INFORMATION TECHNOLOGY AND CYPRUS BANKING SECTOR

Research Proposal:

The Use of Information Technology as a Strategic Tool in Cyprus Banking Sector

Research Proposal:

The Use of Information Technology as a Strategic Tool in Cyprus Banking Sector

Introduction

As a business trend emerged, most of the applications of information technology (IT) In the financial firms are enormous and immeasurable. Organizational systems and functions are being developed, it is not a problem effortlessly. It also expanded its product development process, or the opportunities for innovation, providing cost-effective and competitive organization. Broadly speaking, information technology, strengthening the organization's business value. Central management responsibilities, the parameters of its internal affairs are particularly far-reaching implications. (Chaum, 1990, 12)

According to Mary (1997), effective planning, organization needs to know its current position, strengths and weaknesses, its competitors, market trends, and these people's information system, can be used for the organization. Information system is the adaptation, and companies are key technologies. Management information system development projects in the success of the impact of three key issues: quality, efficiency and availability. information systems, "the system, and its purpose is to store and manage information." In another definition, which is the basic infrastructure of modern business organizations, coordination of resources and inputs, process and output system sub-activities of the organization to ensure that internal oversight and efficiency in short systems information, all organizations collect and store information. In general, do not know how information technology affects the banking sector and the three key financial performance issues in Cyprus are also discussed in the banking sector has not. This study suggests the impact of information technology, in particular, the bank's financial performance information system. (Sullivan, 2003, 29)

Financial operations of one bank to another, known as the electronic transmission of electronic data interchange (EDI). It is a virtual currency transactions on the road immediately spread to the other party in the form of email. While online banking through banks and domestic use, EDI is used for the sole purpose of banking transactions.

Management of financial institutions to keep records of the form of a database of clients, database is a collection of data, can sometimes be a name and address, or in the case of banks, may be accompanied a detailed customer information, including a simple list, savings and current accounts of the Regulation, the term deposits and credit limits. The risk of the oldest, which is open to banks, credit risk, the risk involved, in which a bank is exposed when the borrower default. Therefore, banks should continue to update its database to keep potential borrowers, so you can easily manage their risks. Banks often connect to the database through the network configuration, allowing a variety of database connection different department, you can share resources and information. This relational database for a bank teller at one of the regional branches, where a database of customer-specific transactions that took place against the cold. Literature review

Mary (1997) says it is a greater need for banks to improve their oversight functions, mainly to carry out risk assessment ...