Banks are defined as a business organisation that performs services in relation to money. Specifically is the process of keeping money for customers and paying it out on demand, in the form of deposits, borrowings and exchanges. It has become a clich to note the revolutionary impact of information technology (IT) upon any industry, but the real upheaval lies just ahead. As experts back in the 90s stated, “If the number-crunching mainframe computers of the 1970s formed the childhood of IT, and the flowering of personal computers during the 1980s marked its youthful adolescence, then the 1990s seem likely to see the passage of IT into adulthood”. As it has been foreseen, during the 21st Century, technology became directly related to almost every single activity and function of a bank. Deposits, withdrawals, loans, transfer of capital and updating are just some of the functions that are carried out electronically, as computers support communication networks or ATMs.
In the late 1990s, banks have come to realise even more and understand better the importance of technology since they have tried to take advantage of its progress. The computer sciences and all...
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