ANSWER 3: Part A

a. Introduction

In the last few years, expertise is altering the manner in which retail banks work and convey
products and services to their valuable customers .The utilization of modern technics in the
financial world has enormous innovations. The innovative slogan of ‘Financial Technological
has become common in banking sector.

b. Concepts and Application related to the question

 obsolete Customer service

The most important way in which FinTech disrupts the financial and banking sector maybe with
the help of customer service. Previously, any financial company needed a good customer service
team. Anything involving the management of money or money required qualified personnel to
help solve problems and provide people with assistance. So if a bank is lack in modern
technology, then obviously its customer service is not considered a good one.

 No option of Banking online

Traditionally, if the retail bank is not providing the online service, then it is doing something in
the non-virtual world. Customer’s often-ly go to the city to take out their money, transfer funds
and arrange their finances from one place to the next. Customer obviously talk to a cooperative
personnel and communicate about his/ her problem regarding banking transaction. Such
premises, however, quickly become redundant. Without Online banking, it become increasingly
non sophisticated and poor banking system where people are not allowed to do their banking
transactions with a push of the button we can transfer money or pay for goods.
 Screening of any fraudulent activity
The examination and documentation of any fraudulent activity was used by both man and
machine to be the same effort. The IT system is not able to help and track potential deceitful
transactions, but it will be up to the bank personnel/ employee to look at all the information and
to see whether the account is fraudulent or not. So it becomes an activity that takes time overall.
Even so, retail banking system without Artificial Intelligence does not go outside the capability
of the banking personnel who design it and is now beginning to perceive and recognize fraud.
The machine tracks the victim's history, then calculates and forecasts fraud probability based on
past patterns. Human are not able to do everything at a much faster speed as compared to
machines. It means that many fraud teams don't get resolved, so problem become big and bank is
unable to even reduce these fraudulent activities.

c. conclusion
Without acceptance of modern technology by ``bank conventional Limited`` must face these
problems, which are written as follow:

1) Decrease in Efficiency:

Without embracing the modern technologies a retail bank is not able to provide efficient and
quick customer service.

2) Information handling become extremely difficult:

The implementation and strengthening of the internal control and housekeeping and reporting
functions become extremely difficult to handle and are unable in providing all the customer
related information without modern and up-to-date monitoring and information systems.

Retail Banking become slower and less reliable without modern technology and usage of
information technology. Records and documents become monster to maintain and retrieve. The
core banking system also become dump without computerized banking.

ANSWER 3: Part B

a. Introduction
The utilization of new and modern technology in the banking/ monetary world is obvious. The
banking sector has seen enormous innovations in recent years. With its continuously evolving
focus on business and consumers, the new motto "Financial and Technology" is gaining mutual
ground in the sector and the necessity of staying tuned to developments is increasingly seen
throughout.

Fintech is considered to be a contemporary program, condensed by monetary based technology

but it is actually a new and modern phenomenon to support financial services. To date,
innovation has largely been at the forefront of these expert offers, mainly by improving the client
faces of financial services.

Digitization was the biggest revolution in banks. Banking is faster and more reliable than before.
Records and documents are now much faster and easier to maintain and retrieve. The core
banking system is also improved by computerized banking.

b. Concepts and Application related to the question

As the ``modern limited bank`` is utilizing the modern technology, so it get several benefits like:
 As modern technology has Positive impact on the banking sector, so as ``the
modern limited bank`` has.
 Use of Digitization by this bank is the biggest revolution in the banking sector.
 Banking become speedy, faster and more reliable as compared to other banks which are
not utilizing the modern technology. Customer Records and documents in modern limited
bank are now much faster and easier to maintain and retrieve.
 The core banking system also improves in modern limited bank because of computerized
banking. All sub-branches have admittance to centralized common data and are linked to
each other via CBS (core banking system).
 The handling of checks becomes quicker and more efficient in ``modern limited bank``
than ever with innovation in the MICR system of check processing.
  The UssD specialized for ``modern limited bank`` is launched by government, allowing
people without internet access to their bank accounts. USSD (Unstructured
supplementary services data).
 To facilitate excellent banking services, ``Modern Limited Bank`` have familiarized
Computerized Banking Services Key like Cash Deposit Machine, Cheque Deposit
Machine, from side to side these service have become informal.
 Internet Banking has been developed and now is being offered by nearly all banks with
increasing Internet access. All details and requests for transactions can be made online
without personally coming to the bank with the help of this procedure.
 In transactions, ``Modern Limited Bank`` offered more transparency.
 By using passwords, double authentication in online banking in ``Modern Limited Bank``
try to reduce fraud in bank.
 The technology is responsible to boost up the customer experience with bank. It
decreases competition between banks, which ultimately provides people with better
services.
 Customers easily access ``Modern Limited Bank`` from anywhere with the introduction
of mobile banking. It's all a fast tap away.
 ``Modern Limited Bank`` have introduced Automated Banking Solutions such as Cash to
facilitate better services for its customers.
c. conclusion
In India, the banking sector like ``Modern Limited Bank`` progresses rapidly with a higher
customer driven and newly improved, innovative technology facilities. Because coin has two
sides, technology is also positive and negative on both sides of the Indian banking sector. The
risks are high but they are able to reduce by modern banking techniques. This digitalized
technology is the backbone of the Indian banking industry in the future.