IT Application in Retail Banks

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IT APPLICATION IN
RETAIL BANKS
By
Allen Thomas
Anubha Patnaik
Pooja Ganatra
(PGDM05-A)

FUNCTIONAL ARCHITECTURE OF A RETAIL BANK

DEPARTMENTS OF RETAIL BANK
Retail Banking Service Delivery: This includes handling customer requests such as opening, closing, maintaining of customer accounts, insurance services etc. The task is carried out by a TPS(Transaction Processing System) application.

Retail banking operations and support: This includes accounts transaction processing, investments operation processes, insurance operation processes. This is categorized under TPS as processing of account information and investment information.

Credit Management: This includes credit acquisition, credit policy, and credit strategy development. Credit application processing and policy processes are done through TPS. Credit strategy development is done through DSS(Decision Support System).

Technology management: It consists of information security, Technology infrastructure and Technology implementation. This is categorized under MIS since daily operations of intelligence system is monitored

DEPARTMENTS OF RETAIL BANK
Compliance and Risk Management: It consists of compliance control, risk control, business continuity planning, Audit and Financial control of the bank. This comes under the MIS as it involves monitoring of risks and analysing business impact takes place.

Product development and Brand marketing: Includes Market research, Product Design, Product launching and promotion and brand marketing. This comes under DSS as Decisions are taken as to on the Designing and launching of products

Quality Management: Customer Experience Management and continuous improvement. This comes under MIS since monitoring is involved in customer experience and continuous standards definition

Sales and relationship: Sales strategy and Implementation, Customer relation management. This comes under DIS and MIS since strategy is formulated using the sales data and customers are managed accordingly.

DEPARTMENTS OF RETAIL BANK

Strategic Business Development and General Management: This involves financial management and formulating overall business strategies for the retail bank. This comes under MIS since financial management is done and as well ESS since strategies are formulated in an overall manner.

Human resources: This involves Human capital management. This comes under MIS as well as DSS since recruitment strategies are also undertaken.

CLASSIFICATION OF THE FUNCTIONS
TPS

MIS

• Service handling

• Sales Management

• Data Access

• Customer Centric
Features
• Support Function

• Reporting Services

DSS
• Target marketing

ESS
• Business Logic

BUSINESS APPLICATION BY STAKEHOLDERS
SUPPLIERS

ENTERPTRISE RESOURCE,
PLANNING INTERNL BUSINESS
PROCESSES
CRM,MOBILE AND INTERNET
BANKING,CREDIT
MANAGEMENT,ACCOUNT
DETAILS

CUSTOMERS

PARTNERS

PROFILE
ALLOCATION,RECRUITMENT,DAT
A ANALLYTICS,RISK
MANAGEMENT

EMPLOYEES

LOAN MANAGEMENT,CLOUD
COMPUTING,AUTHENTICATION
SOFTWARE,FINANCIAL
SOFTWARE

APPLICATIONS CURRENTLY USED IN BANKS
FinEdge Banking CRM solution developed by HCL Technologies provides robust and flexible features so that banks can address all the requirements from a customer and streamline sales, marketing and customer service activities. HCL’s FinEdge banking CRM is a comprehensive solution to help banks deliver a superior customer experience. Following are the functions addressed by FinEdge:

Target: It provides a platform for personalized campaigns, interactive gesture sensing to draw customer attention and effective lead generation.
Acquire: It helps to achieve lower customer acquisition cost, higher acquisition rate, increase coverage and opportunity management.

Transact: It provides product and service selection, fulfilment, product and service delivery, billing and payment.
Service: It provides personalized service, higher SLA adherence,...
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