Technology helps in enhancing the customer convenience and innovation of products and services offered by a bank. While it mitigates some risk, it induces some new risks. While advantages outweigh the risks due to technology implementation, it should be managed properly to benefit the customers and the organization.

Technology has been one of the major enabling factor for enhancing the customer convenience in the products and services offered by various banks. With the use of technology, besides improvement in customer service, banks have been able to tone up their management information systems, improving the productivity of their employees and profitability of banks.

Liquidity risk can be controlled by proper deployment of technology for centralized cperations with networking of branches, payment system reforms, implementation of technology-oriented schemes of RBI like electronic clearing services, electronics fund transfer, real-time gross settlement systems, centralized fund management systems, public debt officenegotiated dealing system etc.

Measures which can mitigate Credit risk include analysis of industry data, software-based preventive monitoring system for borrowal accounts, straight through processing, implementation of know your customer guidelines of RBI etc.

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