Impact of Innovation Technology in Banking Sector in Sri Lanka

Information systems (IS), technically are a set of interrelated components that collect and retrieve information, process and store it and support the organization in decision making. Information Technology (IT) is a shared technology and provides the platform for specific information. It consists of hardware and software for a business to achieve their objectives. Included is the computer systems, the computer, any hand-held devices, software the company needs to operate and storage. (20)

The United Bank is an organization that engages in banking and uses Information Technology to help serve customers from banking firms better. The firm’s headquarter is located in the United State with potential of venturing internationally. The purpose of this Information Technology Strategic Plan is to presents initiatives that the bank must undertake to achieve the continued success and improvement of the Information Technology at the banking sector. This strategic plan involves the uses of SWOT analysis as the centerpiece initiative to achieve the future of this firm using modern technology, such as, cloud computing. The plan will accelerate the future of this firm by automation and streamlining of many of the manual and fragmented processes that the firm is currently using. The results of this analysis are therefore proposed as Information System applications, like, Knowledge Management System Application, Automatic Files and Data Transfer as well as Cloud Computing to help serve customers efficiently and effectively thereby increasing revenue earned. The results of this analysis also generate various policies requirements to be adopted by the bank so as to realize revenue increase from the current $5 million to $20 million per year. The plan therefore, shows how customers in the banking sector can conduct basic banking transactions electronically at their

Management information systems, also known as MIS, are computer systems that direct business and organize operations or files. Many people wonder why

(Sivaprasad & JangaJe, 2012): With the introduction of Information Technology in the business, every organization that comprises IT has started to take benefits of this technology. This is done by attaining the advantage over other competitors in the market, by providing new features to the customers after incorporating technology at the operational side specially, increasing the operational speed and reducing the probability for any error in operations. (Wen, 2012): IT also assists higher management in the process of decision making.

This case study aims at providing substantial information pertaining to the effects adopting IT in a particular banking institution. The researcher understands that there are important issues that have to be disclosed and discussed in order to determine aspects that need to be improved for both subjects involved in the study. For the purposes of achieving a comprehensive discussion regarding the topic, substantial amount of data has been gathered to serve as references. Direct texts are taken form relevant sources so as to prove that claims and arguments raised by the researcher are facts-based. In addition to this, direct statements coming from persons who are knowledgeable about the topic are also taken into account for the purpose of supporting arguments. Textual illustrations and practical examples are also included by the researcher in order to clarify ambiguous concepts and strengthen explanations.

Information technology (IT) is a field concerned with the use of technology in managing and processing information

The purpose of this report is to explain what “Management Information Systems” (MIS) is. This report will discuss how management information system helps different departments in an organization. The functions and advantages of using MIS will also be examined in this report.

The process of globalization and liberalization has virtually transformed the way of running business across the globe. Technology has entered into every sphere of the human life and the financial sector is no exception to it. E-banking, a product of the research conducted in the field of banking and financial services over the last century, is being used in India for some time now in the form of digital data in computers, Automated Teller Machines, credit and debit cards, mobile banking and net banking. Internet or e-banking means that any user with a personal computer and a browser can get connected to his bank’s website to perform any of the virtual banking functions. E-banking services can be availed for payment of bill, fund transfer,

Information Technology is a developing technology that aims at obtaining the maximum information with minimum of resources, labour or time. According to the dictionary, Information Technology is “the study or use of electronic equipment especially computers, for storing, analysing and distribution of information of all kinds, including words, numbers and pictures.”

Information technology includes both the computer technology that enables the processing and storing of information as well as the communication technology that enables the transmission of this information.

As per requirement of Managing Information module, the authors are asked to complete a case study assignment on “Does IT Payoff ? : Strategies of Two Banking Giants ” answering three particular questions. Some have argued that companies should spend less on information technology (IT) and wait longer to invest in more matured technologies because IT is a commodity and brings little competitive advantage. In this assignment, the authors are required to critically examine the validity of this view and determine how the two banks could justify their multi-billion dollar annual investments in IT. It is also necessary to critically analyse the IT investment strategies of HSBS and Citigroup. Finally the authors will analyse how companies

IT is the technology that involves in the development, maintenance, and use of computer systems, its software, and networks for the processing and distribution of data. “IT” includes hardware and software both together used to perform required functions. All electronic devises which record and store information comes under IT. IT can also refer to the methods, mechanisms and principles of usage and storage of data. Business applications include database, email and also web servers like Microsoft IIS or Apache. Variety of software tools involves various operating systems and their related applications that are used to perform essential functions. Electronic Devices or gadgets, equipments or resources like

If we talk about information technology (IT), then, its an application of computers to store, retrieve, transmit, and manipulate data, or otherwise as information, often in the context of a business or other enterprise (Daintith & John , ed, 2009). It plays an important role in driving every aspect of our life: home, workplace, health, education etc. Internet, Intranet, Surveillance, networking, Multiple Softwares being its indispensable tools, has

The way to represent the information system and the information technology have been increase day by day. The information technology have become increase day by day to help people to represent the information. The way on representing the information system may interesting information technology may attract the people to came and join the bank. This may give a big effect to the company. Competitive advantage is a superiority gain by an

Management Information Systems (MIS) is the term given to the discipline focused on the integration of computer systems with the aims and objectives on an organization. Modern businesses have been leveraging on MIS to manage, order, organize and manipulate the gigabytes and masses of information generated for various purposes. MIS helps businesses optimize business processes, address information needs of employees and various stakeholders and take informed strategic decisions. The development and management of information technology tools assists executives and the general workforce in performing any tasks related to the