Abstract:

Information technology's influence on all elements of human existence and business is so obvious that it doesn't need to be stated. Information technology's relevance in the banking business cannot be emphasized. In the banking business, information technology (IT) is swiftly showing to be a vital and effective platform for enhancing expansion, prosperity, creativity, and competition. Information technology enhances the financial sector in 3 stages, according to the research results: it cuts customers and staff time, lowers costs, and simplifies transaction processing. Shifting from banking services to a digital world is only one aspect of digital transformation. It represents a significant shift in the way banks learn from, communicate with, and serve their clients.