Table of Contents

Introduction E-business Reason to choose BRAC bank Organization rofile A"ailable #oft$are of BRAC Bank %i&ited BRAC BA,- ,et$ork .a Business 0rocesses Traditional Banking The use of AT.s and C3.s #.# Banking Online Banking 3ecision .aking Co&&unication BRAC bank E-Business E-Banking Co& onents E-Banking #u ort #er"ices b4 BRAC BA,2 3 4 ! '( )*+ / 12 12 12 12 11 11 11 11( 12*13 14( 1! 1' 1' 1' 1) 1) 1) 1/ 22

5eb linking Account Aggregation Electronic Authentication 0a4&ents for E-Co&&erce Bill 0a4&ent and 0resent&ent

Reco&&endation Conclusion

Introduction
An Infor&ation #4ste& 6I#7 &eans an interconnected set of infor&ation resources under the sa&e direct &anage&ent control that shares co&&on functionalit48 A s4ste& nor&all4 includes hard$are( soft$are( infor&ation( data( a lications( co&&unications( and eo le8 In si& ler ter&s Infor&ation #4ste& is an electronic s4ste& for creating( generating( sending( recei"ing( storing( dis la4ing( and rocessing infor&ation8 Infor&ation #4ste&s can be designed for storage and disse&ination of a "ariet4 of data roducts( including ri&ar4 data sets and both inter&ediate and final anal4ses( and for an interface ro"iding connections to e9ternal co& uters( e9ternal data banks( and s4ste& users8 To be effecti"e( the design and o eration of an infor&ation s4ste& &ust be carried out in close association $ith the ri&ar4 roducers of the data sets( as $ell as other grou s roducing integrated anal4ses or inter&ediate roducts8 It enables fir&s to co&&unicate and use anal4tic tools for co&&encing trade and &anaging businesses on a $orld$ide scale8 Infor&ation &ust be reliable( rele"ant( ti&el4( co& lete( and understandable8 After the industrial infor&ation age( the focus of co& anies has shifted fro& roduct oriented to kno$ledge oriented( $hich is co& eting in ter&s of rocess and inno"ation( rather than the roduct itself8 The biggest asset of co& anies toda4( is their infor&ation( re resented in eo le( e9 erience( kno$-ho$( inno"ations( and for a &arket o erator to be able to co& ete( he:she &ust ha"e a strong infor&ation infrastructure( at the heart of $hich( lies the infor&ation technolog4 infrastructure8 Thus( the stud4 of infor&ation s4ste& focuses on $h4 and ho$ technolog4 can be ut into best use to ser"e the infor&ation flo$ $ithin an organization8 Infor&ation beca&e the ke4 ele&ent for cor orate success( es eciall4 in the last decade8 T$ent4 first centur4 is the da$n of infor&ation technolog4( $here the banking sector in Bangladesh has boo&ed8 5ith the goal of obtaining $orld-class banking ser"ices( banks are full4 de endent on IT( $ith u co&ing and alread4 in rocess s4ste&s like #.#( online( hone( and internet banking( $ith "arious roducts like debit and credit cards for students( entre reneurs( and e9ecuti"es of "arious le"els8
2

E-Business
E-Business &a4 be defined as the a technologies su lication of infor&ation and co&&unication orted all the acti"ities of business8 Electronic business &ethods liers and artners( and to better

enable co& anies to link their internal and e9ternal data rocessing s4ste&s &ore efficientl4 and fle9ibl4( to $ork &ore closel4 $ith su satisf4 the needs and e9 ectations of their custo&ers8 E-business refers to &ore strategic focus $ith an e& hasis on the functions that occur using electronic ca abilities8 E-business in"ol"es business rocesses s anning the entire "alue chain; electronic urchasing and su l4 chain &anage&ent( rocessing orders electronicall4( handling custo&er ser"ice( and coo erating $ith business artners8 # ecial technical standards for e-business facilitate the e9change of data bet$een co& anies8 Ebusiness soft$are solutions allo$ the integration of intra and inter fir& business rocesses8 E-business can be conducted using the 5eb( the Internet( intranets( e9tranets( or so&e co&bination of these8

5hen bank do their business through intranet( e9tranet and internet( it is called ebanking8 E-banking is basically the auto&ated deli"er4 of ne$ and traditional banking roducts and ser"ices directl4 to custo&ers through electronic( interacti"e co&&unication channels8 E-banking includes the s4ste&s that enable financial institution custo&ers( indi"iduals or businesses( to access accounts( transact business( or obtain infor&ation on financial roducts and ser"ices through a ublic or ri"ate net$ork( including the Internet8

REASONS TO CHOOSE BRAC BANK

Banking ser"ice is one of the fastest gro$ing ser"ice industries of our countr48 A&ong &an4 other local and foreign banks $e ha"e decided to choose BRAC bank8 Our reasons behind choosing this articular co& an4 are gi"en belo$;

1.Highly im ro!ed "nd e##icient use o# technology

.odern banking re<uires "er4 so histicated technical su ort and infor&ation s4ste&8

BRAC bank can be a role &odel in our countr4 for other ri"ate banks as it uses a "er4 so histicated e9 ensi"e banking solution s4ste& 6=inacle7 in our countr48 At the sa&e ti&e it uses its resources "er4 efficientl4 and continuousl4 u dating its technolog4 infrastructure8 Currentl4 it has about 112 AT. units and 2! C3. units throughout the nation for custo&er su ort8

$.%ro&ing #"st
BRAC bank is one of the fastest gro$ing ri"ate banks in our countr48 In fact is has one of the biggest banking net$ork throughout the nation and it also continuousl4 tr4ing to e9 and and i& ro"e its ser"ice net$ork8 #ince ince tion in >ul4 2221( the Bank?s foot rint has gro$n to !' branches( 32 #.E #er"ice Centers( 42) #.E unit offices and 112 AT. sites across the countr4( and the custo&er base has e9 anded to 4'!(222 de osit and 1+)(222 ad"ance accounts till 3ece&ber 222+8

'.One o# the ioneers in modern ("n)ing in B"ngl"desh

.odern banking using state of the art infor&ation s4ste&s in ri"ate sector is not "er4 old in our countr48 It has started @ust a fe$ 4ears back8 BRAC bank is one of the first ri"ate banks in Bangladesh racticing &odern banking s4ste& and high <ualit4 custo&er ser"ice8

Org"ni*"tion +ro#ile
Corporate Vision of BBL:
ABuilding a rofitable and sociall4 res onsible financial institution focused on .arkets and Business $ith gro$th otential( thereb4 assisting BRAC and stakeholders build a @ust( enlightened( health4( de&ocratic and o"ert4 free BangladeshA8 5ith institutional shareholdings b4 BRAC( International =inance Cor oration 6I=C7( and #hore ca International( BRAC Bank %i&ited has been the fastest gro$ing bank in 2224 and 222!8 BB%( a full4 co&&ercial bank( focuses on ursuing une9 lored &arket niches in the s&all and &ediu& enter rise businesses( $hich till no$ has re&ained largel4 unta ed $ithin the countr48

Com "ny O!er!ie&,

BRAC Bank %i&ited( a full-ser"ice co&&ercial bank $ith %ocal and International Institutional shareholding( is ri&aril4 dri"en b4 creating and ursuing &arket niches not traditionall4 &et b4 con"entional banks8 BRAC Bank has been stri"ing to i& le&ent BRelationshi BankingC to its di"erse range of custo&ers s read across the countr4 under an on-line banking latfor&8 The Bank $ork $ith go"ern&ents in de"elo ing countries around the $orld( assisting eo le in all areas of de"elo &ent( fro& olic4 and strategic ad"ice to the identification( re aration( a raisal and su er"ision of de"elo &ent ro@ects8 The Bank is al$a4s acti"el4 in"ol"ed in financial sector restructuring and regulator4 $ork( continuing to hel nations &o"e to$ards &arketbased econo&ies through financial sector restructuring( infrastructure de"elo &ent( ri"atization and regulation8 # ecial efforts are being &ade to e9 and acti"ities in the field of education( such as earl4 childhood de"elo &ent and girls? education8 The Bank is dee l4 co&&itted to anticorru tion initiati"es for a better global societ48

The business goals and ob@ecti"es $ere to s read and ensure efficient( high <ualit4 and reliable banking ser"ices b4 increasing access to econo&ic o ortunities for all indi"iduals and businesses in Bangladesh $ith a s ecial focus on underser"ed enter rises and households across the ruralDurban s ectru& and at the sa&e ti&e contributing to$ards the rofitabilit4 of the bank8

A!"il"(le So#t&"re o# BRAC B"n) -imited

BB% is using a huge nu&ber of co& le9 soft$are and hard$are to enable the da4 to da4 transaction to beco&e "er4 co&fortable to the staff bod48 .ost of the soft$are is related to I# of the IT de art&ent( $ho are al$a4s struggling to &ake the auto&ated infor&ation s4ste& fla$less8 The a"ailable list of soft$are that is used in the infor&ation s4ste& are as follo$s; .in"cle; BRAC Bank uses a organization $ide enter rise a lication soft$are

na&ed .in"cle Core B"n)ing Solution $hich is ro"ided b4 In#osys Technologies -imited8 It is a co& rehensi"e( integrated 4et &odular business solution that effecti"el4 addresses the strategic and da4-to-da4 challenges faced b4 banks8 Or"cle; Their database is centralized8 The central database of BRAC Bank is &ade b4 Or"cle8 All the infor&ation of the organization 6e8g8 custo&er infor&ation( e& lo4ee infor&ation( co& an4 assets( transactions data etc87 is stored in the central database $hich is connected $ith e"er4 branch( office( AT. and C3.s throughout the countr48

Access; This soft$are is &ainl4 used for AT. card e&bossing and 0I, &ailer generation8 It is e9ternall4 i& orted soft$are8 C"rd+ro; This s4ste& is used to &anage credit card o erations and .erchant 0O# etc8 It is e9ternal s4ste& bought b4 BB%8

 E- .-O/; It is the art of BB%Es a erless ro@ect( used for all t4 es of stationar4 re<uisition( is de"elo ed internall48

Eldor"do; It is the Re&ittance 0rocessing s4ste&( de"elo ed and &aintained b4 internal resources8 IB 0Internet B"n)ing1, it is the Internet banking &odule8 Currentl4 de"elo ed and &anaged b4 internal resources8 K"stle; It is the loan re rocessing s4ste&( $hich hel s to screening loan rocessing8 It is a art of the e9ternall4 urchased s4ste& b4 the bank8 2ISTERS3S; It is used for kee ing all .I# internall48 Ne4us; This soft$are is used for Credit Card E&bossing and 0I, generation8 5ith the hel of this soft$are the bank e&bosses ne$ and re laced credit cards and their res ecti"e 0I,s8 It is also e9ternall4 i& orted soft$are8 +hoeni4; This soft$are is used for AT. .anage&ent8 Currentl4 BB% has o"er 112 AT.s8 It is also e9ternall4 i& orted soft$are8 5CR6; It is internall4 de"elo ed custo&er relationshi "ie$er8 E-Attend"nce; This is the auto&ated &aintenance soft$are electronicall4 tracking of attendance of the total BRAC Bank e& lo4ee8 5ith the hel of this soft$are the e& lo4ees log in $ith the 0I, no $hen the4 enter in their office and e9it their office8 C"rd Che7ue -i!e; It is the &ain soft$are to rocess the card che<ue8 E 8 St"tement !ie&er, 5ith the hel this soft$are the account state&ent is shooting to the e &ail addresses of the account holders8 It sa"es huge courier cost of
7

the bank and safel4 assures the deli"er4 of the state&ent of the account holder electronicall48 It is de"elo ed and &anaged b4 the internal IT tea&8 TEA2 ; 5ith this soft$are the authorit4 kee tracking of their o"erall rocure&ent of big ite&s such as 0Cs( rinters( ser"ers( F0# and others "aluable resources8 It is the &ost recent and latest de"elo &ent soft$are created and &anaged b4 the internal resource of BB%8

E"er4 branch has so&e co& uters that are interconnected $ith a %A, connection8 All the branches( AT.s and C3.s are connected $ith the central database b4 a 5A, net$ork $hich is connected $ith the global internet8 The net$ork is rotected b4 a fire$all so that an4 ri"ate infor&ation cannot be leaked outside8 There are also outside ser"ice ro"iders like the teleco& co& anies for the #.# banking ser"ice $ho are also connected $ith the net$ork8 The technologies that are used b4 BRAC Bank as the &ediu& of data co&&unications18 =iber-o tic cable8 28 Radio8 38 6SAT 0Ger4 #&all A erture Ter&inal7 technolog48 It is a t4 e of satellite technolog4 that is co&&onl4 used to trans&it narro$band data 6e8g8 oint of sale transactions such as credit card( AT.s78 The4 also ha"e the latest 0Cs( net$ork hubs( &ode&s( high-end router( high-end s$itch( H0 #er"er( #A,( 3A#( ,A# and Backu .edia( securit4 de"ice 6Cisco 0II =ire$all7( =iber-cabling for %A,( &ostl4 o$ered b4 =lora %i&ited8

=igure; BRAC BA,- ,et$ork .a

Business +rocesses
After the i& le&entation of =inacle $hich is an enter rise a lication s4ste&( &an4 of the banking related business rocesses of BRAC Bank has beco&e auto&ated e9ce t the rocesses in $hich hu&an in"ol"e&ent is needed to gi"e in ut in the s4ste&8 The business rocesses that are &ostl4 or artiall4 de endent on the infor&ation s4ste& are1. Tr"dition"l B"n)ing- O ening an4 t4 e of account for a custo&er( de ositing &one4( $ithdra$ing &one4( allo$ing loans( interest and rate calculation( currenc4 e9change rates calculation( issuing credit and debit cards( $ealth &anage&ent etc8 The4 ha"e a co& uterized for& for it $hich the custo&er fills out and the data is entered fro& that8 $. The use o# AT2s "nd C92s - In &odern banking s4ste&( $ithdra$ing &one4 fro& the AT.s and de ositing &one4 $ith a C3. 6Cash 3e osit .achine7 has beco&e one of the &ost o ular trends8 '. S2S B"n)ing- #.# banking is a relati"el4 ne$ idea in our countr48 It is used on a s&all scale b4 BRAC Bank %td8 The ser"ices are ro"ided through #.# $ith the hel of teleco& co& anies8 BRAC Bank ro"ides the ser"ices gi"en hereInstant Account Balance * .ini #tate&ent High Galue Transaction Alert Account status change alert 5elco&e alert 6for account o ening7 0a4&ent 6loan7 failure alert8 Che<ue clearing failure alert =i9ed 3e osit .aturit4 Alar&8

10

:. Online Banking-Online banking is a rocess in $hich a custo&er does not ha"e to go to a s ecific branch in order to $ithdra$ &one4 fro& his account8 In this ser"ice he:she can go to the branch or AT. 624:)7 booth nearb4 his ho&e or $orking location and $ithdra$ &one48 0re"iousl4 a custo&er had to go to a s ecific branch in order to $ithdra$ &one48 ;. 9ecision 2")ing-E"er4 bank has to take decisions often on financial &atters8 As all of the financial infor&ation is stored in the database( the bank is "er4 &uch de endent on infor&ation s4ste& in taking financial decisions8 <. Communic"tion-An4 t4 e co&&unication( inter ersonal as $ell as data trans&ission for transactions infor&ation( is hea"il4 de endent on infor&ation s4ste&s8

BRAC ("n) E-Business

Custo&ers can access e-banking ser"ices using an intelligent electronic de"ice( such as a ersonal co& uter 60C7( ersonal digital assistant 603A7( auto&ated teller &achine 6AT.7( or Tele hone8 5hile the risks and controls are si&ilar for the "arious ebanking access channels( this re ort focuses s ecificall4 on Internet-based ser"ices due to the InternetEs $idel4 accessible ublic net$ork8 Accordingl4( this re ort begins $ith a discussion of the t$o transactional8 ri&ar4 t4 es of Internet $ebsites; infor&ational and

In#orm"tion"l /e(sites
Infor&ational $ebsites ro"ide custo&ers access to general infor&ation about the financial institution and its roducts or ser"ices8 Risk issues should be considered $hen re"ie$ing infor&ational $ebsites include; 0otential liabilit4 and consu&er "iolations for inaccurate or inco& lete infor&ation about roducts( ser"ices( and ricing resented on the $ebsiteJ 0otential access to confidential financial institution or custo&er infor&ation if the $ebsite is not ro erl4 isolated fro& the financial institutionEs internal net$orkJ

11

0otential liabilit4 for s reading "iruses and other &alicious code to co& uters co&&unicating $ith the institutionEs $ebsiteJ and ,egati"e ublic erce tion if the institutionEs on-line ser"ices are disru ted or if its ro riate or offensi"e &aterial8

$ebsite is defaced or other$ise resents ina

Tr"ns"ction"l /e(sites
Transactional $ebsites ro"ide custo&ers $ith the abilit4 to conduct transactions through the financial institutionEs $ebsite b4 initiating banking transactions or bu4ing roducts and ser"ices8 Banking transactions can range fro& so&ething as basic as a retail account balance in<uir4 to a large business-to-business funds transfer8 E-banking ser"ices( like those deli"ered through other deli"er4 channels( are t4 icall4 classified based on the t4 e of custo&er the4 su ort8 The follo$ing table lists so&e of the co&&on retail and $holesale e-banking ser"ices offered b4 financial institutions8

T"(le 1, Common E-B"n)ing Ser!ices

Ret"il Ser!ices Account &anage&ent Bill a4&ent and resent&ent ,e$ account o ening a Consu&er $ire transfers In"est&ent:Brokerage ser"ices %oan a a lication and ro"al /holes"le Ser!ices Account &anage&ent Cash &anage&ent #&all business loan lications( a ro"als( or ad"ances Co&&ercial $ire transfers Business-to-business a4&ents E& lo4ee benefits: ension

Account aggregation

12

ad&inistration

#ince transactional $ebsites t4 icall4 enable the electronic e9change of confidential custo&er infor&ation and the transfer of funds( ser"ices ro"ided through these $ebsites e9 ose a financial institution to higher risk than basic infor&ational $ebsites8 5holesale e-banking s4ste&s t4 icall4 e9 ose financial institutions to the highest risk er transaction( since co&&ercial transactions usuall4 in"ol"e larger dollar a&ounts8 In addition to the risk issues associated $ith infor&ational $ebsites( e9a&iners re"ie$ing transactional e-banking ser"ices should consider the follo$ing issues; #ecurit4 controls for safeguarding custo&er infor&ationJ Authentication rocesses necessar4 to initiall4 "erif4 the identit4 of ne$ custo&ers and authenticate e9isting custo&ers $ho access e-banking ser"icesJ %iabilit4 for unauthorized transactionsJ %osses fro& fraud if the institution fails to "erif4 the identit4 of indi"iduals or businesses a l4ing for ne$ accounts or credit on-lineJ

0ossible "iolations of la$s or regulations ertaining to consu&er ri"ac4( anti-&one4 laundering( anti-terroris&( or the content( ti&ing( or deli"er4 of re<uired consu&er disclosuresJ and ,egati"e ublic erce tion( custo&er dissatisfaction( and otential liabilit4 resulting fro& failure to rocess third- art4 a4&ents as directed or $ithin s ecified ti&e fra&es( lack of a"ailabilit4 of on-line ser"ices( or unauthorized access to confidential custo&er infor&ation during trans&ission or storage8

E-B"n)ing Com onents

E-banking s4ste&s can "ar4 significantl4 in their configuration de ending on a nu&ber of factors8 =inancial institutions should choose their e-banking s4ste& configuration( including outsourcing relationshi s( based on four factors;
13

#trategic ob@ecti"es for e-bankingJ #co e( scale( and co& le9it4 of e<ui &ent( s4ste&s( and acti"itiesJ Technolog4 e9 ertiseJ and #ecurit4 and internal control re<uire&ents8

=inancial institutions &a4 choose to su

ort their e-banking ser"ices internall48 lications to

Alternati"el4( financial institutions can outsource an4 as ect of their e-banking s4ste&s to third arties8 The follo$ing entities could ro"ide or host 6i8e8( allo$ a reside on their ser"ers7 e-banking-related ser"ices for financial institutions; Another financial institution( Internet ser"ice ro"ider( Internet banking soft$are "endor or rocessor( Core banking "endor or rocessor( .anaged securit4 ser"ice ro"ider( Bill a4&ent ro"ider( Credit bureau( and Credit scoring co& an48

E-banking s4ste&s rel4 on a nu&ber of co&&on co& onents or institution; 5ebsite design and hosting( =ire$all configuration and &anage&ent( Intrusion detection s4ste& or I3# 6net$ork and host-based7( ,et$ork ad&inistration( #ecurit4 &anage&ent( Internet banking ser"er(

rocesses8 The

follo$ing list includes &an4 of the otential co& onents and rocesses seen in a t4 ical

14

E-co&&erce a

lications 6e8g8( bill a4&ent( lending( brokerage7(

Internal net$ork ser"ers( Core rocessing s4ste&( 0rogra&&ing su ort( and ort s4ste&s8

Auto&ated decision su

These co& onents $ork together to deli"er e-banking ser"ices8 Each co& onent re resents a control oint to consider8 Through a co&bination of internal and outsourced solutions( &anage&ent has &an4 alternati"es $hen deter&ining the o"erall s4ste& configuration for the "arious co& onents of an e-banking s4ste&8 Ho$e"er( for the sake of si& licit4( onl4 t$o basic "ariations are resented here8 =irst( one or &ore technolog4 ser"ice ro"iders can host the e-banking a configuration( the institutionEs ser"ice lication and

nu&erous net$ork co& onents as illustrated in the follo$ing diagra&8 In this ro"ider hosts the institutionEs $ebsite( Internet banking ser"er( fire$all( and intrusion detection s4ste&8 5hile the institution does not ha"e to &anage the dail4 ad&inistration of these co& onent s4ste&s( its &anage&ent and board re&ain res onsible for the content( banking s4ste&8 #econd( the institution can host all or a large ortion of its e-banking s4ste&s internall48 A t4 ical configuration for in-house hosted( e-banking ser"ices is illustrated belo$8 In this case( a ro"ider is not bet$een the Internet access and the financial institutionEs core rocessing s4ste&8 Thus( the institution has da4-to-da4 res onsibilit4 for s4ste& ad&inistration8 erfor&ance( and securit4 of the e-

E-B"n)ing Su

ort Ser!ices (y BRAC BANK

ort e-co&&erce8 ose to the

In addition to traditional banking roducts and ser"ices( financial institutions can ro"ide a "ariet4 of ser"ices that ha"e been designed or ada ted to su .anage&ent should understand these ser"ices and the risks the4

15

institution8 This section discusses so&e of the &ost co&&on su

ort ser"ices; $eb

linking( account aggregation( electronic authentication and a4&ents for e-co&&erce8

/e( lin)ing
BRAC bank &aintains their sites on the 5orld 5ide 5eb8 Through $eb linking BRAC bank offer their custo&ers to erfor& financial transactions( such as a4ing bills or art of the transferring funds bet$een accounts8 A $eb link is a $ord( hrase( or i&age on a

$eb age that contains coding that $ill trans ort the "ie$er to a different $ebsite or a co& letel4 different $ebsite b4 @ust clicking the &ouse8

Account Aggreg"tion

BRAC bank use account aggregation $hich is a ser"ice that gathers infor&ation fro& &an4 $ebsites( resents that infor&ation to the custo&er in a consolidated for&at( and( in so&e cases( &a4 allo$ the custo&er to initiate acti"it4 on the aggregated accounts8 The infor&ation gathered or aggregated can range fro& ublicl4 a"ailable infor&ation to ersonal account infor&ation 6e8g8( credit card( brokerage( and banking data78 Aggregation ser"ices can i& ro"e custo&er con"enience b4 a"oiding &ulti le log-in and ro"iding access to tools that hel custo&ers anal4ze and &anage their "arious account ortfolios8 =or account aggregation custo&er needs18 Fsers I3 28 ass$ords to sign in

Once the custo&erEs account is accessed( the aggregator co ies the ersonal account infor&ation fro& the $ebsite for re resentation on the aggregatorEs site8

Electronic Authentic"tion

16

Gerif4ing the identities of custo&ers and authorizing e-banking acti"ities are integral arts of e-banking financial ser"ices8 #ince traditional a er-based and in- erson identit4 authentication &ethods reduce the s eed and efficienc4 of electronic transactions( financial institutions BRAC bank ha"e follo$ing authentication &ethods( including; 18 0ass$ords and ersonal identification nu&bers 60I,s7( 28 3igital certificates using a ublic ke4 infrastructure 60-I7( 38 .icrochi -based de"ices such as s&art cards or other t4 es of tokens( 3atabase co& arisons 6e8g8( fraud-screening a lications78

+"yments #or E-Commerce

BRAC bank acce ts "arious for&s of electronic a4&ents for their roducts and

ser"ices8 =inancial institutions la4 an i& ortant role in electronic a4&ent s4ste&s b4 creating and distributing a "ariet4 of electronic a4&ent instru&ents( acce ting a si&ilar "ariet4 of instru&ents( rocessing those a4&ents( and artici ating in clearing and settle&ent s4ste&s8 The electronic a4&ents &echanis&s that BRAC bank ro"ides for e-co&&erce are auto&ated clearing house 6ACH7 debits and credits through the Internet( electronic bill a4&ent and resent&ent( and electronic credit card a4&ents8

Bill +"yment "nd +resentment

Bill a4&ent ser"ices er&it custo&ers to electronicall4 instruct their financial institution to transfer funds to a businessEs account at so&e future s ecified date8 BRAC bank custo&ers can &ake a4&ents on a one-ti&e or recurring basis( $ith fees t4 icall4 assessed as a K er ite&C or &onthl4 charge8 In res onse to the custo&erEs electronic a4&ent instructions( BRAC bank generates an electronic transaction D usuall4 an auto&ated clearinghouse 6ACH7 credit D or &ails a a er check to the business on the custo&erEs behalf8

17

Internet-based cash &anage&ent is the co&&ercial "ersion of retail bill

a4&ent8

Business custo&ers use the s4ste& to initiate third- art4 a4&ents or to transfer &one4 bet$een co& an4 accounts8 Cash &anage&ent ser"ices also include &ini&u& balance &aintenance( recurring transfers bet$een accounts and on-line account reconciliation8 To &itigate risks the bank authorit4 reco&&ended the follo$ing 3Os and 3O,ETs for their E Banking custo&ers; DOs: Fse anti hasing bro$ser( i8e8 Internet E9 lorer )( ,etsca e +81( =irefo9 Fse a secured $ebsite $hile sub&itting an4 sensiti"e financial infor&ation Fse 0O0 F0 Blockers Be sus icious of an4 of these sorts of e-&ail and &essage Regularl4 check Bank( Credit Card and 3ebit Card #tate&ent( Re ort if sus icious transactions are found Regularl4 change ass$ord and 0I, Call =inancial Institutes if recei"e an4 e-&ail that re<uest to enter an4 securit4 infor&ation Check 3igital #ignature %og off as soon as finish online banking Take a close look at the h4 erlink are clicking DONTs: 3o not lea"e logging on online banking facilit4 3o not share 0I, and 0ass$ord $ith an4one 3o not sa"e userna&e and ass$ord in the bro$ser 3o not enter an4 securit4 infor&ation o"er the Internet A"oid using c4ber cafes and other ublic laces for logging on to banking s4ste& 8 3o not use the links send "ia e-&ails and &essages to get to an4 $eb site
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RECO22EN9ATIONS
5e ha"e alread4 discussed about the t4 es of infor&ation s4ste&s BRAC bank is using8 5e ha"e to agree that the infor&ation s4ste& the4 are using is <uite so histicated8 But there is al$a4s roo& for i& ro"e&ent8 To sta4 in the co& etition BRAC bank &ust continuousl4 u date and i& le&ent ne$ technologies8 Because co& etitors like 3BB%( .ercantile( EB%( #outh-East( 3haka Bank alread4 ossesE technologies like BRAC bank and the4 are al$a4s looking to bring ne$ technologies into the &arket8 Our reco&&endations regarding the co& an4Es use of infor&ation s4ste& and ebanking $ould be; The co& an4 should u date their $ebsites dail4 and &aintain their securit4 &ore recisel48 The4 should ado t the correct business &odel that ensures the &ost roducti"it4 fro& their infor&ation s4ste&s8 The =inacle suite is for onl4 banking solutions8 But there are also other functions of a co& an4 like su l4 chain &anage&ent( custo&er relationshi &anage&ent( organizationEs fi9ed assets &anage&ent( rocure&ent etc8 #o after doing &arginal anal4sis( the4 can i& le&ent s4ste&s like CR. or #C. de ending on the necessit4 as the organization gro$s larger8 In order to &onitor the Key +er#orm"nce Indic"tors 6K+I7( the co& an4 can i& le&ent -.# s4ste&s $hich are business intelligence s4ste&s that su decision &aking8 E"er4 large organization set so&e Key +er#orm"nce Indic"tors 6K+I7 $hich are financial and non-financial &easures used to hel an organization define and e"aluate ho$ successful it is8 0ro er coordination of all t4 es of infor&ation s4ste&s &ust be ensured8 ort

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If such i& ro"e&ents are brought in then $e can e9 ect BRAC Bank to be co& letel4 BdigitalE "er4 soon8 Also fro& .I# ers ecti"e( their a follo$8 The4 ha"e alread4 utilized &an4 o roach shall be seen as an idol to ortunities offered b4 I#J no$ it is a challenge

for the& to &aintain this structure and e9 lore further8 5e ho e BRAC Bank $ill lead the $a4 for other co& anies to e9 loit these boo&ing fields of IT8

CONC-=SION
There ha"e been significant changes in the $a4 econo&ic acti"it4 has been organized since the ince tion of large-scale in"est&ent in infor&ation technologies like co& uters and others8 In this a er( $e tried to add b4 sho$ing ho$ the nature of the fir& can ro"ide insight into the &echanis&s b4 $hich infor&ation technolog4 influences organizational structure in ter&s of BB% $ith the intention of getting so&e o erational lacking and gi"ing the& $ith solutions8

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Reference
18 .r8 Ekra&ul Ha<ue Cho$dhur4( Anal4st( Technolog4 user Infrastructure( IT 3i"ision( BRAC Bank %td8 28 .r8 Ashraful( IT 3i"ision( BRAC Bank %td8 38 $$$8bracbank8co&8 48 $$$8finacl8co&8 !8 .anage&ent Infor&ation #4ste&s 12th Edition( -enneth C8 %oudon and >ane 08 %oudon8

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