Technology has a dominant role to play in the banking sector and, in fact, many of the business models are based on and driven by technology. However, implementation of technology poses many challenges. Customers, today need services with interconnected features. The IT roadmap should focus on the cross-selling and upselling of different products by banks as a one-stop financial mall for the customers.

Today banks, in order to have vast spread and business, are compelled to take banking to un(der)banked areas for promoting banking habits through financial inclusion. As commercial entities, banks are keen on expanding service matrix and tie-ups in all directions. Realigning banks' strength - eradicating the weaknesses and growth with opportunities, safeguarding the organization's image, etc., from potential threats (SWOT - Strengths, Weaknesses, Opportunities and Threats) are carried out with multi-level focus due to the present constraints of customer delight/retention, cost reduction and increased competition.

Technology has been identified as the fittest medium for the competitive edge. The positive elevation is attained by banks by deflecting the approach of `Business Functional Model' to `Technological Deliverable Model'. However, the indigenous banks could not take to technology in a big way and external forces and compulsions, like Central Vigilance Commission (CVC), threat of customers' migration, etc., intimidated such banks to turn to technology.

Professional Banker Magazine, Techno-Banking, Central Vigilance Commission, CVC, Business Functional Models, Banking Sector, Information Technology, IT, Business Re-engineering Process, Business Process Outsourcing, BPO, Knowledge Process Outsourcing, KPO, Core Banking System, Automated Teller Machines, ATM, Risk Management, Debtor Reporting System.