Core Banking Systems and Business Intelligence for Effective Strategic Decision Making

Abstract

Considering about the nature of existing core banking systems the fundamental attribute is it can be identify as a transaction processing system. It means that the system is processing day-to-day banking business transactions and stored historical information. Core banking systems are playing vital role in any fully automated bank as an information system hub. But the basic question is raised when focus to the information requirement for strategic decision making process. Are core banking systems providing required information to make effective strategic decisions? Can core banking systems fulfilling the task as an alternative for the business intelligence system? When focus to the identified problems with core banking systems it can be separated in to two categories such as system operational issues and strategic decision making difficulties due to using core banking historical system information. System integration issues due to different database platforms, data processing issues due to using different front end applications, data mining and quarry limitation can be identified as System Operational Issues and above two questions can be review under the strategy issue. Review of literature and case study approach has been applied as a methodology with qualitative analysis. Conclusions and recommendations are based on the analysis.