (CRM) is an integral part of a digital
centric digitalised operations will increase the centric digitalised operations will increase the banking system, since it helps banks to directly banking system, since it helps banks to directly
efficiency and effectiveness in banking services in the effectiveness in banking services in the communicate with their customers.communicate with their customers.
challenging, dynamic environment. Millenials are challenging, dynamic environment. Millenials are
more eager to do their banking transactions and more eager to do their banking transactions and In today’s world Digital is a buzzword and Banks today’s world Digital is a buzzword and Banks
financial planning via e-banking and hence a key to banking and hence a key to have to stay in race to meet the everhave to stay in race to meet the ever increasing
success of banks is offering everything on electronic success of banks is offering everything on electronic demands of new tech savy generation. Digital demands of new tech savy generation. Digital
media. Projecting the banks offerings on thirdecting the banks offerings on third-party Banking is not only used for front desk operations like Banking is not only used for front desk operations like
sites and providing value added services on mobile sites and providing value added services on mobile Internet Banking, Mobile Banking, Direct Banking, Internet Banking, Mobile Banking, Direct Banking,
application using the open API economy will be application using the open API economy will be use of Social Media in Banking, Artificial Social Media in Banking, Artificial
crucial too. Not only are the Customers, the key crucial too. Not only are the Customers, the key Intelligence, Intelligence, R C Cognitive
Robotics, obotics,
Chathat-bots,
players of digitalisation as the banks are constantly players of digitalisation as the banks are constantly computing, Block-chain, Big Data, voice biometrics chain, Big Data, voice biometrics
striving hard to remain one step ahead of customers to remain one step ahead of customers etc but also includes various backbut also includes various back-end modernization
but also the competitors and the regulatory agencies but also the competitors and the regulatory agencies programs integrated with front end users to achieve programs integrated with front end users to achieve
are acting as drivers to digitalisation. Customers are acting as drivers to digitalisation. Customers overall goals of digital Banking which includes legacy gital Banking which includes legacy
expect a seamless multichannel experience and a expect a seamless multichannel experience and a modernization, Integration, CRM, Document Imaging modernization, Integration, CRM, Document Imaging
consistent, global service from banking sector.consistent, global service from banking sector. etc.

KEYWORDS: e banking, internet banking, mobile banking, internet banking, mobile Due to accelerated technological improvements and Due to accelerated technological improvements and
banking fierce competition, banking sector is working under ierce competition, banking sector is working under
f
constant pressure.
INTRODUCTION
Digitalisation has transformed manual processes and Digitalisation has transformed manual processes and
transactions into digital services. Across all verticals, transactions into digital services. Across all verticals,

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