Article#7 - The use of information technology to transform the banking sector in developing nations

Article#7 - The use of information technology to transform the banking sector in developing nations

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Vladimir Milosavljevic CIS 1200N Article #7 Sherif, Kamel (2005). The use of information technology to transform the banking sector in developing nations. Information Technology for Development , 11 , Retrieved April 15, 2009, from - search.ebscohost.com.library.dowling.edu/login.aspx? direct=true&db=buh&AN=18650238&loginpage=Login.asp&site=ehost-live IT is powerful tool which drive development and support growth in the “Third World” countries. The banking sector is an example how IT infrastructure can speed up economic development of many nations in the developing world. For example the use of ATMs increased community efficiency and led to the reduction in costs. In addition, implementation of these IT features into the banking systems of developing countries carries a lot of challenges including weak financial sector, poor technological infrastructure, and very low usage of the Internet and computers in general. However, recently, developing countries are increasingly investing into improvements of their technological infrastructures. Good example can be Nigeria, which is
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