Management Information System (MIS) in Banking SectorIn a banking business environment characterized by a battle for the customer, where the needto grow in volume has given way to selective growth strategies (rather than messages about aslowing of new business), an undeniable competitive advantage is provided by robust,reliable and useful systems for measuring customer profitability or value, both current and potential, in connection with budgeting and pricing methodologies. This is due both to theircapacity to identify where to generate value and to the capacity to direct the actions of branches and sales staff, identifying the real profitability of each customer in order to focuson those making the greatest contribution to the margin while at the same time that workingon the profitability of those who at present contribute less.MIS (Management Information System)……. MIS Means Management information system, Use and manages information systems torevitalize business process, improve business decision making with information technologies,gain competitive advantage on the market.As described by World Bank, Management Information System (MIS) is a system that helpsmanagement in making, carrying out and controlling decisions. In effect, a project/ programmonitoring system is a Management Information System that provides information formaking decision by the management. In the design of the MIS the following six basic stagesof a MIS, ordered sequentially, have been followed1. Identification of the information needs2. Collection of information3. Classification of the information collected4. Storage5. Retrieval6. Analysis7. Decision

Key elements of MIS are Internet technologies as platform for business and commerce,Collaboration processes among all business stakeholders in networked enterprises, Globalmarkets and the international dimension, Foundation Concepts, Decision support in Businessand Banking, Information technologies and Banking applications, An approach to computing,Systems and information channels and Developing businessObjectives………………….  The MIS of Bank whose branches are so well-spread becomes a pivotal point of studyas it caters to many segments of the society (urban and rural) and offering adiversified portfolio of services like credit cards, loans, bank accounts, etc... Thus, it becomes absolutely essential for a bank to maintain an accurate mass record of alltransactions of every individual or corporate. One cannot ignore the fact that everyrecord / data should have a reliable back-up in case of any uncertainty like SystemCrashing’, ‘Virus Affected’, etc...  Better-relate to our theoretical knowledge 

Better understanding of a renowned company which uses MIS extensively and formsa part of its core activities, without the efficient management of which it would become Gain knowledge on the different types of MIS used in various departmentsfor diverse activities appropriately. While computers cannot create business strategies by themselves they can assistmanagement in understanding the effects of their strategies, and help enable effectivedecision-making. MIS systems can be used to transform data into information usefulfor decision making. Computers can provide financial statements and performancereports to assist in the planning, monitoring and implementation of strategy. MIS provide a valuable function in that they can collate into coherent reports

Unmanageable volumes of data that would otherwise be broadly useless to decisionmakers.  Not only do MIS allow for the collation of vast amounts of business data, but theyalso provide a valuable time saving benefit to the workforce. Where in the past business information had to be manually processed for filing and analysis it can now be entered quickly and easily onto a computer by a data processor, allowing for fasterdecision making and quicker reflexes for the enterprise as a whole.MIS in the Banking Sector of Bangladesh…………. Traditionally, MIS has been viewed by its practitioners as playing only a supportive role.Recently, however, due to a significant decline in the cost of information technology (IT) andgreatly improved speed and power of computers, MIS moved from its traditional role as anapplication of back office support to one offering opportunities for gaining significantcompetitive advantage. It is being increasingly viewed as having the capability to alter coreorganizational directions, reorient corporate strategy, and redefine industry structure.In recent years, there has been increased awareness among organizations of the potential ofIT and use of MIS to exploit its potential and use it effectively. Many successful localfinancial institutions like Eastern Bank Ltd., The City Bank Ltd, Brac Bank have clearlydemonstrated that information systems and technologies can be a powerful competitiveweapon that can be used to capture market share, improve customer service, reduce operatingcosts, and create new products and services.

Finally……… There is a significant need for determining the role of MIS in banks. This would assure thetop management that the MIS development is in the right direction. This would also help inexploring the intended and the real role of MIS in banks. The knowledge of the real role ofMIS in banks would help MIS managers in managing information systems by judging

the business needs of the MIS projects, associated risks, importance and ranking of MISmanagers in organizational hierarchy, need for innovation and flexibility in MIS planningapproach, etc. The MIS practitioners may use the variables used here for self-evaluation andfor deciding about the IS development.Foreign and few private banks, though in the strategic group today, have to constantly trackMIS for strategic advantage to maintain their position. Sustaining competitive advantage isvery difficult, because MIS managers have to continuously evaluate the bank's applications portfolio with respect to technology and their competitors. Public sector banks have to searchfor ways to shift from support group to the strategic group in order to enjoy a strategicadvantage from the use of MIS. In order to achieve this objective, they may have to formulatea different MIS strategy so as to make them competitive enough to survive.

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