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Management Information System 1

Management Information System

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(MIS)

In

Banking SectorCompiled byAmandeepPrachiPradeepjerish


Management Information System (MIS)The term is not new to the banking sector. Since the

early 80s, banks have been using this terminology to refer to the process of generating various reports and analyses at the Corporate/Head offices for their decision making for own use as well as for conveyance to authorities in charge of regulation.

MIS in the present context of high availability of voluminous data on electronic media at diverse locations and on diverse platforms, has become more pertinent to banks’ decision-making process, thanks to the availability of new tools of technology such as data warehousing, data mining.

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Main ServicesConsumer Banking: provide Mortgages,

Credit Cards, Personal Loans, Auto Loans, and Wealth Management products. In order to maximize customer convenience, theyoffer 24-hour Phone Banking, e statements, SMS Banking, ATM Cards and VISA Debit Cards, aswell as Online Banking and state of the art branches.

Wholesale Banking: provides Transactional banking, Debt Capital Markets, Corporate Finance, Derivatives & Fx Options, Commodity Finance and deposit product.

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Organization computing resources:Software Resources:-Following software’s are used for

the functioning of our information system and organization;Application Software:- Following application software’s are used in our organization and

functioning of banking information system;

Microsoft Office NOD32 Anti-Virus Adobe Reader

System Software :-Following application software’s are used in our organization and functioning of Banking information system

Operating System (Windows XP and Linux) for PC’s Windows 2003 server for mainframes

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Hardware Resources: Following hardware resources are required for the functionality of IS and organization:

Personal computersCanon Document ScannersHP PrintersNetworking cardsCurrency counterCoin countersHP Digital ScannersDell Mainframes

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Computing Type: In bank, they are using client/server network because it is accessible and the employees easily share the data and this network is cheaper thanothers and this is easily maintainable and manageable. All the data save in main serveror HUB and employees can easily access it. This type of computing system provides aneasy access and efficient flow of data, which increase the functionality of organization .

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Transaction Processing SystemA Transaction Processing System (TPS) is a type

of information system. TPSs collect, store,modify, and retrieve thetransactions of an organization. A transaction is an event that generatesor modifiesdat a that is eventually stored in an information system. From a technical perspective,a Transaction Processing System (or Transaction Processing Monitor) monitors transactionprograms, a special kind of programs. The essence of a transaction program is that it managesdata that must be left in a consistent state.

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Payroll TPS In Standard Chartered payroll TPS is designed to get information

and record of the employ andthen to calculate his/her annual earning.It get information about the employee from the employee’s department and from general ledgerand send it to payroll TPS from where it links that information with the previous record andprepare a report which is forwarded to management. Management takes notice the “LN” recordof the employee’s efficiency to work and may declare added bonus or other incentive. This reportis checked and approved by the branch manager after which check is issued to the employee.And when that check is cashed, the record is updated in the general ledger as well as the masterpayroll (HUB).

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Customer Identification

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In Standard Chartered bank there is their own information management named software “Virses”is working which is connected to NADRA. So if any new client wants to open an account in thebank the system automatically send a request to NADRA to check and verify the customer IDnumber. Which helps the management to identify whether he/she is using his original ID card or not


Employees RecordEmployees Record :All employees are supposed to login when they enter the bank and logout on leaving, by tracingtheir thumb impressions on biometric device. This device is connected with the HUB whichEmployee DataGeneralLedgerLPayroll TPSPayrollMaster File(HUB)Management ReportsCheck

PassesbyManager

CheckIssued toEmployee

GeneralLedgerLInput(ID #)VirsesManagementHUBNADRA

(customeridentification)

continuously makes record of their hours spent in the bank. Moreover, the bank has their ownsetup named “LN” which makes records of all the transactions made by an employee. This helpmanagement to monitor the working efficiency of an employee.

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Real time BankingIn many circumstances the primary factor is

speed. For example, when a customer withdraws asum of money from his or her account the transactions are processed and the account balanceupdated as soon as possible, allowing both the bank and customer to keep track of funds. Thenew transaction is send to LN. The LN enters the HUB where the specified file is accessed. Theupdates are made entered there and finally the update is done.

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Online ComplainsStandard Chartered bank allows the

customer the option of online complains. The customersubmits the online complain which is then processed by Customer Service TPS which is linkedby management and after the problem identification it is send to the concerned department

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AdvicesAs all of the record of the customers are

stored in main server (HUB) of Standard Charteredbank, so incase if someone account balance is getting near to zero the system automatically alertthe management about that. Then manager take manual action and send him/her the advice (aletter, mail or phone call) to check the account balance

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Account OpeningThis TPS is designed for opening a new

account in the bank.Input: Give bio data, NIC no., income, city name.Process: Information send to the “virses”.Output: new account opened in the bank

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Online ActivityPurpose: Transfer funds with the

organization.Input: Concerned Branch code, city name, account title, amount & the transaction.Process: The information will send to organization server (HUB).Output: Transfer of fund to the concerned branch

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ATM CardPurpose: Easy with draw of cash.

Input:Give bio data, income summary, company name, NIC.Process: NIC no. and bio data send to “virses” which directly linked to NADRA. If informationis correct then it is forward to customer service centre.Output: Issue of credit card

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Car FinancingPurpose: Leasing a new car.

Input:Account title, down payment amount.Process: The information is send to the HUB and verify the account of customer and make theschedule for leasing for the given period of time.Output: Customer can get a new car.

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eShop NetBuyAxis Bank eShop NetBuy is developed by

Axis Bank and is used by 2 users of Software Informer. The most popular version of this product among 1.0

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New mobile payment method Bank is in advanced stages of beta testing a new method of using mobile phones to

make payments . If this mobile payment method is implemented, users can swipe their mobile phone and conduct various transactions, which were earlier possible using the credit cards.

Atm card- a product developed by the company and the accompanying software can embed a user's credit card data, over-the air like SMS into his mobile phone. A 2-D bar code will store this credit card detail, which will be unreadable for the user and will keep the credit card details safe even when the mobile phone is stolen or lost. Whenever, the mobile phone user has to make a payment he will have to provide his PIN details. After embedding the credit card details into the mobile phone, the instrument can be used in place of credit cards.

Purchases can be made at a merchant establishment, which has the requisitesoftware to implement the transaction. The company has called this swipingmodel as 'optical payment' and has received a patent in US for this paymentmode. A simple webcam is required to read the 2-D bar code and can beimplemented at merchant establishments at a very low cost

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Engineering

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