Answer to Question #203914 in Management for Meseret Refera

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

Online Banking information System - Case of Standard Chartered Bank

Problem

Standard Chartered Bank has been providing banking services to its customers for decades and the banking services provided by the bank to its customers includes; deposit taking, safe keeping of precious items as well as documents and offering loans and other forms of credit. In order to access these services the customers have to physically go to the bank.

Online Banking Information System as the Solution

But all that changed will the launch of the online banking information system. With the launch of the software it meant that the bank customers would access the same services through an online platform in their phones and laptops from the convenience of the exact location where they are be it at work or at home and will not have to physically go to the bank.

Functions of Online Banking

·        The customers will be able to access their account details, statements and transaction history without the need of physically going to the bank (Chavan, 2013).

·        The customers will be able to make online payments as well as conversion of currency.

·        The customers will be able to pay their utility bills through online banking.

·        The customers will be able to apply for loans online.

·        The customers will be able to transfer funds from one account to another.

References

Chavan, J., 2013. Internet banking-benefits and challenges in an emerging economy. International Journal of Research in Business Management, 1(1), pp.19-26.