Assume that you are appointed as the system analyst for the development of generalized complete software package for a commercial bank. Describe 5 functional areas of banks which should be addressed by the software and why?

A Management Information System ICT Revision Questions and Answers

One of the key jobs of system analyst is to understand the requirement clearly. While developing a generalized complete software package for the commercial banks, system analyst should know the functional areas of commercial banks. Here are few general functional areas of commercial banks. Deposit Collection
The most important function of commercial banks is to accept deposits from the public and organization. Various sections of society, according to their needs and economic condition, deposit their savings with the banks. The software should be able to handle the information related with the personal details of depositor, amount collected on different time frame, interest given. Deposit collection simultaneously connected to withdrawal. So the information related with withdrawal should also be handled by software.

Giving Loans
The second important function of commercial banks is to advance loans to its customers. Banks charge interest from the borrowers and this is the main source of their income. So information of borrowers, collateral amount borrowed, interest rate, interest amount, payment installment, penalties etc on time basis are the essential features that should be available with the information system.

Investment of Funds
The banks invest their surplus funds in three types of securities—Government securities, other approved securities and other securities. Government securities include both, central and state governments, such as treasury bills, national savings certificate etc. The information management of such things will be another crucial area that software should be able to address.

Human Resource Management
Human resource management of the bank is another important part of the commercial banks. Hiring right man, placing on appropriate job, his/her remuneration and capacity building are the key areas of human resource management. Moreover, information system is mainly concerned with recruitment to retirement of human resource this included keeping personal, academic and

professional records of staffs. The software should be able to track the performance of human resources so that it can be utilized in incentives and career growth.

Customer Relationship Management
This is a novel concept in the field commercial banks to get connected with the customer regularly even in the personal event of the customer so that they feel honored. CRM in generally segregate the customer based on some criteria e.g. high business customer, most loyal customer, new customer etc. This helps in the long term association of banks with its client. By keeping personal date‘s e.g birthday, marriage anniversary bank can send some gifts to the valuable customer to attract them. Simple wishes can also be made by email or phone to let them know that bank is always with them.

Leave a Reply

Your email address will not be published. Required fields are marked *