Emergence of Rapid Response

Article Abstract:

Financial processes and decision making have always been cumbersome and time consuming. Banks and other financial institutions have had to consume much of their customers and their own valuable time doing the necessary computations and review before arriving at a decision. The Ranier Financial Services Company has solved this problem. Using a decision support system (DSS), a combination of software products, they have been able to reduce their decision making time while improving the quality of the decisions. In implementing DSS, Ranier has established a new job function, a 'toolsmith', whose duties are to maintain communication between the various hardware and software components of DSS and the users. The value of DSS is to provide greater and better understanding of business situations.

Technology

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Strategy for Survival

Article Abstract:

The process of changing to computerized methods of operations has been going on in banks and financial institutions for the past ten years. The trend to further automation continues, and it is now possible to draw on the past to provide lessons for future implementation of new automated systems. Certain factors can lead to a smoother, more effective implementation of automation. Careful planning is extremely important, all users and organization members should understand the expected benefits and strategies of the automation. Pick the right computer for the job, and make sure that all units are capable of being integrated into the rest of the system. With these guidelines automation can continue to be a beneficial experience for banks and financial institutions.

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Computer Age Evolution

Article Abstract:

Although microcomputers have found homes in many areas of mortgage banking, they are generally not found in loan servicing departments. Functions performed by loan services departments often require more capacity that can be achieved with a micro, thus the loan servicing departments remain tied to the mainframe. Now, through a process called 'downloading' it is possible to switch many loan servicing functions to micros. Downloading is basically the transfer of relevant data from the mainframe to the micro. It tends to be time consuming and should be carefully planned, but in the long run can be a most efficient and cost effective method of handling many of the time consuming functions of loan servicing.

Microcomputers, Laws, regulations and rules

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