IMPACT OF INFORMATION TECHNOLOGY ON BANKING SECTOR

Presented by Grou

Acknowledgement
Team Members
v v v v v

Niranjan Nikalje Krishna Kumar Kinjal Balar Shital Darade Sudhanshu Nerurkar

Contributions
v v

Valuable inputs and guidance from Prof. Roizman Special thanks to Mr. Arif Khan for sharing and providing internet banking access to one of the Banks discussed in the presentation.

STRUCTURE OF PRESENTATION

Overview

The Banks

Factor Grid

Conclusion

The Bank
History Overview Evolution Role of a Bank Introduction to Technology Benefits

Bank
Pending to add points on History Evolution Role of Bank Benefits of Technology

Core Banking Online Banking ATM Network Passbook printer Others

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Categorize basis of comparison. Enlist parameters under individual categories. Short list Banks based on defined parameters. Evaluate each parameter and reward points. Low = 0, Medium = 1, High = 2 Arrive at a conclusion based on points.

Factor Grid
Sr. Factors No Low (0) 1. Website Main Website Too bright or too light colors. Small text size. Readable font and size. Requires less scrolling. Readable font and size. Proper choice of color background and foreground. Information/links must be organized under proper heads. Rating Axis ICICI

Medium (1)

High (2)

Requires extensive Information is scrolling either organized. horizontal or vertical.

Contd.

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Sr. Factors No Low (0) 1. Website Main Website Too much information either text or images. Information not organized. Popup or flashy content.
Contd.

Rating

Axis ICICI

Medium (1)

High (2)

Website must not be long vertical scroll bar must be avoided. Minimal use of flashy content

Factor Grid
Sr. Factors No Low (0) 1. Website 2 Interface User has to User friendly. struggle, scroll, search the entire website to find his/her required link/information. Extremely User friendly. Important informations / links can be easily located. 2 2 2 Rating Axis ICICI Medium (1) High (2)

Above 15 Time Taken seconds (Assumption

512 kbps internet connection)

Between 10 15 Within 10 seconds seconds

Contd.

Factor Grid
Sr. Factors No Low (0) 1. Website Locating Informatio Link is not n (Internet clearly visible. Banking Link) Link is clearly visible. Link is clearly visible at the upper half of the page. 1 2 Rating Axis ICICI Medium (1) High (2)

Not present in User has to select Categorized the upper half of from the (Corporate, Personal, the screen. dropdown, i.e. no Credit Card, Loan.) direct link is Use of icons, available. menus, images Requires to indicate multiple purpose of the navigation / links. clicks.

Contd.

Factor Grid
Sr. Factors No Low (0) 1. Website Ease of Use Does not have a Use of icons Clear layout. clear layout. instead of buttons or menus. Lacks help facilities. Poor choice of words. Tooltip not available Clear layout. Limited use of graphics. Help guide available. Rating Axis ICICI Medium (1) High (2)

Contd.

Factor Grid
Sr. Factors No Low (0) 1. Website Ease of Use Incompatible with various browsers. Compatibility with various browsers. Tooltips wherever necessary. 2 2 Rating Axis ICICI

Medium (1)

High (2)

Total Rating on Website

10

Contd.

Factor Grid
Sr. Factors No Low (0) 2. Online Banking Facility Login page Along with login Contains only fields it also has login fields. irrelevant links / information. Requires user Important links multiple not available. navigation to come to the main login page. Must have only the User Id and Password fields. 2 2 Rating Axis ICICI

Medium (1)

High (2)

Important links must be available (e.g.

Forgot password, generate password.)

Contd.

Factor Grid
Sr. Factors No Low (0) 2. Online Banking Facility Security features No Encryption Use of low-cost Encryption encryption (SSL) techniques or use of in-house security channel. Authenticate credentials. Rating Axis ICICI Medium (1) High (2)

No separate passwords for login and transactions.

Authenticate credentials.

Contd.

Factor Grid
Sr. Factors No Low (0) 2. Online Banking Facility Security features No restrictions Virtual keyboard Virtual to use back or missing. Keyboard refresh buttons. Separate passwords for performing transactions. Rating Axis ICICI Medium (1) High (2)

Contd.

Factor Grid
Sr. Factors No Low (0) 2. Online Banking Facility Security features Restrictions to use back button. Right click disabled. Information about phishing and other online attacks. 1 2 Rating Axis ICICI Medium (1) High (2)

Contd.

Factor Grid
Sr. Factors No Low (0) 2. Online Banking Facility Final Net Banking screen. Basic account N/A information not available. Important information / links not available. Basic account information available. Quick links to most commonly used services. Links to other offered online services clearly visible. 2 2 Rating Axis ICICI Medium (1) High (2)

Total Ratings on Online Banking Facility

6 Contd.

Factor Grid
Sr. Factors No Low (0) 3. Rating Axis ICICI Medium (1) High (2)

Features Elementary services offered 6 12 months Statement 1 6 months of transactio Fixed options ns. available, cannot be customized. Above 1 year Custom period can be defined. 1 2

No such option Can open only available. certain type of Link / Open accounts. Accounts

Can open various types of accounts.

(FD/RD/other sp. Schemes)

Contd.

Factor Grid
Sr. Factors No Low (0) 3. Rating Axis ICICI Medium (1) High (2)

Features Elementary services offered View On-screen View On-screen. Save in multiple Detailed Accounts formats (pdf, txt, Statement xls, money, csv) Save in a fixed View on-screen format. Print Receive statement via email. Print 2 1

Contd.

Factor Grid
Sr. Factors No Low (0) 3. Rating Axis ICICI

Medium (1)

High (2)

Features Elementary services offered Fund transfers (Push) No provision Only Intra Bank Inter Bank fund to transfer Fund transfer. transfer. funds/money. Intra Bank fund transfer. Receive Funds (Pull) No provision N/A to receive funds/money. Receive funds/money from registered Banks. 0 2 2 2

Total Ratings on Features Elementary services offered

Contd.

Factor Grid
Sr. Factors No Low (0) 4. Additional Services Link Loan Account. No such provision. Separate application Link Loan required. account online. Separate application Link Credit Card required. Account online. 0 2 Rating Medium (1) High (2) Axis ICICI

Link Credit No such Card provision. Account

Apply for No such Debit / provision. Credit Card

N/A

Provision to apply online.

Contd.

Factor Grid
Sr. Factors No Low (0) 4. Additional Services Apply for Cheque Book Apply for Demand Draft. Stop Cheque Payment. No such provision. No such provision. No such provision. N/A Provision to apply online. Provision to apply online. Stop payments for single/series cheques. 2 2 Rating Axis ICICI Medium (1) High (2)

N/A

Stop payments available for single cheque.

Contd.

Factor Grid
Sr. Factors No Low (0) 4. Additional Services Bill Pay No such provision. Limited payee Range of payees option. covered. 2 2 Rating Axis ICICI Medium (1) High (2)

Re-charge prepaid mobile

No such provision.

Option available but requires registration. Only a fixed mobile number.

Re-charge online without registration. Desired mobile / service provider.

Gift Card

No such provision.

N/A

Apply for gift card online.

2
Contd.

Factor Grid
Sr. Factors No Low (0) 4. Additional Services Generate E- No such Challan provision. N/A View E- Challans 0 for TDS payments made online. Request can be made online. 0 2 Rating Axis ICICI Medium (1) High (2)

No such Change communicati provision. on details. No such Re-issue Transaction provision password

N/A

N/A

Request can be made online.

Total Ratings on Additional Services

12 24

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Conclusion
Overall Rating

(Parameters)

10

13

16

19

22

25

(Ratings)