Information Technology Management

In: Computers and Technology

Submitted By Gracekay
Words 1919
Pages 8

Since the growth of information technology there has been a change in the banking industry from branch banks and paper to net working and digitized banking services. The ways of communicating information and knowledge through computers has truly changed the way we think, work and live.

A good example is through Information Systems, which can be defined as any method of communication knowledge from one person to another and/or from one source to another. It works by providing the best possible information to its users while also taking into account that different users with their own specific tasks may need their information presented in different ways. Improving the ways users retrieve, identify and respond to information. In contrast to a data system, that simply provides raw data to the user.

Competitive advantage in the digital economy is even more important now than ever before, as for some businesses the impact of the digital economy is groundbreaking. The fast changing technologies, markets and the appearance of new business models have introduced major changes in industry structure shifting the nature of competition while keeping the core business

but not the core business of most firms

, not changing the, instead information systems simply offer tools that can increase the company’s success through the traditional sources of competitive advantages - be it reduced expenses, enhanced customer service, or superior management skills.

This report studies in particular how information systems have contributed to the banking industry. Illustrating the ways it can improve a business firm’s competitive position and also points out its drawbacks and why it may not be able to be sustained in the future.

Competitive advantages of Information Systems for Banks

Information systems are now fundamentally changing the way banks…...

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