Role of IT and IS in Banking
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How IT and IS is different and what are it's role w.r.t Banking
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Role of IT and IS in Banking
- 1. Prepared by, • Jigar • Hardik • Rohan
- 2. Outline Banking Sector Introduction Difference between IT & IS Opportunities of IT in Banking Challenges of IT in Banking Banking Divisions and its Role Conclusion
- 3. Banking Sector 9% 15% 26% 10% 40% 50% GDP Contribution Agriculture Sector Industrial Sector Services Sector Banking Sector Others Source: Planning Commission, Govt. Of India
- 4. Difference between IT & IS Information Technology Information System
- 5. Opportunities of IT in Banking Centralization of Bank’s data Helps in decision making Shelf life of paper documents Replacing older method of cash withdrawals and deposits Human errors in interest and other calculations
- 6. Challenges of IT in Banking Customer retention Security Technical Challenges Software bugs Not all the process can be taken care-of Costly updates
- 7. Banking Divisions Core Banking Mobile Banking Internet Banking Batch Extracts and Statement & Notices Mobile Banking Internet Banking Statement & Notices Batch Extracts Core Banking
- 8. Core Banking Role of IT Simplify monetary and non-monetary transaction EOD processing Automatic Passbook printing Finger-print based transaction Role of IS Customer attrition prediction Sales analysis Report for higher management
- 9. Mobile Banking Role of IT Balance Inquiry Fund Transfer E-statement Role of IS Data conversion as per mobile app format
- 10. Internet Banking Role of IT Online payment Loan application Online TD/RD creation Role of IS Data conversion as per web-page requirement
- 11. Batch Extracts/Statement & Notices Role of IT Statement Printing Extracts for third parties Notices generation for customer Role of IS Data processing for both Forecasting
- 12. Conclusion Both IT and IS plays a vital role in Banking Saves time Eases Monitoring Can be accessed from anywhere User-friendly Secure Less human error in accounting
- 13. Thank you
Editor's Notes
- Information systems (IS) and information technology (IT) are often considered synonymous. In reality, information technology is a subset of information systems. The perception that these terms can be used interchangeably can cause confusion for individuals interested in pursuing a technology-related career. Although both these fields deal with computers, they have distinct characteristics and specific career paths that require different education and training. Information Systems Information systems is an umbrella term for the systems, people and processes designed to create, store, manipulate, distribute and disseminate information. An information system, however, can be as simple as a pencil and a piece of paper. Separate, the objects are just tools. Used together, they create a system for recording information. Although information systems are heavily reliant on computers and other technology-based tools, the term predates computers and can include non-technological systems. Information technology falls under the IS umbrella but deals with the technology involved in the systems themselves. Information technology can be defined as the study, design, implementation, support or management of computer-based information systems. IT typically includes hardware, software, databases and networks. Information technology often governs the acquisition, processing, storage and dissemination of digitized information, or data, generated through the disciplines of computing and telecommunications.
- Switching back to old method of banking will be tedious, time consuming and erroneous.