85323526 final-case-study-report-of-mis

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DEPARTMENT OF COMMERCE

AND MANAGEMENT STUDIES

UNIVERSITY OF CALICUT

REPORT ON CASE STUDY IN FEDERAL

http://www.homeworkping.com/







BANK, RAMANATTUKARA

Submitted to, submitted by,

Dr. P. Mohan Harikumar c

Faculty, DCMS Vishad k

Sareesh k

Submitted on: 29-feb.2012

ACKNOWLEDGEMENT

We would like to keep on record our heart full thanks to our HOD, Prof.M.A.Joseph,

DCMS Calicut University.

We express our special thanks to Dr.P.Mohan, lecturer in Management Information

System, for his encouragement, able guidance and kind co-operation projected at

various stages of this work.

The case with which the firm visit could be conducted was wholly due to the whole

co-operative assistance of Senior Manager, Federal bank- Ramanattukara, and staff

members of the entire division of the concern, for their valuable suggestions and

ideas.

CONTENT

SL NO:

TOPIC

PAGE NO.

1 ABSTRACT 1

2 INTRODUCTION 2

3 ABOUT THE FIRM 3

4 LITERATURE REVIEW 5

5 CASE ANALYSIS AND DISCUSSION 7

6 FINDINGS 13

7 CONCLUSION 16

8 REFERENCES 17

ABSTRACT

In today’s world, which is highly competitive, having the proper installed

management information system is a basic reason for the survival and growth of

banking companies in general. In fact it is the era of the information explodation. All

banking deals with the well maintained MIS to track the customers from time to

time. Proper planning and installation of MIS in a bank, is a must.

We visited FEDERAL BANK, RAMANATUKARA on 24th February, 2012 to study the

MIS installed in the bank. The study helped a lot to understand what sort of impact

can be made by the proper MIS to the bank.

The objective of the study is to understand the way in which the bank is conducting

its events with the help of its well established MIS. Federal bank is using MIS in a

well arranged manner and gaining maximum advantage through the system.

Introduction

The globalisation of business, widespread technological innovations, social

and political changes and an increased awareness in customers are some of the

factor that has forced the business world to undergo rapid changes. A growing need

for guidance on concept, issues and strategies for understanding, developing and

managing information system in organisation is being felt over the world. This is

because of the fact that information is vital and necessary input in decision making.

It goes without saying that all managerial functions are performed through

decision making; for taking rational decisions, timely and reliable information is

essential and is procured through a logical and well structured method of

information collecting, processing and disseminating to decision makers. Such a

method in the field of management is widely known as management information

system (MIS)

In today’s world of ever increasing complexities of business as well as

management, every business organisation, in order to survive and grow, must have

a properly planned, analysed designed and maintained MIS so that it provides timely

, reliable and useful information to enable the management to take speedy and

rational decision.

Here we, HARI KUMAR C, SAREESH K AND VISHAD focusing on the MIS of the

Ramanatukara Branch of Federal bank in the coming pages.

Type Public Traded As NSC:FEDERAL BANK

BSC:500469 LSC:FEDS

Industry Banking And Allied Industries Branch name Ramanattukara

Address Ramanattukara, Kozhikode, Kerala

About The Firm

Federal Bank- An Overview

Founded Kochi 1945

Headquarters Federal Towers, Aluva, Kochi 683 101 Kerala, India

Key People Shyam Srinivasan(CEO)

Products Loans, Savings, Etc......

Website www.federalbank.co.in

BANK PROFILE

Federal Bank is a fast growing premier private sector bank in India with

business exceeding INR 3,600 million and INR 61.3 million. As of December 31, 2011,

it has 832 branches spread across 24 states in India and 803 ATMs around the

country (across 108 metro centres, 224 urban centres, 384 semi-urban locations and

87 rural areas). The bank is planning to expand its branch network to 1000 by march

2012.Technology has played a major part in the bank’s aim to differentiate itself to

its customers. ATMs, Internet, mobile banking and other channels have broken the

barriers of location and time, and have expanded the reach of the bank’s

operations, earlier confined to the branches.

Background of federal bank

the federal bank limited, previously known as, the Travancore federal bank

limited in its entire span of customer services has been both ups and downs. The

bank started with an auction-chitty business along with other banking transactions

related to agriculture and industry. In the year 1945 a new board of directors was

constituted and opened a branch in Aluva. A massive expansion plan was introduced

in the years 1975 and1976by opening 53 and 42branches respectively.

Across the globe, banks focus on IT investment protection, best use of

available resources and reuse of developed components. Even though the objectives

appear to be simple, putting these into practice has been a tough task and very few

organizations have accomplished these objectives on a scale that is comparable with

the global standards and demonstrated perceivable benefits. Federal Bank is one of

the very few organizations that have accomplished these objectives.

LITERATURE REVIEW

What is MIS?

A management information system (MIS) provides information which is

needed to manage organizations efficiently and effectively. Management

information systems involve three primary resources: people, technology, and

information or decision making. Management information systems are distinct from

other information systems in that they are used to analyze operational activities in

the organization.

The successful MIS supports a business's long range plans, providing reports

based upon performance analysis in areas critical to those plans, with feedback

loops that allow for titivation of every aspect of the enterprise, including

recruitment and training regimens. MIS not only indicate how things are going, but

why and where performance is failing to meet the plan. These reports include near-

real-time performance of cost centers and projects with detail sufficient for

individual accountability.

Types of MIS

Most management information systems specialize in particular commercial and industrial sectors, aspects of the enterprise, or management substructure.

Management Information Systems (MIS), per se, produce fixed, regularly scheduled reports based on data extracted and summarized from the firm’s

underlying transaction processing system to middle and operational level managers to identify and inform structured and semi-structured decision problems.

Decision Support System (DSS) are computer program applications used by middle management to compile information from a wide range of sources to support problem solving and decision making.

Executive Information System (EIS) is a reporting tool that provides quick access to summarized reports coming from all company levels and departments such as accounting, human resources and operations.

Marketing Information System are MIS designed specifically for managing the marketing aspects of the business.

Office automation System (OAS) support communication and productivity in the enterprise by automating work flow and eliminating bottlenecks. OAS may be implemented at any and all levels of management.

School Management Information System (MIS) cover school administration, often including teaching and learning materials

THE MIS STRUCTURE OF FEDERAL BANK

HEAD OFFICE

MANAGER

ZONAL OFFICE

MANAGER

REGIONAL OFFICE

MANAGER

BRANCH OFFICE

SENIOR MANAGER

INTR

AN

ETWO

RK

DR

ISYA

MED

IA

CASE ANALYSIS AND DISCUSSIONS

Federal bank has the great potential to become the best service provider in its

area of operation. Its management information system includes the introduction of

the software named finacle and the intranet, drishya media they are using.

Why MIS in Federal Bank?

One of the main challenges on the way to growth for Federal Bank's management

team was to choose between a packaged cores banking solution or to continue

leveraging its proprietary system. The bank envisaged aggressive plans for growth -

both organic and inorganic, and the team ultimately felt that the existing proprietary

system was not capable of meeting requirements due to its rigidity. The

commitment to goals and an organization-wide attitude to welcome the change

were most important for the final decision in this regard. As per the management at

Federal Bank, to move to a new generation core banking solution, it was essential

that:

The new solutions was capable of accommodating and building upon existing

products that the bank offers and also help bank release futuristic products.

The new solution significantly improves the customer's banking experience

ASSISTANT MANAGER ASSISTANT MANAGER

PROBATIONARY OFFICER

CLERCK CLERCK

CLERCK

The system is capable of interfacing with various delivery channels like ATM,

Internet banking and so on

The new solution helps the bank comply with regulatory requirements. The

next step was the selection of the packaged solution.

Federal Bank framed a well-defined and clear-cut plan for selection of

appropriate system identifying the strength and weakness of the recourses

and infrastructure available

A strong pool of experts was identified to lead the mission

A thorough selection process was initiated which resulted in three shortlisted

solutions

Vertical and horizontal evaluation process was performed by experts taking

inputs from all possible sources

The bank's team mapped the capabilities of each system against the business

requirements and Finacle from Infosys was selected by the bank.

What is Finacle?

FINACLE universal banking products are designed to address the core banking,

e-banking, Islamic banking, and treasury, wealth management and CRM

requirements of retail, corporate and universal banks. It is developed by Infosys and

is one of the major players in the arena of core banking in Indian and Asian banking

domains.

Services

Providing support & services is typical in such huge software implementations.

Services provided by Infosys for the maintenance of the application include.

Application development and maintenance

Application management

Independent validation

Migration services

Performance tuning

Software performance engineering

System integration

Value mining

Integration into Pricing Engines typically used in Banks, with partners such as

Suntec.

FINACLE – The solution

Federal Bank decided to adopt a centralized architecture for better efficiency,

more control and for meeting challenges of the future. After a rigorous selection

process, Federal Bank decided to adopt innovative technology by procuring Finacle

universal banking solution from Infosys to fuel its retail core banking transformation

initiative.

The solution was fully equipped to accommodate and build upon existing

products that the bank offered to its retail customers and empower the business to

introduce futuristic products as well. It promised to significantly improve the

customer's banking experience and support it through various delivery channels like

the Internet etc. A significant reduction in time-to-compliance was another key

solution differentiator.

The replacement exercise began with rigorous testing of the Finacle solution using a

large number of test cases, representing various types of retail transactions typical

of Federal Bank's operational scenario. The setting up of the data centre and

disaster recovery site in accordance with international standards, in different

seismic zones, was also planned and executed.

Federal bank started an aggressive roll out of the system in the last week of April

2007. Once the full-fledged implementation started, the bank surmounted the

change management challenges in human capital. The most important factor was

getting the staff to unlearn whatever they had learnt and the staff had to be

motivated to assimilate the benefits of migrating to a new environment, explore

more of the new solution and draw more from it.

Federal bank is an end-to-end solution provider for customers in a distributed

system through various channels such as ATM, telebanking, mobile alerts, e-mail

alerts, and electronic bill payments, RTGS, NEFT and its flagship offering – anywhere

banking. Federal Bank identified 36 channels, which enabled the bank to run a

centralized system even though it was running on a distributed system; seamless

integration of these entire channels was a major focus during CBS implementation.

The solution is designed with Oracle RDBMS back-end; open architecture is

developed and tuned on HP, Sun & IBM UNIX platforms.

Finacle solution came ready with almost all channel services. A major business

challenge was the seamless integration of these channels providing customers with

un-interrupted service even during the transition period. The technical team

identified Finacle channel integrator Connect 24 as the starting point for channel

integration. Most of the Fed Soft legacy system was integrated with Financial

Messaging Service (FMS) and an interface was internally developed for

communicating between Fed soft and Finacle. Every channel was integrated thought

this interface.

Some Federal Bank channel features integrated are listed below;

FedNet (Finacle e-Banking)

A customer who wishes to access his/her accounts through Internet has

to register by submitting the FedNet application downloaded it at the branch

where he/she is having the account. If the account is maintained by more

than one person (irrespective of the various modes of operations like, Joint /

Either or Survivor etc), mandate in favor of the user (operator) in the specified

form also should be submitted along with the application. There are separate

mandate forms download it for individual accounts and

Partnership/Trust/Company etc accounts. Mandate form should be signed by

all the account holders/signatories. In case accounts in more than one branch

are to be linked, customer can submit the FedNet application to any one of

these

E-mail alerts

Now the customer can receive their account details in their mailbox. All

they need is an email address for receiving the alerts. Following are the areas

covered under e-mail alerts

Statement of accounts: the customer have the option to request Daily, /

Weekly / Monthly statement of accounts and can receive statement by email

provided there was transactions in that account during the period selected.

Intimation of cheque book issue: the customer will receive e-mail intimation

of cheque issue in the registered account on the same day.

Deposit due date intimation: the customer will receive the due date

intimation mail 10 days prior to the actual due date.

Deposit renewal details: the customer will receive the details of the new

account by email on the same day of the renewal.

Standing instruction expiry: The customer will receive the intimation mail 10

days before the standing instruction is due for expiry.

FedFast

Fed Fast is the state-of-the-art remittance platform through which NRIs

can make Rupee remittance from Gulf countries to the beneficiary’s account in

India. Once the remitter remits money at the Bank / Exchange house in the Gulf,

the amount is credited to the beneficiary’s account with Federal Bank or any

other Bank within a short span of time.

Why Fed Fast?

Fed Fast is not restricted to the Federal Bank customers alone. NRIs can

also remit funds through Fed Fast to accounts with any banks in India. Federal

bank have the largest number correspondent arrangements from GCC and this

gives more choices for our customers to transfers funds. Federal Bank have tie-

ups with 52 Exchange Houses and 5 Banks in the Middle East for making

remittance.

Mobile banking

This is a facility that enables customers to access banking facility through

mobile. Mobile Banking enable customers to make inquiries and do transactions

(like fund transfer, cheque book request etc.) through their mobile phones

Eligibility

All SB and current account holders with mode of operation as Single/

Sole proprietorship, either or survivor or anyone or survivor can be registered

for FedMobile facility. Joint accounts and accounts in which minors are

involved are not eligible for FedMobile registration

Services Offered

PULL based services (initiated by the customer)

PUSH based services (originated by the Bank)

Request services (initiated by the customer for placing various

requests/instructions to Bank)

(The customer can avail Mobile Banking on any Mobile Phone with valid connection

from a service provider. However for enjoying all the services offered through

Mobile Banking, a handset with added features is essential.)

Technology in Use

SMS: It works on the "Text Messaging Facility"also called the SMS that is

available on mobile phones. This facility allows you to send a short text

messages to 5676762 or +919895088888 from your mobile phone instead of

making a phone call. The response is sent to you as an SMS message, all in the

matter of few seconds.

GPRS: General Packet Radio Service (GPRS) is a packet oriented mobile data

service through which you can access the services of Federal Bank Mobile

Banking using your MPIN. GPRS will be enabled by the mobile service

provider.

J2ME: Using GPRS Internet Connection, You can download the Mobile Banking

application on your mobile handset from our Bank's website

https://mobile.federalbank.co.in/j2me

FedEpay

Cash management system (CMS).

RTGS –FedFlash

Anywhere banking

https://mobile.federalbank.co.in/j2me

FINDINGS

In the fast changing environment of the Indian banking space, the speed and

efficiency of banking services through effective use of technology will be essential

for banks to attract and retain profitable customers. Federal Bank believes that

technology enables banks to have better centralized control systems. Finacle core

banking solution has positively impacted Federal Bank’s customers and staff. Some

of the key benefits are highlighted below:

CBS pilot implementation target of 16 branches by March 2007 was achieved

in February 2007, well ahead of schedule

Phase by phase CBS migration was successful. Currently all branches have

been migrated and are running on Finacle. Entire bank’s migration was

achieved in a record speed of less than a year

Bank has been able to translate a substantial number of general customers to

regular and frequent customers

Federal Bank conducted a customer survey and around 60% of customer have

noticed a marked improvement in the usefulness and convenience of the

features of the new banking system

Improved 24/7 availability - 99% uptime

Apart from acting as a tool for customer accretion, features and

functionalities in Finacle helped to generate revenues by reducing transaction

cost, increased speed and reduction of dependencies and thereby providing

comfort to the customers in the arena of banking transactions and allied

services

Disaster Recovery Setup (DR) became operational offering all the facilities

according to international standards (Level 3+). DC/DP switching was

performed smoothly without any branch activity being affected

Realignment of business processes with industry best practices which was

achieved by adopting Finacle; this also resulted in reduced support &

maintenance costs

Consolidated MIS is now available as per requirements on a daily basis.

Consolidation was earlier done monthly and trade finance business reports

excluded from consolidation

Highly parameterized product definition functionality permitting bank to

introduce products in minimum time

The bank has already launched:

Complete straight through cash management system which handles entire

clearing and collection requirements of branch (Complete web-based J2EE

solution developed in house)

Online account opening and loan processing. (Complete web based (J2EE)

solution developed in house )

Products in pipe line expected to be launched soon

Savings account (4 Categories) current account (4 Categories)

Online share trading

Straight Through Processing of foreign remittance

Mobile commerce

The bank expects to increase the number of customers to 4.6 million with the

help of technology in the next 12 months without increasing any staff

resources

Centralized bank functions - The performance of the bank will improve in all

spheres of activities; some of the advantages the bank have been able to reap

by implementing a centralized solution like Finacle are:

Reduced time to launch and time to market for various products - the

availability of the product is simultaneous at all its branches

Also interest rate changes, daily exchange rates etc. can be centrally

administered. Branches will act as service outlets and cater to the needs of

the customers

Most back office jobs like account opening, issue of cheque books, customer

letters, clearing etc are centralized at a Central Processing Centre. Once field

level functionaries are relieved from such drudgeries, they can concentrate on

business development, resource mobilization, recovery etc.

MIS is available centrally. Hitherto the administrative offices sought various

reports from the branches. With the data residing at a central point, any

report can be generated centrally

With data hosted centrally, various sophisticated software for data

warehousing and data mining can help the bank in implementing a decision

support system to aid the bank in arriving at decisions in Asset Liability

Management or monitoring compliance with regulatory requirements

With CRM module in place, it is easy to segment customers and products can

be designed to suit each segment of clients

All channels like AWB, FedFast , FedNet Bill Pay online bill realization, Mobile

Alert, and Email Alert were successfully integrated with Finacle enabling the

bank to continue to offer the unique services available in FedSoft. Even during

the transition period, entire channel service was offered to customers without

any interruption

Transition period did not pose any hurdles to the expansion strategies of

Federal Bank including ATM expansion to 447 numbers. During migration

period nearly 100 new ATM’s were opened

New wing “Central Processing Centre” (CPC) has been set up and is fully

functional. Nearly 25000 loan and 38000- account opening and modifications

were processed through the system during this short span

Development of complete MIS system was based on Finacle data.

CONCLUSION

The technology has opened up new markets, new products, and new services and

efficient delivery channels for the banking industry. Online electronics banking,

mobile banking and internet banking are just a few examples. Information

technology has been the cornerstone of recent financial sector reforms aimed at

increasing the speed and reliability of financial operations and of initiatives to

strengthen the banking sector. MIS provides vital information at the right amount, in

the right time. It has set the stage for unprecedented increase in financial activity

across the globe.

MIS makes the tremendous changes in banking sector. Banks provides lot of services

to its customers with the help of the MIS. It enhances speed, reliability, global access

and reduce burden of paper. By using Finacle core banking solution reduce man

power in banking and effectively addresses their strategic and needed flexibility to

adapt to dynamic environment.

REFERENCE

1. Management information system- Gordon B Davis & Margrethe H Olson.

2. www.federalbank.co.in

3. Booklets and broachers of the federal bank.

4. Homework Help

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85323526 final-case-study-report-of-mis