New Technology in The Banking System

New Technology in The Banking System Case Study

Instructions/Descriptions

New Technology in The Banking System Case Study

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For this writing task, you’ll need to respond to the following scenario:

Who are you?

You work as department head in the information technology (IT) department at First Federal Bank. Part of your job is to conduct an ongoing assessment of risk for the institution and to recommend proper controls. Banking systems should be able to quickly collect and edit information, summarize results, and promptly correct any errors. You have identified a possible threat to “timeliness” of information.

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You have received reports from tellers that customers have been complaining more often lately of bounced checks. They have been bringing in their checkbook ledgers and bank statements, and there have been a consistent and steady stream of complaints about deposits made between 1 p.m. and 2 p.m. that do not seem to post to accounts by the end of the business day.

You have conducted an examination and feel befuddled since you just installed a new system that advertised itself as quick, accurate, and reliable. This is terrible! The system cost a lot of money and you fought hard for it.

You researched and recommended this system and pushed for it because it had so many internal controls and neat features for the bank and its tellers.

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It has decreased time by five minutes to complete closing procedures and it runs an auto-save every hour, which saves an additional step for the tellers. You have spent a lot of time training the staff and have put up with a lot of teasing about the aches and pains of new technology. You feel badly for the new tellers, many of whom are older, because the bank has hired more part-timers with experience; but you feel confident that once the tellers get used to this system they will really like it.

New Technology in The Banking System Case Study

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