However, much more needs to be done to make the financial inclusion an attractive and profitable business for banks. IT in banking – concerns While the increased deployment of IT certainly has its own benefits in terms of enabling banks to meet the business requirements and enhance their service delivery capacity, such IT usage and dependence, however, bring in some new challenges and concerns.
These challenges keep on getting more complex and qualitatively different, as technology keeps on evolving rapidly. For instance, technologies like cloud computing bring in advantages and efficiencies along with new risks which have to be managed. Any delay in adoption of new technologies would only let the competition pass by the laggard institutions.