Online banking offers customers almost every service traditionally available through a local branch including deposits, transfers, and online bill payments. Virtually every banking institution has some form of online banking, available both on desktop versions and through mobile apps. During the recession of Covid-19 how the banks have reformed the policies to meet the requirements of customers and how much online banking is beneficial for customers during such disasters.

Evaluate how Business Information Systems can improve the efficiency and effectivenessof a financial business entity within the Caribbean. Use at least two (2) appropriateexamples to support your response.

Until 2007, CrossRock was seen by insiders, customers and many in the wider financial community as a successful financial services company offering mortgage products to the United Kingdom market and providing a portfolio of savings products. Initially, like other traditional building societies, CrossRock relied on its saving products to fund much of its lending but over time, it started to source more and more of its funding through wholesale borrowing on capital markets, bonds and securitized loans. These new sources of funding provided a platform for expansion and the development of a new profitable business model that involved lending higher risk mortgages product (loans of more than 100% of the property value) and making these loans available to a wider customer base, including some customers who, by industry standards, would not have been judged as able to afford the repayments. While property value continued to increase, this business model was very successful and CrossRock…

why did the 2008 financial crisis affect the world ? provide scholarly sources