The Impact of Information and Communication Technology on Banks’ Performance and Customer Service Delivery in the Banking Industry

Abstract

Information and communication technology has become the heart of banking sector, while banking industry is a heart of every robust economy, if it collapses so will the economy and it is absolutely evident from current recession in  European banks crises, and in turn. The effect of globalisation, competition and innovation in the banking industry by its providers to offer their services makes it essential to understand how various aspects of consumer behaviour affect the innovation and respond to customer service delivery. Within this context this paper has undergone a critical literature review of previous researchers with an objective to examine the impact of Information and Communication Technology on Banks performance and customer service delivery, this paper also consists of a critical review of peer reviewed, scholarly and organizational literature regarding the impact of ICT on banks’ performance to examine if banks have successfully achieved effective customer’s service delivery, by providing high level of customer service through online delivery channel, besides operating cost minimization and revenue maximization.