What are the core business processes

  1. What are the core business processes[1]
Core Bank of America Business Process:Activities within  the Core Process
people managementRecruiting performance management staff development payroll benefits administration
financial managementgeneral ledger accounts payable accounts receivable reporting and compliance cash management asset management
Customer relation managementcustomer servicesmarketingcustomer trackingchecking on the potential customersresearching on the essential technological supportcustomer acquisition through sales
Sales force and marketing managementMarketing strategiesMarketing planning processMeasurement and analysis from the fieldReport collection from the marketing and sales teams in the departmentFeedback collection from the customers to improve on the products to satisfy clients’ needsPromotion and advertisement servicesAfter sales services to the customer
Supply chain managementCustomer services to the clientsProduct developmentMeasurement of performanceThe vendor management system
Product design and developmentFeedback collection from the clientsProcess improvementEngagement with other business partners to develop a productEngagement with customers owners and market activators to achieve a product designReview of platform and product strategies
Manufacture managementProduction of bills Recycling and changing of destroyed ATMsProduction of ATMs for the clientsChecking the quality of the machines and other systems valuable for the operations of business.
  1. List the sequential, descriptive steps required in a typical ATM…
Steps by CustomerSteps by ATM SystemSteps by other Banking Systems
Insert or place the cardDetecting and recognizing the card informationDetecting and recognizing the card information
Enter the pin numbers or codesAuthorization of the user’s identityAuthorization of the User’s ID
Checking on the balanceDisplay of the necessary information of the screen for the user to seeTake the record of time, place and then print the information for the customer
Withdrawal of fundsProvide a platform for withdrawal process to take place. Updating the new balance of the account systems upon given of the fundsRecording of time and information of the customer, Release the money to the customer, then print the transaction of the process.
Saving fundsDetect and receive the money, Display the amount of money and then update the new balance on the user’s accountRecord the location and time of transaction, Receive the money information from the client and then print out the receipts
  1. Why do the core processes at the Bank of America require centralized information systems?
  1. .For the purpose of financial management; the information from the central provides significant information that can assist the advisors in the analysis to provide valuable investment to customers.
  2. .Data integrity; assists the bank of America obtain a primary record per one of the customers for facilitation of any change information from the customers.
  3. .The centralized information systems is very easy to use and hence the bank is able to train other staff to understand the system.
  4. .The centralized information system is very fast and effective for use in the bank. It is able to update the bank on the information of the client.
  5. The centralized information system is flexible for the bank of America.
  6. What information is generated as part of ATM..

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Transactional Uses of Information
information type:information use:
The card numberFind out the information on the account for the customer
The pin digits or codesRecognition of the user’s id
The summary informationShow or display the information to the client
The amount of funds receivedUpdate the information to the customer’s account
Payment transaction processProvide security for the account
The deposit and withdrawalTrace the activity of the account
Management and Control Uses of Information
information type:information use:
The transaction timeAnalyzing the conduct of the client
The transaction locationAnalyzing the conduct of the client
The spread of each of the actions or activitiesAnalyzing the conduct of the client
The amount of money the clients have after each day transaction using the ATMManage and control the inventory of each ATM system
The error ratesProvide correction for the process
The level of staffManaging the staff effectively
Innovation and Corporate Learning Uses of Information
information type:information use:
Information on the location of the destroyed ATMProviding the right strategy for ensuring the security of the ATM
The system reaction timeMaking sure that the ATM is good enough to satisfy the clients
A five year customer distribution systemProviding a strategy to focus on most of the clients
Checking on other banks ATM distributionCompare the market share information of the varying ATM
Automating detection of any wrong actionPrevent un-authorized people from accessing the account
Detecting the real customerFor security purposes