AIS in Banking Industry
a An accounting information system (AIS) involves the collection,
storage and processing of financial and accounting data (Tuovila
Alicia, 2020). Companies are now operating in the digital age and as
such their AIS is usually computer-based systems rather than manual.
An accounting information system usually combines an accounting
practice such as GAAP or IFRS, with information technology
resources such as an accounting software (Tuovila Alicia, 2020).
There are many efficient, effective, user-friendly accounting software
available to a company, that can be implemented as a part of the
technology in its AIS.
a The organization I am currently employed to is a part of the
banking industry and the AIS that is used across branches consists of
more than one software application. For the collection, storage,
processing of client/customer information and transactions,
FiservDNA software is used. For branch capture and storage of daily
account maintenance information, transactions or internal
information, not capture in DNA, Nautilus Branch Scan software
platform is used. FiservDNA platform is used for collection and
storing customer information from the onboarding process all the
way through to the closing of an account. Nautilus Branch Scan
platform is used for collecting and storing customer information
almost in a complimentary manner. Whatever information gathered
from a customer that is or not collected through DNA platform is
captured in designated buckets at the end of day through Nautilus
Branch Scan platform.
a My organization collects and stores data such as customer name,
address SSN, DOB, contact numbers, email addresses, financial
information etc. This information is used to create customer profile,
build customer account profile and used in creating customer account
security credentials. This information is only assessable by authorized
personnel with correct multi-layer credentials.
a The systems in place as part of the internal control mechanism for
the protection of customer information are wide ranging, efficient,
effective, routinely monitored, reviewed and communicated
organization wide. At present the internal control structure is
accomplishing the objectives for which they were established and for
this reason I would not suggest making any changes. In reflection, the
organization values, culture, the personal attitudes of its employees
and ethical considerations it has taken with regards to how customer
data is collected, stored and used helped in shaping the internal
control structure that is in place. The protection of our customers
information is always that the center of our data security apparatus
thus the routine monitoring and review of internal controls. The
moment there is the slightest sense that key controls may be
compromised, then an even stronger layer of control should be
implemented, employees should be trained and become educated on
the controls and ways to identify threats.
Reference
Tuovila Alicia, (2020), Accounting Information System (AIS) Definition
& Benefits - Accounting Information System (AIS): Definition and
Benefits (investopedia.com)
