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IT in Banking
                 The Banking System provides financial assistance by providing cash, credits, loans, and other financial services to a
                 person or a company. IT has given us instant, anytime, anywhere banking facilities to deal with the challenges of the
                 modern world and the growing economy. E-banking is provided by almost all the banks where a transaction can be
                 completed through the Internet. Some of the applications of IT in the banking industry are:
                 •  Banks can reach out to more customers easily and provide better services to them through IT.
                 •  ATM cards, debit and credits cards, cash deposit machines, online banking, telebanking, mobile banking, etc. are
                   some of the important features of modern banking which is possible only by implementing the latest information
                   and communication technology.

                 •  COVID times has taught us that,  account opening  can easily be
                   done from home by following certain online document submission
                   and filing up the required details.
                 •  The development of world-wide networks has significantly reduced
                   the cost of  global  funds  transfer.  This  has  helped  a business  to
                   flourish with minimum hidden charges in the banking transaction.
                 •  Banks are also helping the customers by auto payment facility to
                   pay off their monthly bills like mobile bill, electricity bill, credit card
                   payments etc.
                 •  Back-end  operations  such  as  data  storage,  retrieval  and  analysis,  customer  relationship  management,  report
                   generation, etc. are done efficiently using IT.

                 IT in Insurance
                 Insurance sector deals with laws and agreements between two parties to compensate for financial losses based on the
                 premium paid by them. Information Technology has automated this sector drastically which has proven beneficial to
                 both the company and the customer. Some of the applications of IT in the field of insurance are listed below:
                                                             •  Using computers, the insurance companies can easily maintain
                                                               the database of their customers with the details of the policies.
                                                             •  Renewal  notices  to  be  sent  for  the  payment  of  the  premium
                                                               for a large  database of customers can easily be done through
                                                               computers.
                                                             •  Front  offices  equipped  with  the  latest  technology  will  carry
                                                               out  business  transactions  efficiently and  will  provide efficient
                                                               customer services.
                                                             •  Policies can be purchased online and payment of the premium
                                                               made online  by the customers easily through  the company’s
                                                               websites.
                 •  Through the networks all the branches of the company across the globe are interlinked to provide better services
                   to the customers.

                 IT in Marketing

                 Marketing is advertising, buying, selling, and delivering of products or services to the customers. Application of IT in
                 marketing depends completely on the requirements of companies. Some of the common applications are listed below:
                 •  Customer Relationship Management is an important component of marketing. Technology can help keep a track of
                   customer details, behaviour, and preferences for increasing the sale of a product or a service.


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