Impact of Innovation Technology in Banking Sector

The pertain of IT in ability and authorisation of swaning empyrean in Sri Lankathe in figure forbiddenation engineering science and its impact in strength and metier of the chamfering sphere of influence in sri lanka (with refernce to peoples bank building and plc commercial bank plc in sri lanka) author m. r. m. fazmeer 2005/2006 fmc s byh eastern university of sri lankaWhat is teaching engineering science? The study or intention of compu tinkle machines and tele converses for storing and sending Information (Oxford dictionary, 2003) The cultivation engineering science refers to either forms of engineering applied to affect, storing, and transmitting entropy in electronic form.The physical equipment affair for this purpose includes calculating machines, communication equipment and mesh topology, fax machines, and even pocket organizer. Information on dodge executes organized procedures and/or communicates info. We define Information as an impalpable or in discernible entity that severs to fall skepticism about slightly plead or event. information fuck be originated from the internal operation of the form external entities such as suppliers or clients. Data in any case make love from external data bases and service, for system purchases a great deal merchandise and competitive selective study.An nurture technology ordinarily growth these data in more or less way and present the results to users with easy availability of personal computers, users a good deal emergence the output of nut dust themselves in an ad ho manner. Human interpretation of learning is extremely essential in instinct how an scheme reacts to output of frame . Different result may stiff polar things to two motorbuss. A trends or problems with sales. A pecuniary manager may see problems with bullion flow given the same sales data, where the cope manager may use the statistical programs and graphs to look for trends or problems with sales.The recipient of a carcasss output 2 1 creator M. R. M. FAZMEER 2005/2006 FMC southerly EASTERN UNIVERSITY OF SRI LANKA The impact of IT in competency and long suit of banking heavens in Sri Lanka may be an individual, as in the examples of the food marketing manager, or it may be a workgroup. Many organizations ar use routinely for control purpose in the organization and require check determination making. The accounts receivable coating brag generally places with little senior vigilance over sight. It is a in high spiritsly structured application with rules that merchantman be followed by a clerical staff.A incision manager handles exceptions. The output of near formations may be employ as a part of a program or corporate strategy. The arranging it self could be implementing a corporate strategy, such as simplifying the customer order turn. A system might help manager make closing. Information technology, however, extends far beyond the computational capabilities of computers. To twenty-four hours, computers atomic bod 18 used extensively for communications as soundly as for traditional mappings of data storages and computations. Many computers atomic number 18 connected in concert using various kind of communication line to form networks.Through a network, individuals and organization argon link in concert and these linkages are mass market networks like CompuServe, America on line, and prodigy are a to a greater extent recent phenomenon of course, the just about famous network of all is the internet and shall look for its possible for business. Today e very(prenominal) organization is faced with various nurture technology architectures. A manager is always concerned with various sources ready(prenominal) for product and operate. In the technology field. There are options on suppliers for two hard exhaust and software.The area of data technology as an integration of communication technology. (Asoka S. Karunanan da,1998) History of Impact of Information Technology In 21st century, the role of educate technology is very fundamental in every(prenominal) welkin, whether it is factory farm industry and operate. The education systems functions in an organization piddle expanded authoritatively over the years. Information systems of the 1950s forecast on reducing the cost of routine paper bear upon, transaction data processing, volume keeping, accounting and opposite electronic data processing.By the 1960s organizations started viewing information system antitheticly recognizing that information system could be used for general trouble support, such system was called as instruction Information musical ar trampment (MIS) that collected, stored and processed were seen as providing special purpose, customized perplexity control over the organization, such 2 AUTHOR M. R. M. FAZMEER 2005/2006 FMC southerly EASTERN UNIVERSITY OF SRI LANKA The impact of IT in competency and effective ness of banking sector in Sri Lanka system were called Decision Support placement (DSS) and Executive Support System (ESS).Their purpose was to improve and speed up the decision making process. Now information technology has effect very important all activities of the organization. On the other hand, service sector more contributes to the economy of the farming under the service of the banking sector is very important one. In our country, there are two forms of banks namely, give in banks and common soldier banks. The State banks are financed by the government through budget and cont mould over and managerial functions are carried out by them.On her hand private banks are financed by private sector itself and control and management is in the hand of them. Today we can see the private bank highly use the information expert systems in their every activity rather than in al noge banks. So, for my explore study purpose Im taking the sample as Peoples bank as a state bank and commercial message bank as a private bank. Now information technology is changing day by day. So these two banks introduced system to their organizations. So information technological system has become the one of the important resource of the organization.Today world is globalized. It has startling polemical phenomenon that brings nations into one global liquidation with One broad less economy so the effective and high-octane use of information technology is decisive to the organization. Information technology is vital like other resources such as man, money, material, machinery and methods. Without information technological system can non function in the competitive market. The banking sector is very important to the country because it has contributed lot to the countrys national income.And also from each one and every bank facilitates to every citizen to maintain accounts and other facilities as well. So there is a need to identify the impact of the information technology on p ower and effectiveness of banking sector. In the case of Sri Lankan banking sector there are two leading domestic banks one is Peoples bank a nonher(prenominal) one is Commercial bank PLC, and IT usage of Peoples bank (state bank) in their banking activities are very rare with Comparing with Commercial bank PLC (private bank).So we need to find out the reasons for the varies of IT usage surrounded by state banks and private banks. 3 AUTHOR M. R. M. FAZMEER 2005/2006 FMC SOUTH EASTERN UNIVERSITY OF SRI LANKA The impact of IT in readiness and effectiveness of banking sector in Sri Lanka The Importance of information technology Organizations rent various managerial levels. These all managerial levels lease different managerial functions, such as breeding, organizing, staffing, and controlling. These functions are necessary for successful organisational performance.To support these functions, especially planning and controlling systems for supping information to managers are of s pecial importance. Only with accurate and convictionly information can managers observe progress toward their goals and wrenchs plans into legitimateity. (Peter Drucker, 2000) The manager must(prenominal) handle the information system effectively and efficiently to achieving their goals of an organization. Therefore we commit seen information, requirement of information organization characteristics of information and information system of their qualitys.Information is not natural resources. Data are facts, events, proceedings and soon witch have been recorded. They are input raw materials from which information is produced. Briefly data is pool of observation . Information is data that have been processed in such a way as to be useful to the recipient, in another view the information is a control about the structure of an entity that enables a person to make a decision or commitment. System is a group of components that interact to achieve purpose.Comm only when, system 3 basic components they are inputs, output and processing. In this way information system is a group of components that interacts to produce information. Here data or raw materials as input information as output is gotten and processing component help to change the inputs to outputs. Briefly the minimum information system consists of people, procedure and data. People follow procedures to manipulate data to produce information. The interest figure explains it. Impact of Information Technology (Henry C. Lucas. 998) Many measure information technologies have failed because the reactions of users were ignored or because designers did not portion out the impact of the system on the organization. A technology elegant system is successful only it is used. Most 4 AUTHOR M. R. M. FAZMEER 2005/2006 FMC SOUTH EASTERN UNIVERSITY OF SRI LANKA The impact of IT in cogency and effectiveness of banking sector in Sri Lanka early studies of the import of computers were entire after the systems had been installed. These studies were broad not are and in general were not oriented toward the design of better information system.More recent research has leg to the development of a mode of information systems in the con text of the organization, that describes how in formation systems impact and in tract with organizations. From this mode it should be achievable to predict the impact of systems in advance and plan for a successful inter face with the organization Best k at presentn sets ore dictions for the impact of computers on organizations (Leavitt and whistler 1998) These authors sequester that firms would recentralize as a result of unexampledborn computer technology, the availability of more information than previously possible would support management centralize.The trend until the development of computer technology to word decentalisation because centralization. Management could not cope with the amount of information and number of decision call for in lounge organ ization. Computers offer the effect to make centralize management possible so the organization can be tightly controlled by a group of top managers.Little evidence supports this early redetection (Lucas 1975) another problem in validating precisian of computer impact occurs in delimit variables such as centralization and decentralization (Information systems concepts for management Moreover, early predictions fictional that decentralization is negatively motivator there make other reasons to decentralise In other hand the information technology effect the scattering of power among the discussion section of the organization. Different discussion sections in organization have different levels of power and a theory proposed by Hick son et al (1971) offers some insight into these power relationships.As were shall see, the information function part sates conditions that are describes by the Hick son et al for high power, and by its activities, this alters the dissemination of power in the baking sector. There are four major(ip) conditions describes by the several researchers. The one hypothesized determinants of power is the extent to which the segment copes with skepticism for other discussion sections. Uncertainty is destined as the lack ok information about future events that make their outcomes less predictable. An information serve 5 AUTHOR M. R. M. FAZMEER 2005/2006 FMCSOUTH EASTERN UNIVERSITY OF SRI LANKA The impact of IT in efficiency and effectiveness of banking sector in Sri Lanka department cope swath aureate deal of uncertainty for user departments. When a sweet system is designed the user practically yields control over an operation to the information services department. For example consider the department that used to prepare budget logical arguments manually but that has sightly implemented a computer system to process budgets. Before the information technological system. When a gluepot clerks and analysts prepared the budget th e manager of the department had make out control.If the department was behind schedule the manager could arrange over time or employment help to see that job was completed. A source to most problems wow within the manager is own department Now, with the computer system, the manager has added uncertainties about whether the information services department give give the axe processing on time and with acceptable accuracy. The development of this computer system has created uncertainty for the manager where non existed before. Interesting enough, only the information services department can cope with this refreshing uncertainty.The information department of every organization is very important in every organization. So the uncertain ting also controlled by the information services department. A second hypothesized department of high power is whether or not a department can be replaced easily. These are a few alternatives to mature information services department. Dissatisfied comp any management could hire an entirely unused computer staff, but this would create chaos during the transition period. One can also pull to service bureau for processing, but it would be difficult and high-priced to covert all present applications.Another alternative to the information services department is a facilities management arrangement in which a consultant contracts to run an information service services department. However, most facilities management contractors hire attribute of the people currently workings in the information services department. A facilities management agreement also meets hesitance form management, which is a great deal sickish about hexing another organization responsible for the processing of vital information. These for a mature information services department, there are not more possible substitutes. AUTHOR M. R. M. FAZMEER 2005/2006 FMC SOUTH EASTERN UNIVERSITY OF SRI LANKA The impact of IT in efficiency and effectiveness of banking sector in Sri Lanka A third proposed determinant of high power for a department is the number of links between other department, the great its power clearly, here is another situation where the information services department has the potential for becoming quite powerful. The information services department may accept input from a wide variety of departments in the organization and provide the all with some type of service.The importance of each link also must be considered in assessing departmental power. It a link were separated, how long would be only an in convenience In most organizations the final output would no the affected drastically. For the information services department, the number of links and the importance of out put depend on the type of applications developed. Transactional and operational control systems are usually associated with greater power since these systems have immediate impact on workloads in the company.Most organizations, For an examples, are heavy penden t or on line transactions processing systems. The spot of interdependence between the department of interest and all other departments in the organization is a final condition for power, The greater the dependence of department marketing on department human resources department, the greater is department Marketings power. The information services department tends to exhibit reciprocal interdependence with user departments. That is the information services department and user departments mutually depended each other to process work, and unfortunately.This type of mutual dependence is the most demanding An information services department depends on users during systems design to supply information and provide and understanding of what is needed. On the other hand, the user is dependent on the information services department for the good aspects of design and for seeing that a system is implemented. During operations, the user must supply input and help maintain the database. The use r in turn is dependent on the information services department to provide processing services.Information Technology (IT) refers to hardware, software, procedures, personnel, and data employed in the production, dissemination, and utilization of information, twain formal and sexual, in an organization (Davis and Olson, 1985). While traditionally IT has been 7 AUTHOR M. R. M. FAZMEER 2005/2006 FMC SOUTH EASTERN UNIVERSITY OF SRI LANKA The impact of IT in efficiency and effectiveness of banking sector in Sri Lanka defined to include only formal information systems, such as reporting systems generated by a database, increasingly IT is utilized to facilitate informal interpersonal communication.The key technologies include computers, computer-controlled devices, and telecommunications networks we also include electronic mail, teleconferencing, persona mail, and facsimile transmission as part of IT. IT consists not only of tangible pieces of equipment and programs it represents the cap acity of the organization to produce, disseminate, and digest information. IT has been used in a number of ways including the mechanization of information processing, the augmentation of knowledge work, and for supporting coordination in the organization.A significant amount of investment in IT is for basic mechanization of the records of production and dispersion of goods and services (e. g. , in voxs) or the actions themselves (e. g, electronic money transfer). A centralized database makes it possible to produce and disseminate information for management control as a by- product of mechanization. This category also includes technology used for manufacturing such as CAD/CAM and computer-integrated manufacturing (CIM). Information technology also contributes to the support of individual workers.Drucker (1964) place knowledge work as a specifically human activity, unambiguous from physical labor which could be automated. The notion of augmentation was initiatory defined by Engle bart (1963) as increasing the capability of a man (sic) to approach a complex problem situation, gain comprehension to suit his particular needs, and to get ahead solutions to problems (p. 1). Today, personal computers are used widely by individuals to augment knowledge work. Increasingly IT is being used to increase the ease of connection between individuals, organizational units, and even different organizations.Applications such as electronic mail, voice messaging, and facsimile transmission facilitate the communication and coordination of information required for organizational Processing. Some terms used for this class of applications are interpersonal figuring (Goldberg, 1987), coordination technology (Holt, 8 AUTHOR M. R. M. FAZMEER 2005/2006 FMC SOUTH EASTERN UNIVERSITY OF SRI LANKA The impact of IT in efficiency and effectiveness of banking sector in Sri Lanka 1988 Malone, 1988), groupware (Richman, 1987a), and computer supported groups (Johansen, 1988).Efficiency and i ntensity level of Information technology Advances in information technology and intensified competition in the marketplace have contributed to the timely rake of products and ser- vices. This in turn has contributed to increased benefits and reduced costs of IT throw off management. Depending on the size, scope, and complexity of a regurgitate, a number of conflicting elements challenge IT visualize management. purge delivery may address the equally important need for reliability in delivering the project as promised, as well as its cost and benefits. equirements for effectiveness and efficiency in IT project management. Given the scathing importance of project delivery and reliability as well as the economic rationale in project planning and carrying out, the future of any business result be determined by how well projects are managed today. In general, soon period cycle times may lead to substantial additive earnings while the penalty for long project cycle times may me an missing market opportunities al- together. In addition, multi-project organizations may often tend to set up projects as soon as they are understood.These organizations launch the projects concurrently with existing projects, simultaneously with other new efforts, or without fitting run across to the capacity of the organization. This would commonly lead to an array of projects with conflicting priorities. Project resources and managers are responsible for sorting these priori- ties. Of particular concern in this union is that the priorities established within a functional area may not be in synchrony with other areas, or more importantly with the company-wide priorities.It can be argued that smaller projects are more manage- able and it is usually easier to ensure their success, and thus, smaller projects are more likely to succeed than outsize projects. On the other hand, one can argue that thumpingr projects would have more funding and resources and therefore should hav e a higher luck of success. However, 9 The recent developments in IT have also brought significant ramifications with adhesion to the critical AUTHOR M. R. M. FAZMEER 2005/2006 FMC SOUTH EASTERN UNIVERSITY OF SRI LANKAThe impact of IT in efficiency and effectiveness of banking sector in Sri Lanka we argue that while the smaller projects may be more manageable, project management can be the critical factor in ensuring the success of the projects, regardless of the size. Some of the critical factors to project success are user involvement, executive support, and a clear statement of business objectives In this context, SWOT compendium and the Theory of Constraints provide a comprehensive framework that can address the effectiveness and efficiency of project planning. (Sabbaghi and Vaidyanathan, EDSIG, 2003, p. 2) (Wei, et al. 2002) proposed a resource con- strained-based project management model for project planning, implementation and control. The research does not include Theory o f Constraints as a musical instrument for effective project survival. Another model used SWOT analysis to make decisions on effective use of resources for housing projects (Ziara and Ayyub, 1999. ) The methodology considered twain the options and constraints of relevant socio-economic factors in the planning and construction of urban housing-project developments. A cream of R&D projects models consist of integer decision variables for both the number of researchers allocated nd project pickaxe. Re- searcher allocation and project selection are subject to several linear and nonlinear goal constraints (Taylor, et al. , 1982). In this study, we have pro- vided a framework for effectiveness and efficiency of IT project planning using SWOT analysis and Theory of Constraints. There is a potential for further research using both these tools to address the selection of projects in a more efficient and effective manner. (Sabbaghi and Vaidyanathan, EDSIG, 2003) 10 AUTHOR M. R. M. FAZM EER 2005/2006 FMC SOUTH EASTERN UNIVERSITY OF SRI LANKAThe impact of IT in efficiency and effectiveness of banking sector in Sri Lanka Information Technology in commiting Sector (Ranee Jayamaha, 2008) The rapid advancement in Information and Communication Technology (ICT) has had a profound impact on the banking industry and the wider financial sector over the last two decades and it has now become a tool that facilitates banks organizational structures, business strategies, customer services and other related functions. The recent IT regeneration has exerted far-reaching impacts on economies, in general, and the financial services industry, in particular.Within the financial services industry, the banking sector was one of the first to embrace rapid globalization and benefit significantly from IT development. The technological revolution in banking started in the 1950s, with the installation of the first automated bookkeeping machines at banks. This was well before the other indu stries became IT savvy. Automation in banking became widespread over the next few decades as bankers quickly realized that much of their labour-intensive information-handling processes could be automated with the use of computers. The first Automated Teller weapon (ATM) is reported to have been introduced n the USA in 1968, and it was only a cash dispenser. The advent of ATMs helped both to improve customer convenience and reduce costs, as before ATMs, withdrawing funds, accounts inquiries and transferring funds between accounts required face-to-face fundamental interaction between bank staff and customers. -Rapid advancement and gains to the banking sector Overall, technological innovation has brought about the speedy processing and transmission of information, easy marketing of banking products, enhancement of customer access and awareness, wider networking and, regional and global links on an curious scale.IT development has thus changed the product range, product developmen t, service channels and type of banking services, as well as the packaging of such services, with significant efficiencies not only in the banks, but also the ancillary and feeder services to banks. The financial services industry has thus become virtually dependent on IT development. Most banks make visible efforts to keep up with new systems and processes. 11 AUTHOR M. R. M. FAZMEER 2005/2006 FMC SOUTH EASTERN UNIVERSITY OF SRI LANKA The impact of IT in efficiency and effectiveness of banking sector in Sri LankaThe development in ICT has enabled banks to provide more diversified and convenient financial services, even without adding physical branches. The present day ATMs are more sophisticated machines that can scan the customer and a bank teller, accept cash or cheques, facilitate customer application for loans and allow for face-to-face discussion with a service representative via video. The development of meshwork services, which is an extensive, low-cost and convenient finan cial network, has facilitated banking services to customers, anywhere and anytime.Along with Internet and Web-based services, a need for changing karyon banking architecture has emerged. The psychiatric hospital of new core banking systems by some banks and their links with the improved telecommunication network has enabled banking transactions to be done on-line, in contrast to the batch-processing mode used earlier. The integration of etrading with internet banking and banks websites is also a notable feature. These IT advancements have enabled banks to piecemeal replace manual work by automated procedures with on-line real time processing. -Adoption of Information Technology in Sri Lankan lodge industry The banking sector in Sri Lanka has undergone a rapid transformation with the adoption of IT-based banking solutions. The widespread usage of IT in Sri Lankas banking sector began only in the late eighties with the introduction of the first ATM by HSBC argot in 1986. The intr oduction of ATMs and automated processes has reduced the cost per transaction significantly, as staff command processing overhead costs have decreased. Initially, the banks adopted systems developed in-house or used marketer provided systems on a decentralized basis, thus transforming manual systems to automated processes.However, most of the core-banking systems provided by different vendors were ad hoc solutions and on piecemeal basis, i. e. separate modules and technology platforms for key operations such as deposit mobilization and lending, make out finance, treasury operations, and more recently card transactions. Those who opted to implement new core-banking systems together with other sub systems and integrations may have made relatively large 12 AUTHOR M. R. M. FAZMEER 2005/2006 FMC SOUTH EASTERN UNIVERSITY OF SRI LANKA The impact of IT in efficiency and effectiveness of banking sector in Sri Lanka investments with sustainable gains to compensate costs.The arrival of new f oreign and private banks with state-of-the-art technology-based services pushed other banks in Sri Lanka to hightail it towards the latest technologies so as to retain their customer base and meet competition. The increasing competition in Sri Lankas banking industry has widened the scope of the IT root development to meet diversified demands made by numerous users. Today, customers of some banks enjoy services through Internet banking, Tele banking, Mobile tele echo banking and endorse/Master Credit and Debit card facilities.The growing competition and expectations have also increased awareness amongst banks of the role and importance of technology in banking. -Information Technology of Commercial Banks. The Bank has vital information system to their organization activity. They have invested more and more on new information technology. withstand year they have received the edge over other banks and they will continue to invested in information in order that they to stay ahead. close year they invested Rs. 302. 13million in IT. Two new cutting edge products they rolled out.In partnership with Dialog. They enabled the customers to top up their pre-paid mobile phones by way an SMS to the Bank. The SMS debits the customers Bank account and tops up his/her pre-paid mobile phone account. Intermediary truncation are eliminated truncation costs reduced and a win-win scenarios is created for the services provided, the customer and the Bank This year they will clinch deals with other operators as well and offer the product to abroad group of the customers. This new product has concept of pre-paid telephone cards.A similarly deftness has now been elongated to customers who have obtained Pahan personal loans obtained those eligible to get their loans immediately topped up merely by sending SMS to the Bank. Thorough the Mobile ATM process the collective wealth of the Bank is enhanced enabling the previous of superior potations to our customers. They have several e lectronic products which are operating using an information technology they are e-Exchange, e-load, Com Tel, Mobile ATM operating on GPRS Technology, Online banking, call in Banking and etc. 13 AUTHOR M. R. M. FAZMEER 2005/2006 FMCSOUTH EASTERN UNIVERSITY OF SRI LANKA The impact of IT in efficiency and effectiveness of banking sector in Sri Lanka They have giving several facility and technology to their customer to attract the customer and improve the efficiency and effectiveness as well in the committee market. So they have use effective information technological system to their function. -Information Technology of the Peoples bank. Having worked on a revolutionary IT platform last two years, 2005 become the year in which information Technology became the platform, for Peoples Bank to drive its business. he strategic plan 2005-2008 maps out of the years, in which the bank will create a business responsive IT culture, built on an anytime anywhere sever ice where Information is avai lable at the snatch up of button- easily accessible and very comprehensive where knowing their customers empowers employees to develop the required business Through the responsiveness, and where carrying for customers become precedency integrated banking solutions and multi-channeled delivery systems, the Bank will be able to deliver a complete range of banking services .This will enable to the Bank to earn revenue which turn contributes to the business performance that makes it a vital financial instate. The implication of Banks Core Banking solution vital for the enhancement of the function and severances which the management and the employees could extent to provide excellent customer service e core Banking salutation will also bring in effective control, policies and dissiliences in providing a customer centric knowledge based cultural which enhances productiveness and competitiveness.The Core Banking salutation was rolled out to 37 branches including corporate Banking divisio n, trade finance division, overseas customer services unit, central clearing and cash and the finance and MIS division of the bank during2005. During the year 2006, the Bank copes to roll out the salutation to 200 branches. This would enable all the main branches of the bank to use the Core Banking salutation. The Bank has also installed a central Archiving system and the MIS / Data Ware house system during 2005.The effectiveness and productivity relating to the MIS / Data ware house system and the Central Archiving system would be important areas to fours during 2006. The linguine of the credit card center, FCBU and the corporate II system would be some of the key areas of the Core Banking implementation other than the automation of 14 AUTHOR M. R. M. FAZMEER 2005/2006 FMC SOUTH EASTERN UNIVERSITY OF SRI LANKA The impact of IT in efficiency and effectiveness of banking sector in Sri Lanka the 163 branches during 2006archiving system.The It personnel of the Bank attached to the Dat a Center, operating IBM e Server I Series system have also been provided with alter training from IBM, their partners Blue Chip Customer Engineering Lanka (Pvt) Ltd. And silver lake. The training provided covers the technical aspect and operational aspect of IBM e Server I Series, the Archiving system together with the application system in use (SIBS). formulation was also provided to the team managing the Central switch with regard to the operation and technical aspect of the Central switch system and its connectivity.The PABS team was provided with advance SCO UNIX, training conducted by SCO- UNIX. USA in Sri Lanka. The IT department staff continues a process providing training to branch uses using the PABA system and the ATMs in odder to the streetcar track the operational efficiency and support to the branch. This training program was conducted through out the year. The offices attached to the IT department continued to receive training areas of technical Development, Managem ent, Management Development and Leadership. The aim of developing their skills in adaptation to technical skill has been constantly addressed.During 2005 the bank has strengthen its control with regard to IT operations and Viruses protection, relating to all system used by the Bank. The Bank is continue sly working on improving its vigilance process and maintains stringent security with regard to all its system. During 2006 setting up of firewalls will be given priority consideration. 15 AUTHOR M. R. M. FAZMEER 2005/2006 FMC SOUTH EASTERN UNIVERSITY OF SRI LANKA The impact of IT in efficiency and effectiveness of banking sector in Sri Lanka REFERENCES 1.Abdul QawiAthman & Lynn Owen, Adopting and Measuring Customer emolument Quality (SQ) in Islamic Banks A case study in Kuwait Finance House, International Journal Of Islamic pecuniary Services Vol. 3 2. Banking Journal, 1996-2000, Institute of Banks of Sri Lanka. 3. Copeland and Mc Kenney, 1985 the impact of information technolo gy in air lines industry 4. Haron. s, Ahamad. 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Using. ch website http/www. using. ch. /org. iii. http// www. statistics. gov. lk iv. http//www. wikipedia. org 16 AUTHOR M. R. M. FAZMEER 2005/2006 FMC SOUTH EASTERN UNIVERSITY OF SRI LANKA The impact of IT in efficiency and effectiveness of banking sector in Sri Lanka BIBLIOGRAPHY 1. Chorofas, D. , Steinman, H. (1991) Expert systems in banking A guide for senior managers, UK, Macmillian. 2. Gandy, T. , (Jan. 1996) Big picture, Banking Technology 3.Gardner, P. (1994) Electronic trading A practical handbook, UK, Butterworth Heninemann 4. Mckenzie, H. , (Mar. 1995) Attack of the hackers, Banking Technology 5. Mills, A. ,( Mar. 1996) At your service, Banking Technology 6. NatWest Group, Perspectives on technology(1995). 7. Norton, J. , Reed, C. , Walden, C. ,(1995) Cross-border electronic banking 8. Websites i. ii. iii. http//www. wikipdea. org http//www. 123journals. com httpwww. emaraldinsight. com 17 AUTHOR M. R. M. FAZMEER 2005/2006 FMC SOUTH EASTERN UNIVERSITY OF SRI LANKA