Affiliation:
1. CMS Business School, Faculty of Management Studies, Jain University, India
2. Government First Grade College, Mangalore University, Karkala, India
3. Government First Grade College, Mangalore University, Kaup, India
4. Al-Hussein Bin Talal University, Jordan
Abstract
The banking sector is transforming, with traditional banking focusing on personalization and quality of relationships, while digital banking focuses on simplicity of products. However, traditional banking must embrace technology to survive and compete. Technology has improved customer service, built trust, and created higher returns on investment. The future of banking lies in IT decentralization and deglobalization, which offer vast opportunities for effective customer service, timely product management, faster service delivery, information and risk management. The chapter covers IT infrastructure and decentralization in the Indian context, highlighting the paradigm shift and opportunities for financial institutions. Decentralizing IT can bring innovation, transformation, and customer agility, making traditional banking a competitor in the race. The chapter highlights the past, present, and future of IT decentralization in the Indian banking industry, emphasizing the role of new technologies like AI, blockchain in automation, integration, and global financial sector growth.