This document discusses the implementation of ICT strategic plan in a regional bank and its impact on customer relationship management. It covers the organization's vision, mission, objectives, and drivers for change. It also provides a roadmap and ICT initiatives, as well as three ICT strategic themes and relevant capabilities.
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Running head:ICT MANAGEMENT ICT MANAGEMENT Name of the Student Name of the University Author’s Note:
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1 ICT MANAGEMENT Background Mall bank is a small and a regional bank, it consists of around twenty seven thousand customers. Mall bank provides a huge range of banking services as well as products like home loans, savings accounts and insurance products (Abbasi, Tabatabaei and Labbaf 2016). This institute of finance has almost 20 branches where numerous customers are allowed to approach for creating numerous accounts, carry out any transactions and many more financial activities. Its call centre is supposed to handle numerous customer complaints along with various general questions related to accounts, they only operate from 7 pm to 9 pm and only on weekdays. Since the span of five years the institute had undergone a huge amount of reduction in the overall number of transactions that are based on cash and are done through ATMs (Chang and Tsai 2016). It is hard for the institute for maintain due to the less number of staffs who have sufficient skills in this specific field. The institute has planned to initiate in implementing ICT strategic plan in their operations for change their operations of the entire business carried out by them. Organization vision The vision of the Mall bank includes various points, these are as follows 1.To be one of the mostly preferred banks within the country 2.To become a locally owned bank along with being the community bank which would be a prior choice for small as well as medium sized businesses, professionals as well as individuals. 3.To not compromise their dedications for the purpose of understanding along with meeting the requirements of the clients in the aspect of finance.
2 ICT MANAGEMENT 4.To recognize the effort that is put in by the members and to reward them in order to appreciatethemandencouragethem.Tobelievethatqualified,loyalandthe professionals that are honest are valued the most. 5.To combine numerous aspects such as steady growth, consistent earnings, firm control of numerous factors of risk for providing security to numerous depositors (Zambrano, Young and Verhulst 2018). People would create a difference in the process of establishing the actual consistency to the stakeholder earning and value. Organization mission To commit the customers along with various resources on the fact that they enrich various communities where they are supposed to live as well as where they work. This is due to the fact that trust is the most important component, they have been focused on the strategy ofbuildingalongwithsustaininggenerationalrelationwithcustomers,employees, stakeholders, as well as the community, which are considered as long term (Akinola and Odesola 2018). They aim in revolving around their loyal customers in any transaction that is carried out by them or by customers. Organization objective The major aim of the organization is to embrace numerous changes, besides seeking strategies that could be used for the purpose of providing good quality of services. These services are aims in making cost effective which not only meets but also exceeds the expectations of the customers (Awuondo 2015). One more objective of the bank is to establish a specific sort of relationship of trust along with respect with these clients and value the integrity in the form of a specific organization and also as an individual. They have committed in giving the best of services to the customers, for this they would go beyond what is necessary for retaining and attracting business relations.
3 ICT MANAGEMENT Drivers for change For implementing ICT in the bank, it requires to bring about various changes within the bank, some of these changes include in the area of infrastructure, data management, mobile device management, governance, customer relationship management and risk or privacy and security of data (Ali and Khan 2015). The changes that should be carried out are as follows Facility of self-enquiry: this facility would provide the users with an advantage of logging in numerous terminals that are self-enquired as well as specified in every branch for viewing and inquiring the transactions that has been carried out through the account of the users (Kamau, Namiinda and Buluma 2016). Remote banking for customer relationship management: customer relationship would be brought about if they are provided with comfortable and easily used activities (Nanda 2016). Various remote terminals at the site of the customer which are connected to their own branches with the usage of a modem, this helps various customers to carry out numerous enquiries that are related to the individual’s account through online, the user does not need to move from their position (Kaufhold, Riebe and Reuter 2018). This contributes most of the part to the management of customer relationship. Anytime and anywhere banking: anytime as well as anywhere banking helps the bank in putting a step further in the process of customer relationship management. Installing ATMs whichwouldallowthecustomerto availnonstopcash withdrawal,enquiryfacilities including remittances (Ramadan, Dahiyat and Bontis 2017). Networking numerous branches of the bank which would function in a computerized manner and intercity along with intra city will permit the customers under numerous branches when they stay interconnected with each other for transaction from any of the existing branches.
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4 ICT MANAGEMENT Electronic banking: electronic banking would allow the banks for providing corporate services and hence customers would have a specific high value with a particular software of the graphical user interface on any sort of machine for the purpose of inquiring about their accounts and many more financial transactions, inquiry on numerous rates, cash transfers without the need of visiting the bank (Sellitto, Banks and Bingley 2016). Along with this, the LC text and details on various bills might be sent by various customers along with the bank downloading it. The technology that is utilized for providing these services is known as interchange of electronic data. This is used for transmitting business transaction in a format that is readable by computers, these data are received from various organizations and individuals in a specific format that is also standard in nature (Bazini and Madani 2015). The serviceorelectronicbankingwouldhelpthebankincontributingmaintainingdata management. Tele banking: this service of tele banking would help the bank in providing with customer with the service of twenty four hours banking, using this service, the individuals can inquire regarding the balance in their accounts along with the transaction carried out by them, this can be done by them with the help of their phone (Dženopoljac, Janoševic and Bontis 2016). This contributes in the management of mobile devices. Governance could be improved with the help of undertaking numerous steps, these stepsarerecruitingcommittedandengagedgroupofvariousgovernors,theproper composition of individuals, maintenance of accountability as well as transparency in the overall process of carrying out decisions, noting down the performance metrics and many more steps. Availability of a huge range of facilities for the purpose of inquiring which would assist the bank on the processof development along with following up the business
5 ICT MANAGEMENT (Mehraban, Haghparast and Bahmaei 2015). Fast replies to numerous queries raised by various customers instead of any sort of reference to keeper of the ledger, this is because the terminals are provided to the chief managers along with managers. Data management is carried out by securing the data with the use of numerous technologies. There is a specific pattern that is used for the purpose of interconnecting computerized branches as well as numerous controlling offices. Roadmap and ICT initiatives Figure 1: Roadmap and ICT initiatives The roadmap would be started on 6thJune, 2019 at 10: 00 a.m. and would be completed on 17thAugust, 2019 6: 00 p.m.This roadmap for ICT initiatives is divided into various steps, these steps has numerous sub steps. The initial step is to identify the drivers of
6 ICT MANAGEMENT the business. The second step includes creating a specific IT vision, this vision would provide the employees as well as the entire organization regarding their aim of implementing ICT. The third step comprises of numerous steps including assess IT investment alignment, assess IT asset alignment and assess IT organizational alignment. The fourth steps comprises of sub stepswhichincludeidentificationofinvestmentgaps,identifyITassetgapsand identificationofITorganizationalgaps.ThefifthstepscomprisesofprioritizingIT initiatives, the sixth step is to evaluate the implementation options and the last step is to create the plan for migration, this plan would include various ways and strategies that would be used by the organization for the purpose of implementing ICT into ther business operations. Three ICT strategies themes and relevant ICT capabilities (para) The three ICT strategic themes and their related capabilities are mentioned below. Theme 1: technology in the process of knowledge sharing is considered as the first theme. Numerouscapabilitiesthatfallunderthisspecificsub categoryiscommunicationof numerous practices and communication for knowledge creating, communication that is virtual in nature, technology that is used in the overall process of developing capacity, e- democracy, e-government along with cyber civics (Abbasi, Tabatabaei and Labbaf 2016). Some of the capabilities that could also be included are technical and social system of the sustainability, communities who exist in the form of publishers, communities in the form of networks, cyber laws as well as cyber ethics, cyber identities, publishing of multi channels, socialtransformationmeetsthetechnology,technicalaswellassocialsystemsof sustainability. Theme 2: the second theme includes ubiquitous learning, some of the capabilities of this particular theme is learning with the use of design, perception, edutainment, cognition and
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7 ICT MANAGEMENT interactivity, multiline races as well as communications, digital meaning, informal along with informal type of learning, learning organization along with organizational learning, both of these actors are important for an employee to undergo. Besides this lifelong learning and life wide learning both are important in the context. Theme 3: technology as well as human usability is considered as the third theme, on the uses of technologyby humansandhumanusesalongwithvarioussocialimpactsof the technology. The capabilities of ICT that are related to this concept is interaction between humans and technology, interfaces as well as usability, society along with knowledge of technologyforre-examiningvariousinterconnections.Newmediaalongwithnew communicationchannelsforthepurposeofbroadcasting,pointcastingaswellas narrowcasting, proprietary software along with influences of human. Various capabilities are structure, along with semantics in data, numerous mark-up languages, and new practices in mark-up as well as new literacies (Chang and Tsai 2016). This also provides interfaces along humans as well as machines, intelligent agents that would have the ability to provide good suggestions on numerous critical situations and intelligent systems.
8 ICT MANAGEMENT References Abbasi, M., Tabatabaei, S.A.N. and Labbaf, H., 2016. Identify future changes of ICT in human resources management: a delphi study.Human Resource Management,3(1), pp.36- 44. Akinola, G.O. and Odesola, O.T., 2018. Information and Communications Technology and InventoryManagementamongstBreweriesinNigeria.Journalof InformationSystems Engineering and Business Intelligence,4(1), pp.39-45. Ali, S.S. and Khan, M.N.A., 2015. ICT infrastructure framework for microfinance institutions and banksin Pakistan:An optimizedapproach. InBanking,finance,and accounting: Concepts, methodologies, tools, and applications(pp. 532-543). IGI Global. Awuondo, I., 2015. Commercial applications of ICT in the banking sector. Bazini, E. and Madani, F., 2015. ICT Application in the Insurance Industry: Its Impact in Customer Relationship Management.Academic Journal of Interdisciplinary Studies,4(3 S1), p.307. Chang, S.C. and Tsai, P.H., 2016. A hybrid financial performance evaluation model for wealth management banks following the global financial crisis.Technological and Economic Development of Economy,22(1), pp.21-46. Dženopoljac, V., Janoševic, S. and Bontis, N., 2016. Intellectual capital and financial performance in the Serbian ICT industry.Journal of Intellectual Capital,17(2), pp.373-396. Kamau, M.K., Namiinda, B. and Buluma, F., 2016. Effects of system integrity in credit information sharing on management of credit risk in commercial banks in Nakuru town, Kenya.IOSR Journal of Business and Management,18(2), pp.52-57.
9 ICT MANAGEMENT Kaufhold, M.A., Riebe, T., Reuter, C., Hester, J., Jeske, D., Knüver, L. and Richert, V., 2018. Business Continuity Management in Micro Enterprises: Perception, Strategies, and Use of ICT.International Journal of Information Systems for Crisis Response and Management (IJISCRAM),10(1), pp.1-19. Mehraban, A., Haghparast, A.A. and Bahmaei, R., 2015. Managerial and Security-Financial Factors of Private Banks Success in providing e-Banking Services.International Journal of Academic Research in Business and Social Sciences,5(9), pp.168-178. Nanda, S., 2016. The Role of Knowledge Management in Indian Banking Sector.IMPACT: International Journal of Research in Business Management (IMPACT: IJRBM),4(7), pp.37- 44. Ramadan, B.M., Dahiyat, S.E., Bontis, N. and Al-Dalahmeh, M.A., 2017. Intellectual capital, knowledge management and social capital within the ICT sector in Jordan.Journal of Intellectual Capital,18(2), pp.437-462. Sellitto, C., Banks, D., Bingley, S. and Burgess, S., 2016.Small Businesses and Effective ICT: Stories and Practical Insights. Routledge. Zambrano, R., Young, A. and Verhulst, S., 2018. Connecting Refugees to Aid through Blockchain-Enabled ID Management: World Food Programme’s Building Blocks.