This would have an immediate positive effect on that

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Unformatted text preview: ustomer interacts with the bank regarding this account, either in branch, over the phone or on the internet, a rule could check to see if the bonus interest rate has expired, and if so the customer can be informed of what to do to move the funds to the new account with the new bonus rate. This would have an immediate positive effect on that customer’s satisfaction. When customers get confused, they get upset, and one thing that confuses them is when the same request yields different answers. If a customer rings up to get a quote for car insurance, and then rings back to check, if the quote is not the same then the customer will not be impressed. By formalizing the decisions in the form of fixed rules, this should not happen. The formal approach brings repeatability and predictable outcomes. At the corporate banking level, corporate clients often have specific requirements in terms of reporting on activities across all their accounts, such as getting updates sent when specified activity levels or credit limits are crossed. Once again, this is ideally managed by rules-based decision making, although in this case the solution may well involve both rules and events. Rules can be put in place to check for a specific activity and then trigger the desired reports, while an event can be defined take an aggregated view of activities involving this client and if an overall limit is crossed then trigger the rule that results in the reports being issued. Rules-based decisions in banking – Business agility Much has been said about the agility delivered by operational decisions supported by a Business Rules Management System (BRMS). To recap, the agility comes from the fact that business spets can change the decisions directly, rather than having to wait for IT to make application changes. Naturally it is still essential that the necessary tools are in place to keep system change under control, but within this context it should be obvious that this direct, business-authored change capability delivers higher levels of business agility across banking o...
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This note was uploaded on 01/29/2014 for the course ACC 230 taught by Professor Xia during the Winter '13 term at Bloomsburg.

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