Banks began to use technology initially with a view to take care of their internal requirements pertaining to book keeping, balancing and for transactions processing; the all-pervasive face of Information Technology soon enabled banks to provide better quality of services at greater speed.
Internet banking and mobile banking have made it possible for customers to access banking services literally and virtually from anywhere and anytime. The biggest barriers, time and distance, to access banking services were crossed by leveraging technology. The sector has also moved rapidly towards universal banking and electronic transactions, which changed the way banking is done, during the last decade or so.