Scenario:
Mall Bank (MB) is a regional bank with 20 branches that provides a full range of banking services/products. It has a small call centre that can handle complaints and general questions about accounts. The staff in this call centre are allowed to use their own mobile devices such as laptop, mobile phone, or tablet in their work.
The business vision of the bank is to “Be the most loved and trusted national bank in the country”
The CEO is wondering if the current IT infrastructure is good enough to achieve the vision.
- The bank accounting and Customer Relationship Management (CRM) software is outdated.
- The mobile banking app is not as good as other banks’.
- The bank database is stored in a company data centre that has limited capacity.
The CEO would like to ensure the IT infrastructure can cope with the peak demand during busy periods and improve the speed of transaction processing time.
At the same time, the bank has a number of existing systems including HR/payroll, General Ledger, Mortgage repayment, ATM and CRM systems. The CEO is worried that management is not seeing the whole picture of the bank’s business.
In addition, he is interested in gaining some insight to the changing patterns in customer use of banking products to target marketing. He would also like to analyse the data to decide which are the most profitable areas to expand into and which should be scaled back.
Therefore, the CEO is asking the IT manager to design an ICT management plan which aligns with the bank vison.
Based on the Scenario above:
Question 1 (4 points)
Briefly describe two IT Strategy theme/enhancements for IT infrastructure that would be in alignment with this vision. (4 Marks - 2 marks for each strategy theme/ enhancement)
(Around 200 words)
Modernization of core systems and mobile banking app
In order to increase operational effectiveness and customer happiness, the bank must upgrade its antiquated accounting and CRM software. Real-time insights into client interactions, improved connection with other financial services, and more individualized service delivery are all possible with contemporary, cloud-based CRM systems. Similarly, the bank will be positioned competitively in the market if the mobile banking app is improved to offer seamless user experiences, sophisticated security measures, and intuitive design. By increasing accessibility and customer involvement, these modifications support the goal of becoming a bank that is adored and trusted.
Cloud Migration and Scalable IT Infrastructure
In order to overcome capacity constraints and guarantee scalability to manage peak demands during busy times, the bank’s database will be moved from an on-premises data center to a cloud-based infrastructure. Additionally, cloud solutions offer improved speed, dependability, and disaster recovery capabilities—all of which are essential for preserving confidence. Furthermore, by incorporating data analytics features into the cloud architecture, real-time client pattern analysis will be possible, assisting the CEO in determining lucrative growth prospects and improving marketing tactics. This approach guarantees that the infrastructure satisfies present and future requirements while being consistent with the bank’s responsiveness and trust vision.
Question 2 (2 points)
How would a Data Warehouse system improve the manageability of the bank? (2 marks , 100 words)
By combining data from multiple systems into a single repository, a data warehouse technology makes the bank easier to administer and provides a consolidated perspective of operations. It supports improved decision-making by offering data that is conveniently available, consistent, and structured. Managers are able to create thorough reports, examine client behavior, and spot patterns in various services. This enhances strategic planning and operational efficiency, allowing for the reduction of unproductive regions and the targeting of profitable ones. The system also supports advanced analytics, lowers redundancy, and improves data quality and integrity, assisting the CEO and management in making data-driven decisions that are consistent with the bank’s customer-centricity and trust goal.
Question 3 (2 points)
Identify and explain at least one Business Intelligence data analysis techniques which could be used to support the CEO goals? (2 Marks , 100 Words)
Predictive analytics is a useful Business Intelligence data analysis method that can help the CEO achieve his objectives. This method forecasts future trends and consumer behavior using both historical and current data. The bank can forecast product demand, evaluate market potential, and spot shifting client usage habits by utilizing statistical models and machine learning algorithms. For example, by determining which client categories are more likely to use particular banking products, predictive analytics can assist in focusing marketing efforts. It can also identify the most lucrative areas for service reductions or expansion, bringing the bank’s plans into line with consumer demands and increasing profitability.
Question 04 (2 points)
Identify and briefly describe the IT maturity level of the organization (100 words)
Mall Bank seems to have a basic or LEVEL 1 of IT maturity. Accounting, CRM, and HR/payroll are among the bank’s main IT systems; nevertheless, they are out of date and not integrated, which results in inefficiencies and a lack of strategic insights. The database infrastructure and mobile banking app are inadequate to satisfy consumer demands or manage periods of high demand. Furthermore, the company lacks sophisticated data analytics tools necessary for well-informed decision-making. This reactive approach to IT highlights the need for modernization to meet the bank’s vision and objectives because it shows a focus on sustaining operations rather than strategically utilizing technology.