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ISSN 2063-5346
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EFFECTS OF INFORMATION TECHNOLOGY IN BANKING SECTOR

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DR. UMANG MITTAL1*, DIVYA SHARMA2 , DR. KAMALPREET KAUR3
» doi: 10.48047/ecb/2023.12.si5a.0145

Abstract

The technological developments experienced in the banking sector during the 1990s revolutionized the way business is done. IT has brought new business models and is increasingly important in enhancing services in the ban king sector. The purpose of this study is to investigate several key and popular IT-enabled banking services, their benefits, and current difficulties. The current state of information technology development has resulted in considerable changes in the commercial sector, including the e-commerce system. However, this technological advancement introduces new risks, specifically threats to information security in banking systems. As a result, e-commerce businesses must establish an efficient information security system in order to reduce security risks and increase service quality. The purpose of this research is to investigate the impact of information security systems on service quality in e-commerce systems. The findings indicate that an effective information security system has a substantial impact on the quality of service in e-commerce systems. Users of e-commerce systems have higher trust in systems that have solid information security measures, which increase data integrity and limit the chance of errors or failures. Furthermore, management that is actively involved in monitoring information security systems will demonstrate concern for the security of user data and increase user trust in the e-commerce system being used. To earn consumer trust and loyalty, banks must prioritize building and consistently enhancing their information security processes, as well as ensuring management engagement in data security. This, in turn, can improve service quality and have a favourable influence on future growth

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