BANKING EVOLUTION: UNVEILING THE TECHNOLOGICAL REVOLUTION THROUGH ICT INTEGRATION

Abstract

This article elucidates the transformative impact of Information and Communication Technology (ICT) within the banking sector. It meticulously examines ICT's multifaceted roles, from its fundamental applications to its instrumental contribution to the sector's growth. Delving into the intricacies, the discourse elucidates the profound implications of ICT-driven innovations, encompassing electronic payment systems, mobile banking, and cybersecurity measures. The analysis illuminates ICT's pivotal role in reshaping traditional banking paradigms, fostering operational efficiency, elevating customer experiences, and driving the sector's evolution towards digitization. Moreover, the article navigates the challenges and opportunities posed by ICT integration, advocating for stakeholders' proactive strategies in leveraging technology for sustained growth and enhanced customer-centricity. As ICT continues to redefine the banking landscape, this exploration serves as a comprehensive guide, delineating the transformative journey and emphasizing ICT's indispensable role in steering the sector towards a digitally empowered future.

Keywords: Information Technology, Banking Transformation, Digital Innovation