My dream career has always been banking. From a tender age, I have always aspired to build a career in the financial sector. As an accounting enthusiast, the banking sector is a career path that befits my passion. Working with numbers gives me a sense of purpose and satisfaction hence it is my wish that in future I get an opportunity to work with figures. Banking is a unique sector to work in since it not only provides a chance to help people grow financially but also manage their financial assets for them (Arduin, et al. 65). Information systems are radically transforming the lives of every person and rapidly gaining a stage in almost all sectors including banking. The 21st century commonly referred to as the information age is founded on modern information systems in computing, communication and data storage (Meregalli 17).
The banking sector has integrated information systems in its day to day activities to enhance service delivery to clients. In fact, information is transforming the system into a paperless system where all transactions are shifting from the traditional paper-based to electronic based. The fact that digitalization of the banking sector explains why information system is critical to the sector. The internal accounting systems are now digital, and hence information systems is a key element of the sector now. It is clear that technological advancement is offering concrete solutions to operation needs of banks in an environment of technological innovation. Information systems are revolutionizing the banking sector and plays a central role in the transformation. Financial analyst agrees that a banks flexibility integrate IT systems translate to how competitive they become.
Information systems have three fundamental concepts that collectively operate together to ensure that it is operational. They are Data, Software, and hardware. Data concept is all the facts of clients or transactions used by programs in the hardware to produce useful information that assists the bank to make its decisions. For example, the bank's interest rate, customer savings or transactions are types of data found in a bank. The data forms the record base of the bank Software on the hand is computer programs in a banking system. SPPS is an example of bank software used to generate figures and financial calculations of customers. Hardware is machinery or equipment that information system used to store information and run programs. Computer, tablets and other accessories are perfect examples hardware in information systems. Collectively the three concepts constitute the key elements of information systems in any bank or organization. They are electronic in nature and significantly ensure that operations run smoothly in a bank.
According to the Wall Street Journal technology is rapidly transforming the speed of service delivery of banks. Using innovative technology banks are now able to test new ideas with speed that previously seemed impossible (Brynjolfsson and Schrage). Customers can now subscribe to new financial products at the comfort of their homes without having to appear in the banks physically. Also, technology is radically transforming the future of investment banking with clients able to make investment decisions electronically (Carney). The invention is the future of investment where customers can initiate investment processes electronically.
After graduating, I will confidently pursue a career in banking and with the additional skills gained in the information systems course I will be able to comfortably work in the sector without additional training in information systems management. I will be able to start at a more competitive position. In conclusion, I have no doubt that I am well prepared today better in my pursuit of the banking career than before I had information systems skills.
Arduin, Pierre-Emmanuel, et al. "The Enterprise's Information and Knowledge System (EIKS)." Information and Knowledge System, 2015, pp. 45-63.
Carney, John. "Radical Changes Are on the Way for Investment Banks." WSJ, WSJ, 2 June 2016, www.wsj.com/articles/radical-changes-are-on-the-way-for-investment-banks-1464904490. Accessed 15 Mar. 2017.
Brynjolfsson, Erik, And Michael Schrage. "How Technology Is Changing the Face of Innovation." WSJ, WSJ, 17 Aug. 2009, www.wsj.com/articles/SB10001424052970204830304574130820184260340. Accessed 15 Mar. 2017.
Meregalli, Severino. "Information Systems." Strategy and Organization of Corporate Banking, 2005, pp. 155-166.
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