NIT2171 ICT Management: Strategic Plan for Mall Bank - Report

This report presents an ICT strategic plan for Mall Bank, a fictitious regional bank with 27,000 customers and 20 branches. The assignment requires an analysis of the bank's current situation, including its legacy systems, declining cash transactions, and increasing electronic transactions. The report outlines the bank's vision, mission, and objectives, and identifies drivers for change such as self-inquiry, remote banking, and electronic banking. The core of the report is the proposed ICT strategic plan for 2020-2025, including three key themes: technologies and human usability, technology in knowledge sharing, and ubiquitous learning. The plan aims to address the bank's need to adapt to changing customer behavior and technological advancements. The report also references relevant academic sources to support the proposed strategies.

ICT management

Background
 Mall Bank is a small sized regional bank which has around 27,000
customers
 This particular financial institute has around 20 branches where
various customers can approach for the purpose of creating
accounts or make any sort of transaction
 The financial institutes have numerous legacy systems which
hold historical transactions which can be maintained due to
various legal requirements for maintaining access to the data.

Organization vision
 To be the most preferred national bank of the country
 To combine consistent earnings, steady growth, firm control of
various risk factors for the purpose of providing safety to their
depositors. Their people would be the difference in the process of
establishing the consistency in enhanced stakeholder value and
earnings.
 To uncompromised dedication for understanding as well as
meeting their needs of the clients in the field of finance.

Organization mission
 To provide customers with immediate and direct access to their
decision makers of the bank and then deliver their best service
that is personalized in this particular industry (Ali and Khan
2015).
 To commit people as well as resources for enriching the
communities where they live as well as work. This is due to the
fact that trust is their most vital component, they are focused on
creating as well as sustaining long term relationships with their
customers, their employee, their stakeholders and their
community. They revolve around their customers in every
transaction carried out by them.

Organization objective
 The organization aims in practicing prudent business planning as
well as strategies for cost management for ensuring financial
viability as well as responsible growth
 Their main objective is to establish a certain relationship of trust
as well as respect with their clients along with value integrity as a
particular organisation
 They have been committed in providing the best services to their
clients, they would go above as well as beyond what has been
required for attracting as well as retaining cherished business
relationships.as well as an individual.

Drivers for change
 Self-inquiry facility
 Remote banking
 Anytime banking and anywhere banking
 Electronic banking
 Tele banking

Drivers for change
 Availability of huge range of inquiring facilities that assist the
bank in the development of their business as well as follow up.
 Quick replies to various queries made by customers without any
reference to the keeper of ledger, because terminals have been
given to chief managers as well as managers (Nanda 2016).
 Automatic as well as proper carrying out of various standing
instructions on the due as well as generation of the required
reports.

Roadmap and ICT initiatives

Three ICT strategies themes
and relevant ICT capabilities
 Technologies and human usability
 Technology in knowledge sharing
 Third theme is ubiquitous learning

References
 Ali, S.S. and Khan, M.N.A., 2015. ICT infrastructure framework for
microfinance institutions and banks in Pakistan: An optimized
approach. In Banking, finance, and accounting: Concepts,
methodologies, tools, and applications (pp. 532-543). IGI Global.
 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.