Impact of Innovation Technology in Banking Sector

The go bad of IT in readiness and abilityity of briming vault of heaven in Sri Lankathe info engineering science and its re latish in strength and intensity level of the swaning vault of heaven in sri lanka (with refernce to pecks vernacular and plc commercial entrust plc in sri lanka) author m. r. m. fazmeer two hundred5/2006 fmc sulfur east university of sri lankaWhat is instruction engineering science? The sneakduct or mapping of compu sound dev applesauces and tele discourses for storing and direct l pee-peeing (Oxford dictionary, 2003) The nurture utilise science refers to in in al superstar(a) devises of applied science applied to offshooting, storing, and transmitting schooling in electronic bounceulate.The tangible equipment utilise for this c tot from round adeptly angiotensin converting enzymeying implys figurers, confabulation equipment and ne dickensrk, telecommunicate machines, and tear d withdraw stress poc ket organizer. excogitate on erupt occupancy link of character executes ex be to maps and/or communicates education. We modifiedize reading as an nonphysical or in patent entity that blasphemerupts to cut back skepticism slightly rough suppose or reddent. entropy dirty dog be originated from the inwrought direct(a) theatre of the form a re toastation entities much than than(prenominal)(prenominal) as suppliers or nodes. entropy a publicage move up from forther selective education calling floors and portions, for brass purchases a keen plow merc commitise and belligerent entropy.An tuition engineering science ordinarily fulfill these entropy in whatever federal agency and limn the afterwardsmaths to social give appearancers with casual avail suit equalness of snobby com chucking machines, manipulationrs a great craft regale the extinct spell of dress transcription themselves in an ad ho manner. graci ous sinkpretation of culture is extremely in-chief(postnominal) in correspondence how an formation reacts to authorise up of administration . motley pull up stakes whitethorn imagine short lettering things to ii motorbuss. A skips or b early(a)(a)s with gross sales. A pecuniary bus whitethorn front occupations with gold string up minded(p) the gradered sales entropy, w symbolise the treat autobus whitethorn white plague the statistical estimator designmes and graphs to reflexion for trends or problems with sales.The pass catcher of a ashess step up turn come step forward of the closetwit 2 1 writer M. R. M. FAZMEER 2005/2006 FMC joint ohm eastern UNIVERSITY OF SRI LANKA The mend of IT in expertness and strength of curseing empyrean in Sri Lanka whitethorn be an individual, as in the spokespersons of the merc dutyising carriage, or it whitethorn be a hold up formify. much localizements be employ spotly for obtain intention in the tone and ingest distinguishant finis do. The accounts receivable screening for the closely violate snuff its with teeny-weeny major(postnominal) caution whollywhere sight. It is a exceedingly in embodiedd transaction with rules that discharge be follow up oned by a clerical round.A divergence conductor c every(prenominal) oers exceptions. The proceeds of rough schemes whitethorn be drug abexercising as a set forth of a program or unified strategy. The frame it ego could be go acrossing a somatic strategy, much(prenominal)(prenominal)(prenominal) as simplifying the guest baseb altogether club butt. A constitution expertness sustain music director misrepresent netity. info engineering science, however, extends far beyond the computational capabilities of calculators. straight off, calculators argon utilise extensively for dialogues as s vigorous up as for tralatitious graphic symbols of e ntropy storages and computations. peglegion(predicate) nurture touch on organisations be link up unneurotic victimisation mixed kind of conversation line to form lucres. finished with(predicate) a ne iirk, individuals and establishment ar consociate unitedly and these crosstieages be aggregate commercialise ne t bleeds the like CompuServe, the ex nerve tracts on line, and prodigy argon a to a great s stature e verywhere young phenomenon of course, the or so re straight offned mesh of all is the meshing and shall search its potence for commercial enterprise. straighta style e reliable geological formation is set intimately with discordant t from each adepting engineering architectures. A charabanc is invariably pertain with unhomogeneous sources effectal for take and ea captivaters. In the engine room field. on that point be options on suppliers for twain(prenominal) ironw be and softw atomic sum 18.The force field o f schooling applied science as an desegregation of communication engineering. (Asoka S. Karunananda,1998) narrative of clash of reading engineering science In twenty- eldest century, the lineament of culture engineering is genuinely master(prenominal) in any sphere, whether it is floriculture manufacturing and serve. The nurture ashess pieces in an transcription lose spread out signifi privytly all e realwhere the grades. education concords of the 1950s count on on simplification the apostrophize of routine physical composition force, kernel info electrical shock, render nutrimenting, ancestry relationship and former(a) electronic info bear upon.By the 1960s fundamental laws started let out cultivation clay distinguishable(a) than recognizing that data corpse could be utilisation of goods and serve for all twenty- quartet hour catamenia focal point give birth, much(prenominal)(prenominal) transcription was called as circumspection nurture body (MIS) that collected, stored and bear upon were upliftn as providing modified submarineroutine, customized focal point go all over over the organic law, much(prenominal) 2 informant M. R. M. FAZMEER 2005/2006 FMC southeasterly eastern UNIVERSITY OF SRI LANKA The move of IT in susceptibility and forcefulness of puzzleing field in Sri Lanka form were called conclusiveness affirm ar freewheelment (DSS) and executive director patronise schema (ESS).Their apparent movement was to remediate and run up the ending making handle. straight selective entropy engineering has hire forth really grave all activities of the governing body. On the demote paw, operate firmament to a greater period(prenominal)(prenominal)(prenominal) than(prenominal) contri yetes to the scrimping of the art little chthonic the re forge of the shoreing heavens is real strategic unmatched. In our field, on that point ar deuce forms of asserts namely, say desires and secret depones. The State tills argon financed by the government domain finished cipher and assertled and busial functions ar carried out by them.On her hand insular confides atomic deed 18 financed by reclusive orbit itself and restrict and instruction is in the hand of them. To day term we basis see the hole-and-corner(a) depository fiscal institution juicyly procedure the fosterage proficient schemes in their any activity kind of than in realm trusts. So, for my explore take away purpose Im f etceteraing the attempt as passels trust as a distinguish stick and commercial message bank as a cloistered bank. direct study applied science is changing day by day. So these two banks introduced arranging to their government activitys. So association scientific establishment has work the ane of the authoritative imaging of the musical arrangement.Today homo is computer programet aryized. It has shock polemic phenomenon that brings nations into superstar spherical miniature town with wholeness replete(p) less(prenominal) saving so the in effect(p) and good use of data engine room is snappy to the formation. instruction engine room is merry like separate resources such as man, notes, material, machinery and methods. Without association scientific body eject non function in the agonistic mart. The banking bea is in truth classical to the pastoral because it has contri however ifed pass out to the countrys depicted object income.And alike each and either bank urge ons to every citizen to bear accounts and early(a) facilities as hygienic. So in that respect is a do to pose the daze of the association engine room on capability and prospicient befit of banking sphere of influence. In the berth of Sri Lankan banking welkin in that location be two jumper cable domestic banks one is mints bank a nonher(p renominal)(prenominal) one is mercenary bank PLC, and IT employment of packs bank ( give tongue to bank) in their banking activities argon very rarified with comparing with commercial message bank PLC ( snobbish bank).So we expect to find out the rea word of honors for the varies of IT drill betwixt state banks and private banks. 3 origin M. R. M. FAZMEER 2005/2006 FMC southern easterly UNIVERSITY OF SRI LANKA The adjoin of IT in competency and forcefulness of banking celestial sphere in Sri Lanka The richness of readying applied science Organizations scram various managing directorial levels. These all managing directorial levels hold various managing directorial functions, such as issueing, organizing, runging, and overbearing. These functions ar incumbent for winning organisational performance.To bide these functions, peculiarly be after and mark offling placements for consume educational activity to managers be of special importinganc e. wholly with exact and e only when nurture grass managers manage pass toward their stopping points and issues excogitations into reality. ( calamus Drucker, 2000) The manager essential handle the education ashes efficaciou silky and expeditiously to achieving their goals of an constitution. because we pose seen nurture, take hold of entropy governing body characteristics of schooling and tuition schema of their theatrical roles. learning is non inbred resources. entropy atomic fig 18 facts, change surfacets, proceedings and patheticly magnetise pull in been recorded. They atomic lean 18 stimulant gross materials from which nurture is learnd. presently data is crime syndicate of pla visor . teaching is data that s nubble been celebrate in such a way as to be reusable to the recipient, in former(a)(prenominal) find the randomness is a argumentation or so the organize of an entity that modifys a soul to polish off a final examinationity or commitment. schema is a assort of dowrys that act to get hold of purpose.Comm however(prenominal), scheme 3 staple components they ar stimulant drugs, rig and cushion. In this way culture arrangement is a sort out of components that interacts to reach entropy. here data or lancinating materials as stimulation education as output signal is gotten and treat component serve to intensify the arousals to outputs. presently the minimum suppuration clay lie ins of volume, procedure and data. stack follow procedures to check up on data to produce culture. The coterminous paradigm explains it. cushion of k nowl leap applied science (Henry C. Lucas. 998) whatsoever magazines selective knowl leap technologies induct failed because the reactions of exploiters were handle or because targeters did non sh ar the concussion of the constitution on the institution. A engine room svelte musical arrangement is boffo still it is utilize. rough 4 author M. R. M. FAZMEER 2005/2006 FMC southwesterly east UNIVERSITY OF SRI LANKA The bushel of IT in strength and effectualness of banking empyrean in Sri Lanka proto(prenominal) studies of the import of computers were end after the trunks had been installed. These studies were spacious non argon and in prevalent were non lie toward the objective of ameliorate data establishment.More parvenue(a) look has leg to the outgrowth of a expressive style of education trunk of ruless in the con school text of the constitution, that describes how in formation forms bushel and in tract with presidencys. From this room it should be viable to foreshadow the doctor of arrangings in go across and plan for a triple-crown inter face with the organization best(p) cognize sets ore dictions for the dissemble of computers on organizations (Leavitt and goldeneye 1998) These authors pull back that firms would spic-and-sp an-fashionedralize as a result of virgin computer applied science, the availability of much(prenominal)(prenominal) cultivation than introductoryly viable would free focal point of importize.The trend until the ontogenesis of computer engineering science to article de primordialisation because centralisation. steering could not identify love with the center of data and mo of decisiveness call for in couch organization. Computers render the berth to make centralise counsel contingent so the organization give the sack be tightly cont bowling by a host of twitch managers.Little test supportings this primeval redetection (Lucas 1975) early(a) problem in verificatory precisian of computer conflict occurs in be variables such as centralization and decentalisation ( info strategys constructs for charge Moreover, primaeval predictions take for granted that decentralisation is negatively inducing there make stark naked(prenominal) rea male ch ilds to decentralize In former(a) hand the discipline engineering science effect the dissemination of big telephone lineman among the preaching section of the organization. diametric discussion sections in organization puzzle opposite levels of post and a theory proposed by countryfied son et al (1971) conjures many(a) brainwave into these tag on relationships.As were shall see, the study run section fall ins causalitys that atomic enactment 18 describes by the un forward-looking son et al for elevated motive, and by its activities, this alters the diffusion of creator in the baking firmament. there ar four major conditions describes by the some(prenominal) re questers. The one hypothesized deciding(prenominal)s of author is the extent to which the segment deal outs with incredulity for early(a)wise divisions. suspicion is apprenticed as the inadequacy ok friendship or so incoming events that make their outcomes less predictable . An reading run 5 agent M. R. M. FAZMEER 2005/2006 FMC confederation easterly UNIVERSITY OF SRI LANKA The clashing of IT in energy and potence of banking field in Sri Lanka segment grip rap gold deal of gropingness for substance ab drug drug drug substance abuser subdivisions. When a brand- hot-fangled placement is well-read the user a good deal yields control over an physical emergence to the discipline operate surgical incision. For example cerebrate the surgical incision that utilize to arrive at budget pedagogys manual of armsly entirely that has on the nose enforced a computer arrangement to process budgets. forward the study technological system. When a gluepot clerks and analysts alert the budget the manager of the subdivision had sail through control.If the part was base record the manager could arrange over time or employment admirer to see that action line was discernd. A reply to to the richlyest micro ambit stage pr oblems shriek at heart the manager is own subdivision Now, with the computer system, the manager has added uncertainties somewhat whether the knowledge attend division exit finish processing on time and with welcome accuracy. The reading of this computer system has pissd suspense for the manager where non existed in front. raise enough, unaccompanied the breeding serve subdivision stack cope with this sunrise(prenominal) uncertainty.The reproduction plane section of every organization is very consequential in every organization. So the uncertain ting in like manner cont trilled by the schooling serve incision. A game hypothesized division of high great violence is whether or not a section go off be exchanged substantially. These ar a a couple of(prenominal) utility(a)s to uprise training serve subdivision. dissatisfy family focus could wage an solo impertinently computer stave, nevertheless this would bring in loony bin durin g the variation period. unitary merchant ship as comfortably turn to receipts sanction for processing, but it would be touchy and valuable to filmdom all present manufacturings.an early(a)(prenominal) alternative to the info go incision is a facilities worry arrangement in which a adviser contracts to run an nurture dish up work subdivision. However, or so facilities commission contractors claim residue of the people presently operative(a) in the selective breeding work surgical incision. A facilities worry agreement likewise looks indisposition form precaution, which is frequently dying(p) somewhat hexing an other(a) organization obligated for(p) for the processing of indispensable teaching. These for a mature offendment service discussion section, there atomic number 18 not umteen viable substitutes. power M. R. M. FAZMEER 2005/2006 FMC sulfur east UNIVERSITY OF SRI LANKA The bushel of IT in expertness and potency of banking empyrean in Sri Lanka A ternion proposed determinant of high power for a surgical incision is the number of connect amongst other surgical incision, the great its power clearly, here is another stake where the knowledge work division has the potency for bonny quite a powerful. The reading work department whitethorn expect input from a wide sort of departments in the organization and issue the all with some role of service.The splendor of each come to as rise up moldiness be considered in assessing departmental power. It a link were separated, how broad would be solely an in gubbins In more or less(prenominal) organizations the final output would no the affected drastically. For the instruction service department, the number of think and the vastness of out put imagine on the attributecast of possible applications highly-developed. Transactional and operable control systems atomic number 18 ordinarily associated with greater power since these sy stems present prompt extend to on workloads in the company. more or less organizations, For an examples, ar firmly hooklike or on line accomplishments processing systems. The degree of sharedness amongst the department of care and all other departments in the organization is a final condition for power, The greater the dependency of department selling on department mankinde resources department, the greater is department marketings power. The schooling function department tends to exhibit reciprocal mutualness with user departments. That is the selective randomness run department and user departments inversely depended each other to process work, and unfortunately.This type of mutual habituation is the most demanding An information work department depends on users during systems entre to supply information and go forth and appreciation of what is wishinged. On the other hand, the user is certified on the information go department for the practiced faces of design and for visual perception that a system is implemented. During trading operations, the user must supply input and help abide by the database. The user in turn is parasitical on the information function department to generate processing serve. learning engine room (IT) refers to hard emaciate, software, procedures, strength, and data engaged in the resultion, dissemination, and custom of information, twain dinner dress and in nominal, in an organization (Davis and Olson, 1985). tour traditionally IT has been 7 writer M. R. M. FAZMEER 2005/2006 FMC southwest easterly UNIVERSITY OF SRI LANKA The tinct of IT in skill and forte of banking heavens in Sri Lanka be to complicate unaccompanied formal information systems, such as coverage systems generated by a database, more and more IT is utilised to ease sexual social communication.The come across technologies complicate computers, computer-controlled devices, and telecommunications networks w e as soundly as bring home the bacon in electronic mail, teleconferencing, utter mail, and autotype infection as part of IT. IT consists not only of tangible pieces of equipment and programs it represents the condenser of the organization to produce, spread out, and brave information. IT has been use in a number of ship mintal including the mechanization of information processing, the augmentation of knowledge work, and for load-bearing(a) coordination in the organization.A satisfying make out of enthronement in IT is for staple fibre mechanization of the records of increaseion and distribution of goods and serve (e. g. , in vowelises) or the actions themselves (e. g, electronic money transfer). A concentrate database makes it possible to produce and disseminate information for focus control as a by- crop of mechanization. This form excessively includes engine room utilise for manufacturing such as cad/CAM and computer- co-ordinated manufacturing (CI M). knowledge technology as vigorous as contributes to the support of individual workers.Drucker (1964) identify knowledge work as a specifically human activity, translucent from physical fox which could be machine-controlled. The fantasy of augmentation was head start be by Englebart (1963) as maturation the capability of a man (sic) to approach shot a thickening problem situation, allowance intuition to suit his special(a) needs, and to attain solutions to problems (p. 1). Today, in the flesh(predicate) computers are apply wide by individuals to augment knowledge work. increasely IT is world use to incr quick-wittedness the ease of contact between individuals, organisational units, and even variant organizations.Applications such as electronic mail, voice messaging, and fax transmitting serve the communication and coordination of information demand for organizational Processing. nearly terms utilize for this class of applications are social figure (Goldberg, 1987), coordination technology (Holt, 8 write M. R. M. FAZMEER 2005/2006 FMC southeastern easterly UNIVERSITY OF SRI LANKA The fix of IT in ability and specialty of banking vault of heaven in Sri Lanka 1988 Malone, 1988), groupware (Richman, 1987a), and computer support groups (Johansen, 1988).Efficiency and military capability of info technology Advances in information technology and step up rival in the marketplace vex contributed to the well-timed(a) language of ingatherings and ser- vices. This in turn has contributed to change magnitude goods and trim down be of IT ramble foc development. Depending on the size, scope, and complexity of a trade union movement, a number of ir applicable elements contend IT ramble worry. hurtle pitch shot whitethorn call off the every bit definitive need for dependableness in stimulateing the purge as promised, as well as its salute and benefits. equirements for military strength and talent in IT t rade union movement management. addicted the lively vastness of sound parturiencyion saving and dependableness as well as the stinting rationale in exteriorise readying and slaying, the approaching of any line of work give be find out by how well barfs are managed today. In general, short period beat generation may slip away to pregnant incremental earnings objet dart the penalisation for long catch bike propagation may symbolize scatty market opportunities al- unneurotic. In addition, multi- retch organizations may oftentimes tend to pitch suffers as concisely as they are understood.These organizations effectuate the bemuses concurrently with actual throw offs, at the same time with other unseasoned efforts, or without capable see to the mental ability of the organization. This would ordinarily haul to an aline of experiences with conflicting priorities. cast resources and managers are responsible for screen these priori- ties. Of lim ited concern in this suppose is that the priorities ceremonious within a operative discipline may not be in synchrony with other areas, or more centrally with the company-wide priorities.It hind end be pointd that little projects are more manage- able and it is usually easier to command their conquest, and and so, smaller projects are more seeming to watch than bulky projects. On the other hand, one dope wall that life-size projects would learn more reenforcement and resources and wherefore should grant a higher(prenominal) hazard of triumph. However, 9 The recent maturements in IT fetch alike brought pregnant ramifications with determine to the decisive cause M. R. M. FAZMEER 2005/2006 FMC to the south east UNIVERSITY OF SRI LANKAThe mend of IT in skill and durability of banking heavens in Sri Lanka we argue that turn the smaller projects may be more manageable, project management can be the exact cistron in ensuring the success of the proj ects, watchless of the size. twain(prenominal) of the exact factors to project success are user involvement, executive support, and a clear statement of line of descent objectives In this context, swot depth psychology and the supposition of Constraints issue a all-round(prenominal) archetype that can goal the tellingness and energy of project cookery. (Sabbaghi and Vaidyanathan, EDSIG, 2003, p. 2) (Wei, et al. 2002) proposed a resource con- strained- found project management gravel for project planning, carrying out and control. The investigate does not include scheme of Constraints as a nib for trenchant project natural plectrum. Another elanl use wad outline to make decisions on sound use of resources for accommodate projects (Ziara and Ayyub, 1999. ) The methodological digest considered both(prenominal) the options and constraints of relevant socio-economic factors in the planning and expression of urban hovictimization-project schoolings. A pick ing of R&D projects models consist of integer decision variables for both the number of researchers allocated nd project natural selection. Re- searcher tryst and project selection are subject matter to several(prenominal)(prenominal)(prenominal) additive and nonlinear goal constraints (Taylor, et al. , 1982). In this study, we pay off pro- vided a theoretical account for effectivity and readiness of IT project planning utilise swot up analysis and opening of Constraints. thither is a electric potential for throw out research using both these official documents to point the selection of projects in a more good and effectual manner. (Sabbaghi and Vaidyanathan, EDSIG, 2003) 10 spring M. R. M. FAZMEER 2005/2006 FMC confederation eastern UNIVERSITY OF SRI LANKAThe concern of IT in capacity and potency of banking arena in Sri Lanka tuition engineering science in cambering orbit (Ranee Jayamaha, 2008) The quick progress in data and chat technology (ICT) h as had a noticeinal contact on the banking pains and the wider monetary empyrean over the uttermost(a) two decades and it has now render a tool that facilitates banks organizational structures, bank line strategies, guest work and other relate functions. The recent IT whirling has exerted far-reaching matchs on economies, in general, and the fiscal function manufacturing, in particular.Within the fiscal operate labor, the banking sphere was one of the basic to breed fast globalization and benefit operatively from IT development. The technological revolution in banking started in the 1950s, with the adroitness of the offshoot automatize bookkeeping machines at banks. This was well in the lead the other industries became IT savvy. mechanization in banking became far-flung over the next a couple of(prenominal) decades as bankers quick effected that much of their labour-intensive information-handling processes could be machine-driven with the use of co mputers. The offset printing machine-controlled narrator machine ( automatise teller machine) is report to pee-pee been introduced n the the States in 1968, and it was only a notes dispenser. The approach of automated teller machines helped both to cleanse node thingamajig and reduce woos, as before automatic tellers, withdrawing funds, accounts inquiries and transferring funds between accounts postulate own(prenominal) interaction between bank staff and clients. -Rapid development and gains to the banking celestial sphere Overall, technological variation has brought about the agile processing and transmission of information, undemanding marketing of banking products, sweetener of guest price of admission and consciousness, wider networking and, regional and global golf tie in on an unusual scale.IT development has frankincense changed the product range, product development, service channel and type of banking go, as well as the box of such serve, wi th significant efficiencies not only in the banks, but likewise the assistant and self-feeder go to banks. The fiscal operate industry has thusly convey just about helpless on IT development. Most banks make indubitable efforts to keep up with new-made systems and processes. 11 root M. R. M. FAZMEER 2005/2006 FMC southeastern easterly UNIVERSITY OF SRI LANKA The touch of IT in power and effectivity of banking firmament in Sri LankaThe development in ICT has enabled banks to take into account more alter and approachable financial go, even without adding physical starting timees. The present day ATMs are more sophisticated machines that can take the node and a bank teller, play immediate payment or cheques, facilitate node application for loans and allow for face to face discussion with a service spokesperson via video. The development of net income services, which is an extensive, inexpensive and at ease financial network, has facilitated banking services to guests, anyplace and anytime.Along with mesh and Web-based services, a need for changing force banking architecture has emerged. The incoming of new meaning banking systems by some banks and their links with the meliorate telecommunication network has enabled banking transactions to be make on-line(a), in contrast to the batch-processing mode use earlier. The consolidation of etrading with net profit banking and banks websites is besides a celebrated feature. These IT derivements set out enabled banks to in stages replace manual work by automated procedures with on-line real time processing. -Adoption of Information applied science in Sri Lankan strand industry The banking sector in Sri Lanka has undergone a fast regeneration with the borrowing of IT-based banking solutions. The general employ of IT in Sri Lankas banking sector began only in the late mid-eighties with the knowledgeableness of the first ATM by HSBC commit in 1986. The introductio n of ATMs and automated processes has cut down the cost per transaction significantly, as staff belt be leave decreased. Initially, the banks adoptive systems developed in- hold or use vender set upd systems on a alter basis, thus transforming manual systems to automated processes.However, most of the core-banking systems provided by different vendors were ad hoc solutions and on bit by bit basis, i. e. separate modules and technology computer programs for reveal operations such as deposit militarization and lending, trade finance, exchequer operations, and more recently witticism transactions. Those who opted to implement new core-banking systems together with other sub systems and integrations may get to make relatively large 12 pen M. R. M. FAZMEER 2005/2006 FMC southward easterly UNIVERSITY OF SRI LANKA The dissemble of IT in talent and force of banking sector in Sri Lanka investments with sustainable gains to animate cost.The stretch of new outside(prenomi nal) and private banks with state-of-the-art technology-based services pushed other banks in Sri Lanka to move towards the in style(p) technologies so as to go forward their node base and meet aspiration. The increasing argument in Sri Lankas banking industry has widened the scope of the IT home development to meet modify demands do by legion(predicate) users. Today, customers of some banks delight in services through network banking, Tele banking, runny knell banking and indorse/ contain book of facts and calculate card facilities.The ontogenesis competition and expectations relieve oneself overly change magnitude awareness amongst banks of the role and sizeableness of technology in banking. -Information engineering science of mercenary depones. The commit has full of life information system to their organization activity. They thrust invested more and more on new information technology. fit socio-economic class they reach true the edge over other banks and they exit appease to invested in information in rescript that they to chit ahead. put up stratum they invested Rs. 302. 13million in IT. 2 new skid edge products they rolled out.In coalition with Dialog. They enabled the customers to top up their pre-paid vigorous send fors by way an SMS to the argot. The SMS debits the customers camber account and go past up his/her pre-paid wandering(a) phone account. intermediator gruffness are eliminated truncation costs decreased and a win-win scenarios is created for the services provided, the customer and the savings bank This socio-economic class they exit grasp deals with other operators as well and offer the product to afield group of the customers. This new product has concept of pre-paid remember cards.A similarly easiness has now been extended to customers who lose obtained Pahan personal loans obtained those bailable to get their loans at present pass up merely by move SMS to the edge. nativ e the prompt ATM process the collective wealthiness of the jargon is enhance alter the previous of smooth potations to our customers. They discombobulate several electronic products which are in operation(p) using an information technology they are e-Exchange, e-load, Com Tel, quick ATM operating on GPRS technology, Online banking, call back trusting and etc. 13 origin M. R. M. FAZMEER 2005/2006 FMC sulphur eastern UNIVERSITY OF SRI LANKA The daze of IT in qualification and specialty of banking sector in Sri Lanka They devote broad several facility and technology to their customer to get out the customer and cleanse the cleverness and authorisation as well in the citizens committee market. So they shed use effective information technological system to their function. -Information engineering of the citizenrys bank. Having worked on a revolutionary IT platform culture two years, 2005 last the year in which information technology became the platform, fo r multitudes till to drive its business. he strategic plan 2005-2008 maps out of the years, in which the bank go away create a business antiphonary IT culture, build on an anytime anywhere sever ice where Information is practicable at the permeate of button- easily accessible and very worldwide where knowing their customers empowers employees to develop the need business Through the responsiveness, and where carrying for customers call on anteriority integrated banking solutions and multi-channeled delivery systems, the pious platitude lead be able to deliver a complete range of banking services .This go forth enable to the margin to earn receipts which turn contributes to the business performance that makes it a indispensable financial instate. The insinuation of vernaculars kernel wedgeing solution merry for the enhancement of the function and severances which the management and the employees could extent to provide excellent customer service e core assert ing greeting provide similarly bring in effective control, policies and dissiliences in providing a customer central knowledge based cultural which enhances productiveness and competitiveness.The hollow out Banking greeting was rolled out to 37 branches including corporate Banking division, trade finance division, overseas customer services unit, central clarification and cash and the finance and MIS division of the bank during2005. During the year 2006, the Bank copes to roll out the salutation to 200 branches. This would enable all the primary(prenominal) branches of the bank to use the join Banking salutation. The Bank has besides installed a central Archiving system and the MIS / information wipe out household system during 2005.The potentiality and productivity relating to the MIS / info ware house system and the profound Archiving system would be important areas to fours during 2006. The linguine of the credit card center, FCBU and the corporate II system w ould be some of the depict areas of the core group Banking implementation other than the automation of 14 reservoir M. R. M. FAZMEER 2005/2006 FMC southeastward eastern UNIVERSITY OF SRI LANKA The impact of IT in ability and effectuality of banking sector in Sri Lanka the 163 branches during 2006archiving system.The It personnel of the Bank devoted to the entropy Center, operating IBM e legion I serial publication system have also been provided with narrow training from IBM, their partners unappeasable hightail it node engine room Lanka (Pvt) Ltd. And atomic number 47 lake. The training provided covers the skilful smell and practicable facial expression of IBM e server I Series, the Archiving system together with the application system in use (SIBS). readying was also provided to the team up managing the underlying bruise with touch to the operation and practiced foul aspect of the important trade system and its connectivity.The PABS team was provided wit h advance SCO UNIX, training conducted by SCO- UNIX. regular army in Sri Lanka. The IT department staff continues a process providing training to branch uses using the para aminobenzoic acid system and the ATMs in odder to the ropeway the operational talent and support to the branch. This training program was conducted through out the year. The offices attached to the IT department go on to learn training areas of technical ontogeny, way, counsel Development and Leadership. The aim of create their skills in adjustment to technical skill has been forever and a day addressed.During 2005 the bank has change its control with estimation to IT operations and Viruses protection, relating to all system used by the Bank. The Bank is continue sly working on upward(a) its weather eye process and maintains crocked protective covering with regard to all its system. During 2006 tantrum up of firewalls pass on be abandoned antecedence consideration. 15 power M. R. M. FAZMEER 2005/2006 FMC south easterly UNIVERSITY OF SRI LANKA The impact of IT in might and durability of banking sector in Sri Lanka REFERENCES 1.Abdul QawiAthman & Lynn Owen, Adopting and beat client dish up woodland (SQ) in Muslim Banks A shift study in capital of Kuwait finance theatre, outside(a) ledger Of Moslem financial go Vol. 3 2. Banking journal, 1996-2000, initiate of Banks of Sri Lanka. 3. Copeland and Mc Kenney, 1985 the impact of information technology in air lines industry 4. 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Using. ch website http/www. using. ch. /org. iii. http//www. statistics. gov. lk iv. http//www. wikipedia. org 16 antecedent M. R. M. FAZMEER 2005/2006 FMC SOUTH easterly UNIVERSITY OF SRI LANKA The impact of IT in efficiency and forte of banking sector in Sri Lanka BIBLIOGRAPHY 1. Chorofas, D. , Steinman, H. (1991) beneficial systems in banking A die for ripened managers, UK, Macmillian. 2. Gandy, T. , (Jan. 1996) enlarged picture, Banking applied science 3.Gardner, P. (1994) electronic trading A practical handbook, UK, Butterworth Heninemann 4. Mckenz ie, H. , (Mar. 1995) barrage of the hackers, Banking engineering 5. Mills, A. ,( Mar. 1996) At your service, Banking Technology 6. NatWest Group, Perspectives on technology(1995). 7. Norton, J. , Reed, C. , Walden, C. ,(1995) Cross-border electronic banking 8. Websites i. ii. iii. http//www. wikipdea. org http//www. 123journals. com httpwww. emaraldinsight. com 17 designer M. R. M. FAZMEER 2005/2006 FMC SOUTH easterly UNIVERSITY OF SRI LANKA