DOI: 10.36347/sjebm.2020.v07i01.004

Pages: 29-32

Information technology and communication development processes are two interrelated and fundamental aspects of the banking sector. Banking sector is considered as the integral part of the economic development; however, if it does not progress well and collapse, the economy will also be collapsed. The recent recession in the European banks and the impacts of globalization, competitive forces of the market and the innovation in the banking industry make it important to understand how several aspects of the consumer behavior impact the innovation and thus the respond made by the bank and deliver its customer services. considering the significance of information and communication technology and the role of innovation and competition in the banking sector, the present paper provides a critical review of the previous studies and the core objective of the paper is to examine the role of information and technology on the efficiency and growth of the banking sector in terms of improved customer service delivery and banks overall performance. The present paper also offers a critical review of the peer reviewed articles and scholarly articles about the influence of IT on bank’s productivity to investigate if the banks have progressively attained customer service delivery and provide high level of customer satisfaction by utilizing its online delivery services other than minimizing operational cost and profit generation.