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West Science Business and Management Vol. 1, No. 03, Juni 2023, pp. 176~183 Journal homepageBog'liq Application of Business Technology in Management A xudo xoxlasa tushadi99%, 3-labarotoriya ishi Saralash usul va algoritmlarini tadqiq qilis, cmd buyruqlari, Incremental model nima, 1matematik, word sAM 1 savol, Документ Microsoft Word (4), Ma\'ruzalar (2), ЛАБОРАТОРНАЯ РАБОТА N1, Dasturlash 2, Ariza, Qalandarova Gulshoda, 1648631455, 1650692784, 1651669892 (2)2.2 Technology Innovation in the
Banking Sector
The banking sector has witnessed
significant technological innovations in recent
years. Traditional banks have leveraged
digitization and technological advancements
to improve their operations and services [15].
Technological innovations in the banking
industry have led to the development of
online banking, mobile banking applications,
automated teller machines (ATMs), and other
digital platforms [16]. These innovations have
changed the way customers interact with
banks, facilitating convenient and efficient
banking
services
[17].
In
addition,
technological innovations have also enabled
banks to streamline internal processes,
automate routine tasks, and improve risk
management and compliance measures [18].
2.3 Efficiency and Effectiveness in
Business Operations
Efficiency and effectiveness are
important aspects of successful business
operations. Efficiency refers to the ability to
complete tasks with minimum resources,
reducing costs and time while maximizing
results [18], [19]. Effectiveness, on the other
hand, pertains to achieving desired results
and goals. Technological innovation plays an
important role in improving efficiency and
effectiveness in business operations [20]. By
leveraging technology, organizations can
automate processes, eliminate manual errors,
improve
workflows,
and
increase
productivity [21]. In addition, technology
enables organizations to collect, analyze, and
utilize data for informed decision-making,
leading to more effective strategies and
outcomes [22].
2.4 Previous Studies on Technology
Innovation in Banking
A number of studies have explored
the impact of technological innovation in the
banking
sector.
These
studies
have
highlighted the positive effects of technology
adoption on various aspects of banking
operations, including customer satisfaction,
operational efficiency, financial performance,
and competitive advantage [23]. For example,
research
[24]
has
shown
that
the
implementation of digital banking services
improves convenience, accessibility, and
overall customer satisfaction. In addition,
research has also shown that technology-
based solutions can improve the speed,
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