Analysis of Electronic Banking and Information Technology using the TOPSIS Method
Authors: Nathiya T , Janaki Priya K 
Published: April 2023

Electronic banking, sometimes referred to as electronic transfer of funds (EFT), is the process of moving money electronically from one account to another. A 2015 Treasury Department poll found that 22% of mobile telephone owners conduct banking transactions online or over the phone as opposed to in person. They accomplish this via computer technology, telecommunications, and mobile payments. Automatic bill and paycheck deductions, computerized money transfers for online spending, and payment machines (ATMs) are some of its features. In the banking sector, information technology refers to the application of cutting-edge computer science and information and communication technologies. It retains a strategic advantage over all the other banks by offering its customers safe, dependable, and inexpensive services. A variety of banking services and other facilities that use electronic technology are referred to as electronic banking. Services for debit cards and ATMs. Banking over the phone. Online banking is one of the main services offered by banks, and it is also a relatively safe platform. Banks often use encryption technology to safeguard all client data and stop security lapses. Last, it provides protection from online scams and account hacking. Electronic banking, sometimes known as e-banking, is a broad term for using technology to access banking services, Internet banking, on the other hand, is a type of electronic banking. It employs electronic ways to move money straight from one accounts to another and is also referred to as an "Electronic Funds Transfer" (EFT). Automatic Teller Machines (ATMs) are online banking facilities that let customers do transactions without going to a bank location. Some ATMs only let you withdraw cash, while others let you do a wide range of things like check deposits, current accounts, and bill payments. Mobile banking is only possible through mobile devices, but digital banking gives you access to a variety of banking options from your desktop, tablet, laptop, etc. Also, you can do mobile banking through SMS or banking applications without the need for the Internet. By replacing document and labor-intensive techniques with automated processes, internet banking has become an effective resource for increased productivity and profitability, operational control, and cost savings. Examining how online banking affects consumer happiness is the goal of this empirical study. The goal of electronic banking is to increase customer happiness and lessen crowding in bank lobby areas. Banks have not adequately utilized these facilities despite their introduction. Customers' unhappiness and being crowded in the financial institutions are results of this. To convey different financial services and goods, telecommunication systems and electronic networks are used. A customer can use his or her computer or mobile device to access his or her account and manage several transactions with e-banking. E-banking has become a more important aspect thanks to advancements in financial innovation and inventiveness of the banking sector. In the present day, e-banking has changed everyone's lives. The wave of the information revolution is taken into consideration after the farms and factories revolutions. Prior to the introduction of online banking, customers had to physically visit the credit union to conduct their savings account operations. Many computer-savvy people enjoy using e-banking. Since the number of individuals using the internet has expanded over time and more people are becoming aware of the numerous advantages that online banking offers, its popularity has surged rapidly. TOPSIS method of ranking evaluated based on enhanced ambiguity comparison with weighted average. One of the typical approaches Multiple responses in the process used in TOPSIS to improve problems, reduce uncertainty determining the weight of each response and manageable at the same time A global approach continuously. Magnetic ink character recognition (MICR) technology, Real time gross settlement (RTGS), National electronic fund transfers (NEFT), Cheque truncation system (CTS), Automated teller machines (ATMs), Smartcard banking, Core banking solutions (CBS), Mobile banking and Internet banking. Global financial environment, financial innovations and technologies and Information technology. Electronic Banking and Information Technology. Automated teller machines (ATMs) is got the first rank whereas is the National electronic fund transfer (NEFT) is having the Lowest rank. Electronic Banking and Information Technology. Automated teller machines (ATMs) is got the first rank whereas is the National electronic fund transfer (NEFT) is having the Lowest rank.