The Confluence of Banking, Technology, and Operations: Pathways to Addressing Industry Disruptions

Authors

Mr. Rudramuni P B, Prof. S. Venkatesh

Abstract

This paper examines the intersection of banking, technology, and operations, highlighting how industries can navigate disruptive trends for sustainable success. Technological advancements, economic volatility, and shifting consumer expectations are reshaping the financial landscape. The rise of AI, blockchain, and IoT requires banking institutions to integrate these technologies to improve operational efficiency, and customer experience, and foster growth. Banking operations have evolved from traditional methods to digital banking, where AI and blockchain enhance security, reduce costs, and streamline processes. Disruptive fintech competitors and global crises, such as the COVID-19 pandemic, have underscored the need for innovation and adaptability. The integration of technology is now essential for competitiveness, risk management, and meeting consumer demands. Emerging trends like digital-only banking, AI automation, and decentralized finance (DeFi) emphasize the importance of adopting new technologies. Future strategies include investing in AI, forming fintech partnerships, leveraging cloud-based infrastructure, and enhancing cybersecurity. Collaboration with technology providers and an agile regulatory approach will be crucial for overcoming disruptions.

Keywords