Abstract
M.Comm.
The aim of this study is to consider how to create tomorrow's financial services
organisations. Information technology and business reengineering are important
within financial services organisations and have a prominent role to play in using
the long-term viability of the organisation.
Customers' interaction with a new technology environment has resulted in higher
levels of customer satisfaction with a corresponding demand for customised and
specialised services instead of traditional standardised banking services. The
constant challenge of all banks, however, should be to keep abreast of change
by translating business intelligence into innovative strategies.
Customer's demands will dictate the new wave of banking for years to come.
Ultimately, the change will come in whatever form the market and consumers
demand. Business success therefore depends not only on the development of an
excellent strategy but also on its effective execution. With the best will in the
world, companies can develop a convincing strategy to take business forward,
provide excellent products and expand the customer base. Unless companies
have the appropriate supporting cultural and technological skills to enable rapid
and efficient response to customers' needs, they will undoubtedly fail.
Another aspect that is discussed in the thesis is the close interrelationship
between marketing and business requirements in product innovation within the
banking industry, specific to customer demands. The objective of this study is to give an insight into better-informed decisionmaking
and the important role that business process re-engineering can play as
an overall strategic resource in financial services companies to gain a
competitive advantage.
The efficient and effective use of information as a strategic resource in a financial
services company is becoming more and more important. The real competition is
for market share and trying to satisfy the needs of customers.
Finally, the aim of this study is to address the importance of how to obtain a
better return on information, for managers to make informed decisions that are
better, quicker, more accurate and timely.