TECHNOLOGY IN BUSINESS – A MAGIC WAND IN BANKING SECTOR

Technology is the integration of technical skills, methods, processes and knowledge which are applied in streamlining the business operations with respect to products and services which are embedded in the business with computers, devices, machines and factories. Technological innovations influences business efficiency, productivity,costs, relationship with clients, retention of market share, customer satisfaction and growth. It has greater impact on the economy in various sectors of business.The paper has attempted to interpret the impact of technology in recreating the banking operations with respect to decision making, marketing, business growth, building robust customer support system, customer relationship management, resource allocation, offering unique banking products with exorbitant facilities