THE IMPACT OF INFORMATION TECHNOLOGY IN BANKING SECTOR

Information technology is the study or use of systems for storing, retrieving, and sending information. This study is intends to evaluate the impact of information technology in the banking industry. Much than most opposite industries, financial institutions rely on processing, analysing, and provide services in order to cater for the needs of their customers and this is why banks in this modern world of science and technology use information technology in most of their activities or dealings. It is apparently clear that banks in these days cannot do without information technology. The article will attempt to find out the significance of information technologies in the banking sector, as well as consider the advantages and disadvantages of information technologies in the banking sector, their impact and recommendations that can reduce any harmful threat arising from its use, and the importance of information technologies in the banking sector. The article discusses such concepts as daily banking, digital office, financial platform and media bank, as well as analyzes the main trends in the development of mobile banks in Kazakhstan.

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