High Technology in Banking: a Strategic Perspective

Abstract

Banks are providers of financial services, insurers of deposits, financial intermediaries, and key participants in a nation’s payment system. As such, banks play a major role in the economy and in the financial well-being of a nation. To contribute in an able manner in this mission, the banking system must operate under efficient conditions, rendering its services in a reliable way. The costs to the economy, the clients, and the banks themselves must be low, hence, affordable. Bank management becomes increasingly conscious of cost effectiveness.