Information is a valuable asset vital to the success of every organization. The ability of an organization to remain competitive and attain set goals often relies heavily on effective management of its information system technology. The paper briefly discusses the following topics: the identification of an organization’s existing deficiencies and areas in information systems requiring urgent attention, assessment of current IT status and alignment with the bank’s strategic thrusts, proposed recommendations that will address the identified deficiencies in the critical areas of its lending operations and to direct innovation in processes and procedures involving application of information technology; and management’s role in the implementation of the strategic plan.
Information system is a foundation for conducting business. In all businesses, the survival and the ability to achieve strategic business goals is difficult without extensive use of information technology. The effects of globalization, advances in technology, industry competition and changing government laws and requirements make information systems critical to every organization.
An information system must be relevant enough for it to be useful in the organization. It must enable organizations to make effective decisions to attain organizational goals. Information systems must be dynamic and must be in pace with the demands of the organization necessary for improved delivery of services and cost efficiency. It must also be reliable, accurate, integrated and flexible.
1.Competent, well-trained and highly motivated human resource 2.Well defined and established redit policies
1.No adequate management information and reporting system that enables Management to detect and identify risks in the loan portfolio of the bank on a timely...