Question

Select a financial institution and identify the information needs, evaluate the information value and propose solutions to business problems (e.g. lack of an integrated information system) or the improvement of business operations (e.g. Fintech).

Answer 1

For the purpose of this description we choose “BillDesk Payments services Pvt Ltd : to identify with the information needs of the organization and suggest actionable solutions to the problems

No	Information Need	Value of the information
1	Payment network provider information	· For a payment service network company which channelizes the online payments , it is the most crucial information as the customer details are passed onto the issuer network in order to charge the instrument and pass on the amount collected to the merchant
2	Small merchant lead database	· In order to expand the business with all the merchants , a lead database in needed to approach all the local merchants in the region
3	Channel member information	· The participating channel members and their charges information are needed before hand as this needs to be passed onto the customer before he/she makes a payment method selection
4	Credit appraisal information	· In order to provide with small lending’s to parties , credit appraisal is important to check the ability to payback and the amount of limit on credit that can be allowed
5	Credit rating scores information	· Credit scores information are also required for processing the lending based activities
6	Customer Identification Verification database	· In order to verify the authenticity of the information provided by the customers and prevent any cyber fraud , this information is crucial

The following are the actionable solutions offered to the problem s

No	Solutions
1	Partnering will major CC/DC issuers- to Accept all major payment channels
2	Appointing agents to survey local merchants on boarding - to survey and onboard the small local merchants willing to get their business online
3	Creating an in-house customer database – an integrated database for storing customer credentials
4	Adopting a similar credit appraisal model – For granting small business loans
5	Integration with Govt social security database- to compare the authenticity of the information
6	Internetwork expansion with 3rd party payment channels

Thanks