Role of IT/MIS in banking business | Application of IT/MIS in the context of Nepali Banks

What is the role of IT/MIS in banking business? What is the application of IT/MIS in the context of Nepali banks? Explain
Information technology has been playing significant role in the growing banking business globally as well as locally. Information technology enhances efficiency in the technology and intern efficiency in the business.

Information technology enables:
  • Sophisticated banking product development
  • Better market infrastructure
  • Implementation of new techniques in order to control risk
  • Increase in market share
  • Help the bank to reach in geographically distant and diversified places.
  • Enhance the good and sound relationship between bank and its customer.

Management information system (MIS)
Management information system is the system designed to provide information to the managers, hence it’s a mechanism to provide necessary to provide necessary information to the management.
  • MIS supports the management to run the banking function.
  • MIS provides the feedback, which helps to take decision.
  • Each and everyone can get information from single mechanism.
  • Continuous  flow of information.
  • Each and every one can know the actual data and information and status of the organization from MIS.

Application of IT/MIS in the context of Nepali banks:
  • Newton and Pumori
  • Separate software can be used to some treasury/trade finance.
  • Offline data backup and disaster recovery system
  • Linking with assets management/inventory management
  • Online banking
  • Fast customer service
  • E-banking
  • ATM card and reconciliation
  • Central bank reporting
  • Monthly/weekly/daily and other reporting.
  • Hr payroll
  • Based on queries

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