a) Over the past decade, banks and investment firms have offered many services t
ID: 3752224 • Letter: A
Question
a) Over the past decade, banks and investment firms have offered many services that would be impossible without Information Systems (ISs). Use your current / former work place, if applicable, or a researched example of one such firm, to describe two (2) services and explain how Information Technology makes them possible. b) Can you argue whether one (1) of the services identified in (a) above was a Strategic use of an Information System to give the firm an unfair advantage over another firm that probably was unable to afford? Is this good or bad for customers? Explain your opinion.
Explanation / Answer
Q1) describe two (2) services and explain how Information Technology makes them possible:-
2. Quick Search on Customer Account to track all Transactions done - The IT services can be used by a senior executive of a Bank to track all legal/illegal transactions done via Bank Customers from a given registered Bank account and can take actions immediately.
b) Can you argue whether one (1) of the services identified in (a) above was a Strategic use of an Information System to give the firm an unfair advantage over another firm that probably was unable to afford?
Yes the first service, is a good Strategic use of IT system to gain insights over another competitive bank by providing the customers a comparison of different schemes and interest rates for various account holdings to justify to their customers why they should consider investing in their bank and not in others. This way they can strategise their move to attract more customers by showcasting offers and higher interest rates. Also they may declare additional facilities that other banks may not provide as of now such as eBanking Services, eTransfers, ePay, etc.
c) Is this good or bad for customers? Explain your opinion
I would say its Good For the Customers because:-
Please let me know in case of any clarifications required. Thanks!
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