THE IMPACT OF INFORMATION TECHNOLOGIES ON THE BANKING SECTOR

Abstract

In recent years, information technologies have changed Banks operation standards. Many economies, companies, bank and nonbank institutions have applied these technologies, trying by its use to reach the world level of business operations in regard to growth and development of the financial market and its environment. New technologies implementation provides higher security in development of new business methods and techniques. The effects of these changes have a bearing on different market structures, new competition conditions in the global environment and growth and development of financial sectors most involved in using new technologies. The development trend of new technologies makes modern and efficient, enablesbusiness operations at the global money and capital markets; decreases and lifts barriers in securities operations and allows much easier access to information.