Asked in
Computers
Banking
Job Training and Career Qualifications
Technology
Information Technology

What are the effects of information technology on banking industry?

Answer

User Avatar
Wiki User
May 27, 2012 12:28PM

Computing and information technology has effected and essentially revolutionised the banking industry within a broad variety of ways, it has allowed the use of credit cards to be broadly used upon the banking spectrum and has reduced the amount of 'Physical' money drastically. Did you know now less then 8% of the world money is actually physical the rest is virtual money stored upon accounts and so on!