Impact of Ict on Banking and Finance

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IMPACT OF ICT IN BANKING AND FINANCE As in a pendulum movement, the reflections about the impact of ICTs in the Economy have swung from enthusiasm to realism and back to optimism, being each of these states really subjective and implying a wide range of shades within. After a first period of cyberoptimism, people that “wanted to see” and people that thought “waiting to see” was a bad strategy because “it will then be too late”, followed a timespan where scientists — mainly economists — stuck to strict evidence from reality, being their main conclusion that the more you spend/invest in ICTs the more they affect both the share and the growth of the GDP — an obvious conclusion to many, I’d dare say, as it’ll happen with sweets if you spent…show more content…
in banking and finance, thus improving market behavior due to more | | |transparency | | |Positive confidence and risk assessment effects | | |Impact of ICT-related capital investments on overall capital deepening | | |Developmental gains from investing in ICT consumption | | |Developmental gains from investing in ICT production (even greater than for investment in ICT consumption) | | |High returns on investment in telecommunications equipment and, more generally, in the telecommunications sector | |Efficiency |Facilitation of cost-effective public and private services | | |Enabling of more efficient goods and services allocation | | |Cost savings, in general, for industry | | |Fostering of effective use of development resources: capital and natural resources
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