The use of information and communication technology has taken wider scope in the banking sectors than previous years because of the reach of the people to the CIT infrastructure and easy availability of its products.
The use of CIT has been for long time in the western countries such as USA, UK, Australia and many more. However, the easy access to internet and other smart CIT product has made easier deployment f technology to the developing countries.In the context, Nepal is one of the countries who came late in the deployment such new technology in the banking sector. Deployment of new CIT has always been challenging in the banking sector of country like Nepal to compete in market. As part of WTFO (world Trade Organization) Nepal has opened its door to the global market.
Banking in context of Nepal dated back to 1 5th of November 1937. Before that all the financial transaction was done by he private lenders without the any certain norms and the rules.The bank established on that day was Nepal bank limited which is a commercial bank. After many years of planning and conceptualization, a central or reserve bank was formed as "Nepal Raster Bank" monitoring and mentoring the entire banking sectors of Nepal. The major banks of Nepal have now implemented new technology to render service to their client.
The technologies they are using are Atoms on major cities, inline banking system, and mobile banking system.The use of ATM allows clients to access their cash any time when they are In need of it. Moreover, the implementation of online and mobile banking allows flexibility and comfort to the client to track their savings and spending and also provide the facility of online purchase and payments. By the use this types of information and communication technology has helped to grow the benefits of the Institution and simplify the dally operation of the organization.
