MGMT 3610 Lecture Notes - Lecture 14: Jagannath, Core Banking, Business Process Management
4 Jan 2021
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Document Summary
The current business process in the banking industry. Bpm theory and practices and, in particular, process modeling & analysis is commonly applied in the banking industry. Increased competition and the demand for improved results has prompted many banks to pursue bpm to reshape operations and minimize costs. Not only do banks want to reduce their bpm prices. According to gartner, the banking sector is the biggest user of information technology goods and services with a total of 487 billion dollars worldwide. They also seek to minimize business process cyclical time, improve customer loyalty as well as process overhaul and restructuring to become more effective (guo & liang, 2016). The business process management (bpm) discipline uses software technologies to build templates to refine critical business processes. While this strategy may well cover various it criteria, the difficulty of introducing a core banking structure is not enough. Therefore, a much broader concept of bpm is expected for core banking.
