Download PDF by Sean C. Keenan: Financial Institution Advantage and the Optimization of

By Sean C. Keenan

ISBN-10: 1119044170

ISBN-13: 9781119044178

ISBN-10: 1119053048

ISBN-13: 9781119053040

ISBN-10: 1119053226

ISBN-13: 9781119053224

ISBN-10: 1119053307

ISBN-13: 9781119053309

This publication bargains a key source for realizing and enforcing powerful info governance practices and information modeling inside of monetary companies. Keenan outlines the thoughts and instruments wanted for monetary associations to take cost and make the much-needed judgements to make sure that their firm's info processing resources are successfully designed, deployed, and applied to fulfill the stern regulatory Read more...

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deals a key source for figuring out and imposing potent facts governance practices and knowledge modeling inside monetary agencies. This ebook outlines the strategic abilities, includes Read more...

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Extra info for Financial Institution Advantage and the Optimization of Information Processing

Example text

And regulators’ concerns aside, the firms themselves should be very sensitive to these same issues. For any large information processing project for which a significant amount of planning, design specification, vendor selection, implementation, tuning or FINANCIAL INSTITUTIONS AS INFORMATION PROCESSORS 13 validation is outsourced, the ability of the firm to maximize the value of the resulting system will be compromised. If we adhere to the view that a firm’s competitive advantage will derive largely from the relative effectiveness of the management of the broad range of information assets, then the outsourcing of the vision itself to a software vendor who is marketing that same vision to other institutions amounts to nothing less than a decision to make the firm less competitive.

The industry has a long history of coming to market as a service, providing outsourced solutions for payroll, accounts receivable, and accounts payable management, and for smaller firms, general ledger and tax accounting services. In the early days, banks would store data on internal mainframe systems, pump out raw data to the data processor, and receive processed data in return. The data processors’ possession of large mainframe computers with excess capacity (as well as programming expertise) established their niche.

As such, their need for collecting and processing data, other than for the most basic reporting requirements, or for higher level analytics, or statistical modeling, is minimal to nonexistent. As we discuss further in Chapter 3, the identification of activities that can be characterized as price taking is in fact evidence of a lack of competitiveness, which is likely the result of the firm’s failure to develop an integrated and efficient information management framework and culture. NOTES 1. Hubert P.

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Financial Institution Advantage and the Optimization of Information Processing by Sean C. Keenan


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