i) Define the term Management Information system :
These are information systems at the management level of an organization that serve the
functions of planning, controlling and decision making by providing routine summary and
exception reports.
ii) Advantages of Management information systems to the banking sector
- Convenience: Online banking sites never close; they're available 24 hours a day, seven
days a week, and they're only a mouse click away.' m
- Ubiquity: If you're out of state or even out of the country when a money problem arises,
you can log on instantly to your online bank and take care of business.
- Transaction speed: Online bank sites generally execute and confirm transactions at or
quicker speed.
- Efficiency: You can access and manage all of your bank accounts, even securities, from
one secure site.
- Effectiveness: Many online banking sites now offer sophisticated tools, including
account aggregation, stock quotes, rate alerts and portfolio managing programs to help
you manage all of your assets more effectively. Most are also compatible with money
managing programs such as Quicken and Microsoft Money.
Kavungya answered the question on May 14, 2019 at 07:36
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