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    Technology Banking Industry Assignment Help

    Technology Banking Industry Assignment Help

    Technology on Banking Industry: a Case study of ANZ bank


    This chapter deals in highlighting the research objectives and the aim behind doing this research.  The researcher has given a set of questions that will provide proper understanding of the topic in depth. This section will give a proper insight to the effects of technology in banking industry. The background of the research will also be given in this section. In addition, giving proper attention to this chapter will be helpful for the researcher to move forward with the research. The researcher will outline the reason of doing the study in this chapter. The issues will also be mentioned that have the importance in order to get vivid information about the effects of technology in banking further in the research.


    The main motive or aim of doing this research is to have a proper understanding of the subject, which is “The Effects of technology in Banking Industry”. Another aim is to raise the issues regarding the topic of the research also to highlight the drawbacks of technological banking.


    For getting a proper knowledge of the subject, the research objective has been properly mentioned by the researcher. The setting of appropriate objectives will be valuable for the researcher for having an encouraging approach towards the research. The objectives which has been set here by the researcher will be needed in order to complete the full research.The objectives are important to complete the research in right way.

    To identify the procedure by which a valuable service will be provided to the customers that will enhance the business of bank by developing technology

    To understand the valuable addition to the banking business by the technologies that is developing

    To highlight the areas where attention is needed in order to improve the technological aspect of Banking Business

    To determine the beneficial effects of upgraded technological banking system on the customers

    To identify the drawbacks of technological system of banking which is affecting the customers and the banks itself

    Problem Statement

    The main problem of introducing new technologies in the banking industry for transaction of money is the incomplete knowledge of the customers about the newly introduced technologies for the banking in modern days for financial transactions. By the opinion of Isiboret al. (2018), the customer should be provided with proper instruction for transacting online as this will help them eradicate the traditional system of banking. The improper knowledge of technologies used in banking will stop the growth of business. The digitalization technology that has been introduced nowadays has many problems in it and that are the providing of secure and reliable financial transactions. As per the opinion of Guo and Liang (2016), the online transaction should be secured as there are many hackers nowadays who will infiltrate into the transaction. These are some of the negative things with the technologies introduced in the banks.

    Research Background

    The ANZ bank will be taken here which has introduced several new technologies periodically in order to keep the banking system time saving. It is the bank of Australia and New Zealand and recognized as one of the most influential banks. By the view of Holotiuket al. (2017), the introducing of new technologies means that the process of baking will be short and will save valuable time of the customers. The comfort of the customers is the only thing that is kept in mind at the time of introducing new technologies. The interest of the customer is the prime concern of the bank. The ANZ bank

    It has been evident that periodical adapting of new technologies in banking systemof ANZ has helped the economy of Australia and New Zealand to grow at huge rate.Many technologies are implemented for creating a banking environment in which the cost of operation will be lower and the services will be convenient to the customers. According to the view of Goyalet al. (2016), the technology of online banking has been used to extend the banking business to every corner of the world and making the process of banking swift. Digitalization has benefitted the process of transaction by saving the time and labour of the customers. There are times of emergency in a business especially in the banking business wheninstant decision making becomes important. Therefore, manager introduced method estimating the budget for 6 months and calculating it periodically after 6 months. This has been continued for 3 years. This method was established to get a proper outcome of the investment done.

    Research Questions

    These questions are made to address the most important issues of the topic. The proper understanding of the subject is done through setting of these questions of research. This will help in making progress of the research smoother. The questions are listed as follows:

    What are the ways in which the newly developed technologies of banking system will help the customers in saving time and labour?

    Rationale of the study

    This research is done to get a proper insight into the subject of technological development in banking and the effect of it in the banking system of ANZ bank. This issue is very beneficial and is of higher importance as the newly developed technologies in banking systems involves cloud computing, face recognition etc. The instructions should be given about using this technology and the ways in which this technology is helpful. This research has also been done to identify the drawbacks of these developing technologies in banking system.


    This chapter consists of the reason for doing the research and it has been done in order to get a proper understanding of the subject of the research. The research question has been made in order to raise the important issues that need to be addressed. This chapter sets the momentum of research.

    Chapter 2: Literature Review
    2.1 Introduction

    Technology plays an important part in enhancing the banking systems and the business of the banks. It has made easier to do transactions by digitalization. According to the view of Peng et al.(2016), the technological development of the banking systems helped the customers to do the process of banks conveniently and the introducing of new technology saves the valuable time of the customers. The technology has been proven as beneficial for the customers like the introduction of ATM, which helped the transaction of money in various ways. This chapter will include all the aspects of technological developments of banking systems and its way of affecting the customers in positive ways and in negative ways. By the view of Tam and Oliviera (2016), the technology has helped the customers to ignore or eradicate the traditional system of banking and adapted to the new technologies introduced for the secure and reliable transaction and other bank process. This will help the customers as well as the business outcome as the digitalization will take the bank to distant places through online facilities.

    2.2 Technological approach

    Computerized systems are getting more attention nowadays. In the present day, the online processes are more in trend than the traditional systems of transaction or money withdrawal or balance check. ATM counters of individual banks are placed at every corner, which provides the customer with the needed money at the time of emergency. As per the view of Asrar-ul-Haq and Kuchinke (2016), the technological advancement has led to a faster way of banking process and this innovation played an important part in the growth of economy as the facility of online banking is extending the boundaries up to which the services of an individual banks will be provided. The newest technology is helping the bank to act quickly to a problem and it helps a system to get all the information at a quick instant. By the opinion of Ameme and Wireko (2016), the banks that are bringing innovation in the field of technology are being benefitted as it is helping them to establish him or herself as the strongest competitor in the market based on providing fast services to the customers. Because of that, the business is growing at a faster rate. Proper management board is needed in order to analyse the budget, the outcomes of the investment and the services provided to the customers. The decision taking must be swift in order to make innovation in a faster way.

    2.3Services for the customers

    The banks must know about the needs of the customers and should have a proper understanding of the services by which the customer will be satisfied. As per the opinion of Sindwania and Goel (2015), the Assurance should be given by the banks in order to avail the technology in a proper way to the customers. Information Technology is also responsible for the innovation as the competition in the market got hiked and this in turn influenced the banks to adapt new technologies for the satisfaction of the customers. The facilities provided by the banks regarding the technology has been listed as follows:

    There are many facilities like the customers can check the balance of their accounts through online by just log in facilities.The customers have to log in to the sites where the enquiry will be done. 

    Considerable number of ATMs are there which are helpful in checking the balance and withdrawing money at the time of emergency.

    A new technological service is being provided to the customers and through that the customer can check his balance and also can transact through phone by just sitting n his couch that means in a relaxed way.

    Electronic Banking is a very interesting and customer friendly process of maintaining the transactions, checking the balance, transferring of the cash by without even entering the bank.

    2.4 Convenience for bank

    In the past few years, the banks have used the technology in order to provide information regarding the transactions, balance. The application of these technologies have been vivid and that has been also used widely in every parts of the banking process. The banks have provided the customer with the facilities of enquiring the balance and transaction by just swiping the mobile phone. By the view of Paul et al. (2016), the solutions of the problem have been addressed seriously by the officials of the banks and provided with the solution in a faster way. This fast communication between the bank officials and the customer made the process of transactions and enquiry very comforting. By the opinion of Bankoleet al. (2017), the banks found it convenient as the technologies helps them to keep the tracks of records of the transaction in a safer way which is fruitful for their business.

    2.5 Employee condition

    Employees finds it more convenient to work in the banks and the usage of the technology has been hugely beneficial to them as the pass books fill ups are done by the machines automatically. By the view of Mullanet al. (2017), this changes the process from time consuming to time saving. This change is fruitful as the employees can use the time to solve the problems of the customers or to provide service in order to meet the never ending demands of the customer. The technological development helped in the fast calculation of rates of interests. The transactions can be checked very comfortably through computerized techniques. This makes comfortable for the employees to pay proper attention to the customers and that in return results as beneficial for the bank. 

    2.6 Mobile Banking

    This is one of the important and fast way of banking which involves the process of transaction, balance check by just swiping the mobile screen. Many mobile apps are there nowadays which helps in making the banking process easier. Any transaction on the account of the customer prompts a message on the phone of the customer. The payment can be done using payment apps by linking it to the account. According to the view of Nguyen (2016), this a perfect example of customer friendly banking system. The bank who are using this method in an appropriate way attracting the customers which in turn impacting the business of the bank in a positive way. The booking of tickets to the cinema halls or any other places is done through mobile payment apps which is a very labour free task for the customers. The mobile banking enables the customer to successfully transfer the money and check the balance in a relaxed way. There are few drawbacks also in this procedure and that are hacking and not knowing the ways of using the app. Hacking has become real threat to the online transactions as it poses a threat to the information of the customersbeing hacked. The security systems should be made stronger and reliable in order to have a safe transaction. Another problem is the incomplete knowledge of the customer about the online transactions in short, online banking. The launching of fast and upgraded handsets is making way for the faster banking process. In order to keep pace with the fast world, the technologies have to be advanced and that is the only way to increase the business otherwise be ready to get knocked out from the competitive market.

    2.7 Cloud computing

    This method helps the banks to innovate in faster way. It also involves in increasing the efficiency of the banking system. The banks can deliver products to the customers very efficiently and the reliability is also maintained. The application of cloud computing in the banking industry helps in re assigning thing without waiting for the instruction of the IT. The cloud computing is step towards a positive change of a bank. The transactions can be done through secured way through this process or technology. The barriers of the technology that has been used traditionally is not applicable for cloud computing. The cost friendliness of this technology has attracted the banking sectors towards this. There are times when the demands of the customers touch the sky and at that time the technology of cloud computing helps the customers to transact safely and comfortable. This is beneficial to banks in order to control the increasing demands of the customers. Innovation is still needed in this technology and many banks are suing this technology. It is evident from many events that the process of banking became much faster due to cloud computing.

    2.8 Block chain Technology

    It is a technology which is very as it protects the currencies that are virtual like BItcoi, Dogecoin etc. the block chain technology actually deals with recording details of the virtual currency transaction. The use of this technology in the banking process helps in lowering the cost of the bank operations. The application of this technology will be fruitful for the banks in order to increase the profits. Innumerable banks are using this technology for keeping track records of the data. By the view of Nazeriet al. (2017), the block chain technology involves the processing of the banks through computerised techniques instead of using the paper work. This technology reduces the risk of hacking to much extent as the technology is not centralized at a point. Generally, in centralized technologies, once the hacker hacks the systems at the centre automatically accessing to each and every system attached to the centre becomes very easy. This use of this technology will mitigate the illegal things done to the banks and will secure the money of the people.

    KYC is an important thing in order to stay away from the activities that cause terrors. It helps to get information about the customer whether he is an anti-social or not. The block chain technology allows the sharing of the information to the other organizations which in turn reduces the cost of operating.

    The Block chain technology allows the payment process to be cost friendly. The payments can be done by the help of this technology in low costs within the banks. The technology helps in removing of all the intermediate processes that requires high cost.

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