Question

What does a bank need for information, 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

Banks Need information like :

i) List of Inactive accounts

ii) List of accounts going down below minimum balance

iii) List of regular payments not made

iv) defaults on loan repayment

v) A sudden rise and fall in the account movement .

vi) Default in arrival of routine credits

So these information are very valuable .

The problem of Lack of integrated information system can be solved by reducing or totally eliminating the time spend in information retrieval . Often human errors can be a problem so it can automate the entire system and strenghten the the checking process by a supervisor . we can alos take the help of softwares and expert information system .

The banking operations acan be improved by :

i) Staff Productivity - Introducing technology and completely automating the system can improve staff productivity , enabling banks to handle more volumes of transaction . Introducing scorecards , rewarding the staff according to their performance

ii) Technology - allowing customers to make transactions remotey and without staff help e.g net banking , atm . Technology can manage sales and cutomer relationship activities well