Explain the Application of MIS in Banking?

Application of MIS in Banking
A bank acts as a place, where the financial services are offered, which may include provision for the retail banking, investment banking, personnel banking etc.

The factors which the customers consider before choosing a particular bank can be summarized as follows –
a. The ease of doing the business.
b. The quality of the personnel and the service.
c. The range of the financial services.

The following points should necessarily be addressed during the designing of an MIS for a bank –
a. Customer database
The factors which greatly influence the service expectations and the perceptions can be summarized as follows –
i. Customer
ii. Operator
iii. Range of the service which is being or is to be provided
iv. Class of the customers
v. Working hours

b. Service to the account holders
The Management Information Systems must give the following reports to the management:

i. The non moving account.
ii. The account with the balance more than say Rs. 50,000/-
iii. The account going down below the minimum balance.
iv. The routine payments not made.
v. The routine credits not arrived.
vi. The defaults on loan repayment.
vii. The delays on crediting cheques amounts.
viii. A sudden rise and fall in the account movement.

c. Service for business promotions
The Management Information Systems should lay a great stress on the collection of the data from the various sources, in order to analyze and conclude the future business strategy.

With the help of such information, banker is able to move out to talk to the customer and as a result of this; he is also able to get some type of business for the bank.

So it can be said that it is very important to have an in depth knowledge about the trend in the business industry.