Technology has changed the face of banking sector. It is helping the banks to ease cost pressure, improve quality, and be competitive. While the major objective of IT investment in banks is to offer services to customers which bring convenience and value, to get greater benefit, IT strategy should be aligned with business plan. Prudent technology investment decision is one which brings positive return on technology investment. The major IT competitive edges in banks are improved distribution, enhanced operational efficiency, better management of risks and efficient payment system.

As the modern connotation of survival of the fittest goes, the pressure on the organizations to improve their profitability and efficiency for their survival and growth is escalating day by day. The customers' expectations about the product and services are increasing as the lifestyle and income improves. They do not hesitate to change their brand loyalty or the loyalty towards the organizations with whom they have been dealing for a long time due to the wide choices they are exposed to. The LPG initiative of New Economic Policy 1991 opened to the organizations greater freedom to improve quality and quantity in their performance. As a result, technology and innovation has become the lifeline of excellence and efficiency for the organization. Technology makes many things possible today that were impossible in the past consequently leaving room for product improvement and innovation. Thus, technology facilitates the organization/business.

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