Report Identify the strategic role of information systems in Omani Banks in order to develop a sustainable competitive advantage.

The management information system is basically a combined strategy set which collects as well as creates the relevant, reliable as well as organized data. The data which will be collected provides supports for the banking management of Oman banks in the strategic decision-making process because the data is the major part of the decision-making process. It is important because the management is unable to make strategic decisions. In the simple words, the management information system for the banking system is the processes’ group which are used to collect, analyze and represent the important data of bank in an effective way to make effective decision to hold high market share and competitive advantage (Al-Hajri, 2008).

RDC solution

Role of Information System in Oman Banking

The Bank Muscat is understood as the place where the important services are offered to the customers such as providing credits as well as checking or saving. In today’s world, this service’s scope is expanded to the financial services where an instrument has now been become by the banking sector in the provision of financial assistance to some important activities of the bans such as making the policy for the banks. The financial assistance is also provided for the meeting of sociology-economic obligations. As the bank Muscat is using the information system to make its effective strategies, some very important roles related to the MIS are provided in this section (Khalfan, 2014).

As the banks are the first company or organization that has invested a larger amount of their monetary resources in the communication as well as information technology. The reason for investing in technology is that the information or data is the blood of the banking industry. The IS of Bank Muscat is the satisfying the diverse needs by using a various system such as the decision support system, modeling system, analysis as well as query system. The information system provides help in making strategic plans to increase the profitability of Bank Muscat to hold a highly sustainable competitive advantage in the banking industry (Edgarc, 2012).

Furthermore, the information system also assists the bank in the transactional processing, operational the control as well as provide help in the management control. These are the areas of the banks which need high technological and strategic support. The MIS of the Bank Muscat is also providing help in the transactional processing as well as gives the solutions on the queries which are barriers in making the strategic decisions. It is possible because it makes the management able to make manage and analyze the data saved into the database of the bank (Riffai, et al., 2012).

In the Omani banks, the information system used which plays the role in managing personnel by providing important data for planning to make improvements in the decisions and operations. As the decision-making policies and strategies are effectively set and managed, the information system also manages top-level management and assists management to set the strategic goals and planning for sustainable competitive advantage. Omani Banks are mostly offering online banking services that really attracts the Omani people. Recently, the Bank Muscat has signed the agreement with al-Romania financial services for RDC solution. RDC is a remote deposit capture facility which is a facility to online the check clearance. The system is much faster and very efficient. The system is capable to scan the images of the cheques (Al-Hajri & Tatnall, 2008).

1.      Demonstrate the strategic use of enterprise applications and analyses its impact on business productivity.

In this section, it is discussed about the strategic use of enterprise applications for Omani banks as well as analysis of its impacts on banking business productivity. As discussed previously that the Omani banks are using online banking systems, the banks are using the online banking applications with the strategy that they collect information from the users through taking access to read cookies of the devices of their clients or customers. The customers of Omani Banks like to use the applications as well as happily provide the feedbacks (Al-Hajri, 2008).

The bank Muscat would also defer the loan payments for the three month for customer which is impacted through the ongoing COVID 19. The affected customers also have the option to defer the auto, and housing as well as personal loan statement for the three months initially in the Bank Muscat. A branches would also work on the rotation basis as well as it would change in every week which is needed through situations and a steps is coming in the line by the implementation of the directive of supreme committee as well as directive of the Bank Muscat which is dealing with the COVID 19 to reduce the number of employee in the office thus, and ensuring the continuity of work as well as provision of critical services. A new measure would also ensure the social distancing to prevent and limit the spread of COVID 19 thus it is also ensuring the continuation of the cirtcial banking facilities involving the CDMs/ATM as well as other e-banking channels.

The banks in Oman send the deals and new offers to their clients on the basis of their interests by using the bank's information system. It is analyzed that the use of enterprise applications in the Omani banking sector has a positive impact on the productivity of the business because the people like to pay bills, their utilities as well as the transfer of amounts of money through online banking. So, these kinds of facilities and the strategic banking offer to increase their banking interests as well as successfully increase the profitability of the banks (Ashrafi & Murtaza, 2008).

References of Management Information System

Al-Hajri, S., 2008. Adoption of Internet Technology by the Banking Industry in Oman: A Study Informed by the Australian Experience. 1(17), pp. 3-6.

Al-Hajri, S., 2008. The Adoption of e-Banking: The Case of Omani Banks. 4(5), pp. 120-128 .

Al-Hajri, S. & Tatnall, A., 2008. Adoption of Internet technology by the banking industry in Oman: A study informed by the Australian experience.. Journal of Electronic Commerce in Organizations (JECO), , 6(3), pp. 20-36..

Ashrafi, R. & Murtaza, M., 2008. Use and impact of ICT on SMEs in Oman.. Electronic Journal of Information Systems Evaluation.

Edgarc, D., 2012. Big TAM in Oman: Exploring the promise of on-line banking, its adoption by customers and the challenges of banking in Oman. 32(3), pp. 239-250.

Khalfan, A. M., 2014. Adoption and Implementation Problems of E-Banking: A Study of the Managerial Perspective of the Banking Industry in Oman. 1(7), pp. 47-64.

Riffai, M. M. M. A., Grant, K. & Edgar, D., 2012. Big TAM in Oman: Exploring the promise of on-line banking, its adoption by customers and the challenges of banking in Oman.. International journal of information management, 32(3), pp. 239-250..