Application of advanced technology The role of technology in banking in creating new business models and processes, in maintaining competitive advantage, in enhancing quality of risk management systems in banks, and in revolutionising distribution channels, cannot be overemphasised. Recognising the benefits of modernising their technology infrastructure, banks are taking the right initiatives.
While doing so, banks have four options to choose from: they can build a new system themselves, or buy best of the modules, or buy a comprehensive solution, or outsource.