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The Software Packages for Banking Applications in India had their beginnings in the middle of 80s, when the Banks. spurred on by RBI and the Rangarajan Committee Report, started computerising the branches in a limited manner.
The early 90s saw the plummeting hardware prices and advent of cheap and inexpensive but high-powered PCs and servers and Banks went in for what was called Total Branch Automation (TBA) Packages.
The middle and late 90s witnessed the tornado of financial reforms, deregulation, globalisation etc coupled with rapid revolution in communication technologies and evolution of novel concept of 'convergence' of computer and communication technologies, like Internet, mobile / cell phones etc.
The evolution of IT services outsourcing in the Indian banks has presently moved on to the level of Facilities Management (FM). Banks now looking at business process management (BPM) to increase returns on investment, improve customer relationship management (CRM) and employee productivity.
For, these entities sustaining long-term customer relationship management (CRM) has become a challenge with almost everyone in the market with similar products.
There is a wide spectrum of Banking Software available in the market to cater to the various needs of the banking Industry. Indian IT companies now lead the global IT sector and provide software and services to banks globally.
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