Answer to Question #203792 in Management for yihunie asmare are

Question

Take any organization you closely know (other than MIC) and suggest a problem solving information system that can serve such organization. In doing so, please explain the problem first and then suggest the corresponding information system which you think can solve the problem. Show with examples on how it can solve the business problem you identified

Answer 1

Information System Solutions

Introduction

           Having reliable digital systems is an important foundation for businesses that intend on retaining their clients and attracting potential customers. Most businesses are offering digital solutions to the modern problems their clients are facing. The banking sector has particularly been on the frontline of digitizing financial solutions. Truist Financial Corporation is a financial entity that offers a range of financial services to its clients. Some of the services it provides are banking services, insurance services, property management, and mortgages, among others. When financial service providers were embracing technology and going digital, Truist Financial was not left behind, and it integrated technology into its banking systems. Truist Financial developed a mobile banking app and website that enabled its customers to access banking services from their homes. The app and website enable customers to make transfers, pay bills, receive money and access their bank statements. The system was working seamlessly until recently, when customers started reporting having trouble accessing their accounts. Some customers have also reported that they have lost money from their accounts mysteriously, and the bank suspects that the system has been compromised.

Information system upgrade

            Truist Financial Corporation values its customers, and since the issues were reported, the bank has had an information systems team solving the issue. The bank has upgraded the website and updated the mobile banking app. With the update on the information system, customers will get links on how to access the website on their emails. Clients will also have the links to download the app securely sent to them. The bank will also be maintaining its systems regularly to avoid bugs in the system. The update on the information system has incorporated additional features that will make the services more efficient. Customers, for instance, will be able to send money to other banks and mobile money platforms all over the world (Cavus & Christina, 2016).

Improved verification process

           To avoid the security of customer's financial information from being compromised, the bank has upgraded the security features on its digital banking solutions. The information systems team has integrated the use of a three-step verification process. Customers will be required to enter passwords before accessing their apps, and they will also get one-time passwords from the bank ("A Survey on Protecting Mobile Banking From Intruders", 2018). Customers will also be required to enter their set passwords before transacting. With the improved verification system, customers will feel their funds are secure, and cases of losing money will cease. With the improvements in the information system, mobile banking solutions will be more secure, reliable, and convenient to customers.

 

 

 

 

 

 

 

 

 

 

 

 

 

References

A Survey on Protecting Mobile Banking From Intruders. (2018), 5(1). <span style="font-size:12.0pt; line-height:200%;font-family:&quot;Times New Roman&quot;,serif;mso-fareast-font-family: &quot;Times New Roman&quot;;color:#1155CC">https://doi.org/10.21742/ijstsd.2018.5.1.02</span>

Cavus, N., & Christina, D. (2016). Information technology in the banking sector: Review of mobile banking. Global Journal Of Information Technology, 5(2), 62. https://doi.org/10.18844/gjit.v5i2.196