Information Systems Report: Social Media in Malaysian Financial Sector

This report provides an analysis of the management information systems (MIS) employed by RHB Asset Management, PMB Investment Berhad, and Kenangan Investors Bhd, focusing on their use of social media and collaboration technologies. The report explores how these financial institutions leverage platforms like Facebook, Twitter, and their own websites to enhance their business strategies, attract customers, and provide financial services. It examines the effectiveness of these tools, including mobile applications and online platforms, in knowledge sharing, customer service, and decision-making. Furthermore, the report identifies and compares the weaknesses faced by each company, such as issues with data security, branding, and customer satisfaction, and discusses their impact on company performance. The conclusion summarizes the findings and emphasizes the necessity of effective web interface strategies and online payment facilities, offering recommendations for improvement across the three companies.

Managing Information
System

Table of Contents
INTRODUCTION...........................................................................................................................1
1.1 Use of social media and collaboration technologies.............................................................1
1.2 Findings for weakness comparison.......................................................................................2
CONCLUSION................................................................................................................................3
RECOMMENDATION...................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Management information system is the process of managing data with the help of
computers and other smart devices in the companies. It defines the relationship between
technology, people and the firms. It is used for identifying the connection of the businesses with
computer science, technologies and information systems (Galliers and Leidner, 2014). RHB
Asset Management is financial group in Malaysia. It provides various financial services to the
customers. The report is about existing social media in RHB Asset Management, PMB
Investment Berhad and Kenangan Investors Bhd. Further, the integration of social media in the
business of three companies are discussed. Moreover, effectiveness of social collaboration tools
and technologies on the business of these organisations are studied.
1.1 Use of social media and collaboration technologies
The social media and collaboration technologies are very important to increase the
publicity and popularity of the business. Social media includes social websites like Facebook,
Twitter, Pinterest, LinkedIn etc. The collaboration tools are the key for RHB Asset Management
organisation in order to increase their business strategy. The technology background is changing
day by day and hence employees and customers demands are changed to digital technologies.
RHB Asset Management is the world leading bank in Malaysia. Open technology area is
giving more chance to the hackers to access their data. So it is necessary for them to adopt
collaboration technologies (Mousseau and Gilhuly, 2014). This organisation has focus on
developing the software, mobile application so that customers can easily get all the information
about the policies and future plans of the company. The organisation has made their website so
that, customers will get information about their financial services and plans. Further, it has make
use of other websites for advertising their bank and adding more number of customers with them.
RHB Asset Management has used collaborative technologies to ensure quality learning by
organising different sessions of knowledge transfer so that they can determine the understanding
of the clients in technology and project management (Leonardi, Huysman and Steinfield, 2013).
PMB Investment Berhad is the largest fund management organisation in Malaysia. It
operates on the unit trust schemes and provides knowledge about funds related plans. It has make
use of social media to promote their business (Mulhern and et.al., 2016). Further, it has created
many digital ecosystem which helps them to connect with other customers. It is creating
economy platform to collaborate with its digital partners which helps the company to offer
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different services according to the preference of their customers. It will help in increasing their
trust and confidence towards the company's policies.It is focusing on designing mobile apps so
that they can help their customers to access with account information, loans interest rates etc.
Social network platform which supports collaboration helps to improve knowledge sharing,
decision-making and customer service. The main aim of collaborate technologies is to get
desired results from the customers and increase the investments.
Kenangan Investors Bhd is financial services organisation which looks after investment
management, stockbroking services (Gatlin and Williams, 2015). It is the largest bank in terms
of equity trading and it has secured third position among Malaysia stockbrokers. It has provided
various services like loans, pension plans, child care plans etc. for saving the money of all
people. For this, it has taken help of collaboration tools like it has make use of twitter, Facebook
and its own website to attract more people towards their policies. They have made their website
so easy that everyone can easily understand it and make use of it (Norman and et.al., 2015).
Further, it has attracted the customers by offering their loans and other policies with low interest
rates. They have also made different department which deals with technological system so that
they can take feedbacks about their policies and plans and implement new strategies related to
them.
1.2 Findings for weakness comparison
The problems faced by RHB Asset Management is that it has faced impaired reputation
because the services provided by the social medial and collaboration tools fails during server
problems which results in loss of important data related to the customers account and finance
information. Further, the information provided by the websites of social media is wrong and does
not clear the terms and conditions properly (Xu and Quaddus, 2013). PMB Investment Berhad is
facing the brand building problem as customers only want to purchase the product that they
come to believe and trust which decreases the investment performance. Further, PMB investment
Berhad has fulfilled the demands of different clients which has created problem for branding the
plan which is relevant to all levels of people. All this lead to less and delayed profits as they have
to face many problems from their investor companies.
Kenangan Investors Bhd has faced the problem of low popularity of their new financial
plans of due to branding intermission. This has delayed the profitability of the company as most
of the clients of this organisation are dissatisfied with their policies which offer loans at high
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interest rates (Friedman and Friedman, 2013). Further, delayed profitability has impacted the
performance of the company to make progress and fulfil the demands of their customers.
CONCLUSION
Summarizing this report, it can be concluded that, information management system is
very necessary for well functioning of the organisation. The report has discussed different
methods of social media and collaborative technologies used by RHB Asset Management, PMB
Investment Berhad and Kenangan Investors Bhd. They have made their websites and mobile app
to give more information about their plans. Further, effectiveness of these techniques are
explained. Moreover, the findings for weakness comparison are analysed. The weak areas and
their impact on the companies performance are discussed. This will help the organisation to
improve its performance.
RECOMMENDATION
It is recommended that all the three companies have to made effective web interface
strategies for their customers so that they can easily get information of their policies and plans.
Further, easy online and net banking facilities must be available so that clients must be motivated
to make online payment for their premium policies.
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REFERENCES
Books and Journals
Friedman, L. W. and Friedman, H. H., 2013. Using social media technologies to enhance online
learning. Journal of Educators Online. 10(1). p.n1.
Galliers, R. D. and Leidner, D. E. eds., 2014. Strategic information management: challenges and
strategies in managing information systems. Routledge.
Gatlin, D. and Williams, L., 2015. Digital Connections, Inc., System and method for managing
information technology infrastructure. U.S. Patent 8,966,041.
Leonardi, P. M., Huysman, M. and Steinfield, C., 2013. Enterprise social media: Definition,
history, and prospects for the study of social technologies in organizations. Journal of
Computer‐Mediated Communication. 19(1). pp.1-19.
Mousseau, G. P. and Gilhuly, B. J., 2014. Blackberry Limited, System and method of managing
information distribution to mobile stations. U.S. Patent 8,694,650.
Mulhern, R.K. and et.al., 2016. System and method for managing and updating information
relating to economic entities. U.S. Patent 9,305,300.
Norman, H., and et.al., 2015. Exploring the roles of social participation in mobile social media
learning: A social network analysis. The International Review of Research in Open and
Distributed Learning. 16(4).
Razmerita, L., Kirchner, K. and Nabeth, T., 2014. Social media in organizations: leveraging
personal and collective knowledge processes. Journal of Organizational Computing and
Electronic Commerce. 24(1). pp.74-93.
Xu, J. and Quaddus, M., 2013. Managing information systems: Ten essential topics. Springer
Science & Business Media.
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