The effect of core banking system implemented in the bank of Bahrain and Kuwait.

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Table of Contents

Bank of Bahrain and kuwait

1.abstract

2.introduction

Research questions

Previous studies Related to same Topic:

Goal, Importance and Significant of Study:

3.Literature review

COMPUTERISED ACCOUNTING AND FINANCIAL REPORTING A CASE STUDY OF STANBIC BANK GARDEN CITY BRANCH

Journal of Internet Banking and Commerce

THE EFFECTS OF COMPUTERIZED ACCOUNTING SYSTEM ON THE PERFORMANCE OF BANKING INDUSTRY IN NIGERIA

(STUDY OF SELECTED BANKS IN ENUGU METROPOLICS)

4.methodology

4.1 Research design

4.2 Sampling and Data Collection

4.3 Data Analysis

4.4Data Analysis Procedures

Questionnaire

Bank of Bahrain and kuwait

1. abstract

The bbk (bank of Bahrain and Kuwait) was started in the state of Kuwait and in the kingdom of Bahrain in 1971. The shareholders of this bbk bank are consisting of the bank and the investment bank of Kuwait, and the government and the general public of Bahrain. This bank of Bahrain and Kuwait is now operating in almost four countries which include UAE and India. (wikipedia Bank of Bahrain and Kuwait, 2014)

The increase in the interest of BBK for core banking system and e-banking had paved the way for introducing Phoenix System by the Inntron intelligence. After implementing this phoenix system in the bank of Bahrain and Kuwait, it had entered into the growing list of its competitive bank. The major shareholders of bank of Bahrain and Kuwait are Ithmaar Bank Bahrain, Kuwait Investment Authority, and General Organization for Social Insurance (GOSI), The Pension Fund Commission. Using phoenix system in the bank of Bahrain and Kuwait helped the bank to offer customers, business, government institution and corporation and the financial products to the people.

Here literature review of 3 papers had been done. These literature reviews gave the idea for studying about core banking system. This also helped in understanding the effect of phoenix system on the bank of Bahrain and Kuwait. The case study of Stanbic bank garden city branch which had implemented computerized accounting and financial reporting has been done. Also the Journal of Internet Banking and Commerce gave the idea for the studying about BBk. The Effect of Computerized Accounting System on the Performance of in Banking Industry of the bank in Enugu metropolis also helped in understanding the Phoenix system implementation in the bank of Bahrain and Kuwait.

The study is done using the descriptive study research. This descriptive study research contains questionnaire. This questionnaire is provided to 25 respondents. This helped in finding out the effect of phoenix system in the bank of Bahrain and Kuwait.

2. introduction

In this paper we are about to discuss about the effect of core banking system which was implemented in the bank of Bahrain and Kuwait. This bank of Bahrain and Kuwait was initially known as The Bank of Bahrain and Kuwait B.S.C in accord with Amiri decree on 1971. It was operating as a commercial bank in Bahrain for nearly 41 years. They are in the market for providing full range of lending, treasury, deposit and the investment service to the domestic, regional and the international sectors using the state of the art technology. (BBK, 2014)

Harland financial solution was started in 2000. It is a subsidiary which was wholly owned by Harland Clarke Holdings Corp. and M & F Worldwide Corp. this company supplies lot of software’s for many financial institutions. One of their products is phoenix system which was the core banking system implemented in the bank of Bahrain and Kuwait. This phoenix system is the product which is used for the commercial banks. This phoenix system is designed with the goal to get the relationship of the entire customer into a single screen. (INNTRON, 2014)

Research questions

When having a thought of doing research on the effect iof phoenix system on the bank of Bahrain and Kuwait, there arises a lot of questions which do have a answer for it. Some of them are what might have initiated the bank to move to the core banking system, after implementation the impact it had on both the employees and the customer. The successful implementation has happened because of the effective involvement of the top management of the bank of Bahrain and Kuwait and also from the technical team of Harland Financial Solutions. The frequent meeting up and the discussion between them along with the revise up made the implementation to work up successfully.

Previous studies Related to same Topic:

Some previous study has been done which helps in studying the implementation of the phoenix system in the bank of Bahrain and Kuwait. The case study which was done on the Stanbic Bank, Garden City Branch based on the computerised accounting and the financial reporting. The author concludes hi research by stating that there are both favourable and unfavourable conditions in implementing the computerised accounting system but the favourable condition succeeds than that of the unfavourable conditions. The author helps us to understand that the financial report generated manually has its strength which is less when compared with the computerised accounting system. We can also understand the computerised accounting is a strong stand for the company which provides smooth operation and reliable reporting.

Other study based on the study related to the journal of internet banking and commerce done by the author helps in validating the instruments such as ease of use, reliability, timeliness, content, format, accuracy and satisfaction. These are used for measuring the end user computing satisfaction (EUCS) in the government sector of the CAS (computerized accounting system). The analysis of the author results that the revised instrument with some changes in the EUCS is valid in measuring the user satisfaction. The author also states that the findings are strongly related than the baseline model by the overall measures of satisfaction.

The study on the on the effect of the computerised accounting system on the performance of the Nigerian Enugu metropolis banks to know whether the Computerized Accounting System performance is high than that of the manual accounting system also helps in understanding about the effect of phoenix system on the Bank of Bahrain and Kuwait. The final results state that, the banking operation by the computerized accounting system is found to be quicker than the quality performance done using manual accounting system. This also helps in obtaining the quicker report generation. The authors also provide the evidence for the computerized accounting system which provides higher profit and turnover in the banks.

Goal, Importance and Significant of Study:

All the study which was made related to core banking sytem or computerized financing made the study clear to understand that this had made the adverse advantageous effect on the Bank of Bahrain and Kuwait. All these made us to do a enthusiastic research on the Bank of Bahrain and Kuwait and to analyse the implementation process, the challenges faced by them before and after implementation of the phoenix system by the Harland financial solution

3. Literature review

COMPUTERISED ACCOUNTING AND FINANCIAL REPORTING A CASE STUDY OF STANBIC BANK GARDEN CITY BRANCH

In this paper the author made a study related to computerized accounting and financial reporting. A case study of this is done on the Stanbic Bank, Garden City Branch. The main goal of the author to make a study is to bring out the favourable and unfavourable effects of computerized accounting on the financial institutions. The other goal of this study is to establish the qualities of financial reports. These financial reports are generated by computerized accounting system.

This study is done to give out the relationship maintained between the performance of the organization and the computerized accounting systems on the quality financial reporting. The data analysis is done using descriptive research. The primary and the secondary data are collected and analysed. From the data analysis findings, the company which is running its financial operations from the starting point of the data entry, processing of data and the security to the data reporting end point all the financial nature is in the computerised manner has the high response.

The study made the author to realise that thought the computerized accounting is having lot of favourable environment it also comes out with few unfavourable conditions. But the disadvantage is very few when we compare that with the advantage. The author also gives some quality of the financial report that is all generated by the computerized accounting. The report which is produced manually has its strength but it is of less when compared with the reports generated using the computerised accounting which has its unique qualities.

Finally the author provides some recommendation from his study for the Stanbic bank. He recommends the bank to continuously use the computerised accounting which will help them for preparing the financial reports easily. Also the author state that the report generated using this computerised accounting will be timely, efficient and accurate. The author also re commends other banks to implement this computerised accounting which has not yet implemented that. The daily reports generated manually have some errors which is drastically reduced because of the computerised accounting.

The author finally states that this computerised accounting is the strong stand for the company which provides reliable reporting and the smooth operation. (MAGDALENE, 2011)

Journal of Internet Banking and Commerce

In this paper the author is validating the instruments such as ease of use, reliability, timeliness, content, format, accuracy and satisfaction which is used for measuring the end user computing satisfaction (EUCS) in the government sector of the CAS (computerized accounting system). The author initiated his research with the descriptive research analysis. This descriptive analysis research contains the questionnaire which was given to nearly 90 staff of the public sector.

The descriptive and the factor analysis were done to validate and measure the entire factor which is contributing to the EUCS (end user computing satisfaction). The result will verify that of the revised instrument with the changes in the instrument of EUCS still it is valid for the user satisfaction. The author had selected the government sectors finance departments from the East Malaysia for the descriptive survey. The author had distributed 2 sets of questionnaires to each department of the financial sector. According to them their findings is strongly related than the baseline model by the overall measures of satisfaction.

The factor matrix includes some item instrument of seven determinants. The seven determinants are ease of use, reliability, timeliness, content, format, satisfaction and accuracy. The author also state the evidence of the instrument is valid and reliable in measuring the satisfaction of the end user which includes the staff of the public or the government sector. The author is also giving the evidence that the measuring the satisfaction of the end user instrument can also be applied to the IT staff or developer of the government computerized accounting system.

The limitation of this study gives the way for the future research. The author says that the future research should initially consider the sample study which will involve many government departments of Malaysia as because when the sample size is big is will be eay to ensure the research generalisation ability. Other future research can be employed in depth to get some wider probable perception for the end user. (Ilias, 2011)

THE EFFECTS OF COMPUTERIZED ACCOUNTING SYSTEM ON THE PERFORMANCE OF BANKING INDUSTRY IN NIGERIA

(STUDY OF SELECTED BANKS IN ENUGU METROPOLICS)

In this paper the author is doing the research on the effect of the computerised accounting system on the performance of the Nigerian Enugu metropolis banks and to know whether the Computerized Accounting System performance is high than that of the manual accounting system. This also can be stated that whether the computerized accounting system is providing higher profitability and turnover and also to ensure the effective means of keeping the accounting records.

The research is done using the descriptive research study which is done using questionnaire. This questionnaire survey is done by 70 persons who are the staff members selected from 3 different major banks. The result is tested using the ANOVA (analysis of variance) statistical technique. The primary data is collected using questionnaire and the personal interview. The secondary data is obtained by the bank official document, accounting books, journals and with some research work done on the computerized accounting system.

The final results of the author by his research are the banking operation by the computerized accounting system is found to be quicker than the quality performance done using manual accounting system. This also helps in obtaining the quicker report generation. The authors also provide the evidence for the computerized accounting system which provides higher profit and turnover in the banks.

The author states the accounting records can be effectively maintained and recorded using the computerized accounting system. The huge volume transaction can be done faster and a detailed financial report can be obtained using the computerized accounting system. This helps in strengthening the accountability and the control system of the bank.

The cost for maintain and designing the computerized accounting system is though high the banks are committing them to the computerized accounting system as because of their increase in performance, accuracy and higher profitability. (PATIENCE, 2009)

4. methodology

4.1 Research design

The association between the profitability and design of the accounting system is obtained by doing the analysis based on descriptive design survey. This survey has been designed in such a way to obtain to all the relevant data which will be helpful in examining the core banking system in the Bank of Bahrain and Kuwait which also mean as implementation of phoenix system of the Harland financial solution to the Bank of Bahrain and Kuwait.

4.2 Sampling and Data Collection

The sampling and the data collection are done by descriptive design survey using the questionnaire. This is conducted for nearly 25 personnel who are all selected randomly from the Bank of Bahrain and Kuwait. This process is done to understand the effect of the phoenix system on the Bank of Bahrain and Kuwait. To get their views qualitative data will be collected. The primary data collection wholly involves the data obtained from the questionnaire. In the questionnaire all the section will be having a detailed question for all the relevant input and output. The standard response for it will be provided by the questionnaire. This will be helpful to make the analysis easier. The questionnaire will be designed in such a way to analyse the phoenix system which will work out for all the theories of the collected data.

4.3 Data Analysis

The data analysis will be done using questionnaire. This questionnaire will be descriptive and also it will be the illustrative statistics like standard deviation frequencies, mean etc.

4.4 Data Analysis Procedures

The next process is of analysing the collected data. The collected data includes some of the important factors that are taken into consideration in the implementation of the phoenix system by the Bank of Bahrain and Kuwait and also to analyse up to which extend this implementation is having the impact on to bank employees and the customers and also to measure the threats and the challenges faced by them. The data collection also includes the performance of the bank. The data which are all collected for analysis will be quantitative. The obtained data will be of the descriptive statistics type. The descriptive statistics can be mean scores, range and percentages.

Using a multiple linear regression model the performance of the phoenix system on the Bank of Bahrain and Kuwait can be determined.

Y f X1,X2,X3,………………….Xn+e

Where,

Dependent variable(Y) = Profitability of the Bank of Bahrain and Kuwait bank

X1= phoenix system Implementation

X2= phoenix system Strategic Challenges

X3 = phoenix system Technical Challenges

E = Error

Questionnaire

  1. Please give your gender?

☐Male ☐female

  1. What is your current position?

☐Project Steering Committee

☐Branch project champion

☐Consultant

☐Other

  1. Please state your experience in the banking industry

☐ Less than 2 years

☐2 - 5 years

☐6 - 10 years

☐More than 10 years

  1. How long phoenix system has been implemented in your bank?

☐ Under Implementation

☐ Less than 1 year

☐ 1 to 5 years

☐ More than 5 years.

  1. Please state the extent of customization.

☐ Light Customization

☐ Heavy Customization

☐ Module Customization

☐ Other

  1. Please give the Go-live strategy that has been adopted in your bank?

☐Bing bang

☐ Phased

☐Parallel

☐Pilot

  1. Please evaluate the benefits that are achieved by BBK commercial bank from phoenix system implementation.

SA- Strongly Agree

A - Agree

N - Neutral

SD-Strongly disagree

D – Disagree

NO

item

SA

A

N

SD

D

7

Operation cost reduction

8

Centralized operational approval and responsibility

9

Strategic plan support

10

Improvement in control and audit

11

Employee productivity increase

12. Please give the phoenix system implementation strategic challenges faced by BBK by checking your agreement level.

NO

item

SA

A

N

SD

D

12

Deficiency in reskilling and training

13

Overrun of cost

14

Unreality in timelines and deadlines

15

Business strategy conflict

16

Vague scope in the project

17. Please give the phoenix system implementation technical challenges faced by BBK by checking your agreement level.

NO

item

SA

A

N

SD

D

17

Insufficiency in testing

18

Complexity in phoenix system

19

IT infrastructure is poor

20

Relying on heavy customisation

21

Cleansing of data

  1. Please give the critical success factors regarding to phoenix system pre implementation phase.

EI=Extremely Important

I=Important

N=Neutral

SI=Somewhat Important

NI=Not Important

NO

ITEM

EI

I

N

SI

NI

22

Change in the management

23

Understanding the project requirements by the implementation team

24

Cooperation by the inter department

25

Champion in the project

26

Selecting the package carefully

  1. Please give the critical success factors regarding to phoenix system implementation phase.

NO

ITEM

EI

I

N

SI

NI

27

Cooperation by the inter department

28

Champion in the project

29

Selecting the package carefully

30

Reengineering of business process

31

Strategy implementation

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