Information Technology Based Services and Operational Controls In Banks

Abstract

This paperprovides a view on the role of IT in the application; and level of control affected by identified these services.For identification of application of IT based services,data from 80 bankers was collected by the way of questionnaire.Although ITfunctions enhance productivity in banks, but research on assessment of the problems with regard to time taken to solve these problems was not identified. Technology allows banks to run on the concept of 24 X 7 working which has been made possible by the use of Tele banking, ATMs, Internet banking, Mobile banking and E - banking. Considering the importance of IT in banking itis highly important to access their usage and the level of control affected by them.Findings of the study were:Core banking services are inferred to be closely associated to control and are also considered critical to the bank.These services are also sensitive in nature and cannot be ignored while establishing control functions, but they pose little threat on the overall functioning. Thus, they should be timely checked for making betterments. Expected banking services reflects that facility for card payments have a strong relationship with control. Therefore, banks should make necessary plans to check the security issues regarding card. Some of the Augmented banking services are closely associated to control. For growing potential services are closely associated to control services and have some or little level of control. This justifies that they have influential effect on existing control system.