Standard Chartered Bank

Standard Chartered Bank

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Prepared for Md. Zahidul Islam

Faculty and Course Instructor

CBA - College of Business Administration

Prepared by

Group: “Dark Night”

Name ID ProgramTaslima Taher Munmun 10102061 BBA

Md.Rasel Babu 10102033 BBA

Md.Rasal 10102059 BBA

Sayed Muztaba Ali 10102066 BBA

Md. Shafiqul Alam 10202023 BBA

IUBAT- International University of Business Agriculture &

Technology

11th April, 2011

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Letter of Transmittal

11th April 2011

Md. Zahidul Islam

Instructor of MGT 104 (Legal Environment of Business)

IUBAT- International University of Business Agriculture and Technology.

4 Embankment Drive Road, Sector #10, Uttara, Dhaka.

“Dark Night”

Subject: Standard Chartered Bank.

Dear Sir,

Here is the Report on “Standard Chartered Bank “It is great gratification for us to submit our report on the topic of ““Standard Chartered Bank”. We have prepared this report, as part performance of the course MGT 104 (Legal Environment of Business).This report contained some important things and policy of SCB (Standard Chartered Bank), for preparing the report we visited some web pages, it required more than 15 days.

Thank you very much for providing us this type of opportunity and giving us the necessary guidance and direction needed for preparing the report. We express our heart full gratitude to you to go through this report and make your valuable comments. We hope this type of report will be able to fulfill your expectation towards us.

Thank You

Yours truly,

………………

Md. MD. Rasal

Group Leader of “Dark Night”.

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Letter of Authorization

11th April, 2011

IUBAT- International University of Business Agriculture & Technology

4 Embankment Drive Road, Uttara Model Town

Sector 10, Dhaka 1230

Md. Rasal

The group leader of “Dark Night”

Bachelor of Business Administration

Dear, Md. Rasal

You will be happy to that a report “Standard Chartered Bank” has been assigned to you. I

received your proposal two weeks before. You will have to submit the report as soon as possible

based on your proposal. I hope you will successfully complete the report on time.

If you have any kinds of queries don’t hesitate to contact with me.

With thanks

Sincerely

…………………………

Md. Zahidul Islam

Faculty and Course Instructor

CBA - College of Business Administration

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Acknowledgement

As we have prepared the report we achieved a lot of information from this report. We have

known the history of name, history & use of various modern technologies which is very essential

part of modern Banking.

In the process of conducting this report, we express our gratitude and respect to some respectable

person for their enormous help and giant support.

First of all we thank to Md. Zahidul Islam Faculty and Course Instructor College of Business

Administration who helped out by his brilliant guidelines to make this proposal, without which it

was not possible to conduct it.

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Executive Summary

Standard Chartered PLC provides consumer and wholesale banking products and services to

individuals, small and medium-sized enterprises (SMEs), corporate, and institutional customers.

It offers savings accounts, demand drafts, foreign exchange services, safe deposit boxes, and

telegraphic transfers; personal loans and mortgages; credit cards; life, savings and retirement

planning, health and medical, home, motor, and travel insurance; and investment advisory

services. The company also provides private and priority banking; international banking; cash

management; trade finance and working capital, including import, export, and cross-border

financing services; business installment loans and mortgages; transaction banking, financial

markets, and corporate finance services; SME banking services; custody services; and Saadiq

Islamic banking services, as well as Internet banking services. It operates approximately 1,700

branches and outlets, and 5,600 ATMs primarily in India, Hong Kong, Singapore, South Korea,

the People’s Republic of China, Malaysia, Indonesia, Brunei, Thailand, Taiwan, Mauritius,

Vietnam, the Philippines, Pakistan, the United Arab Emirates, Qatar, Jordan, Sri Lanka, Oman,

and Bangladesh, as well as in Africa, the Americas, and Europe. The company was founded in

1853 and is headquartered in London, the United Kingdom.

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Content

1. Background And Introduction

2. Main Services

3. Vision And Mission

4. Total Offices At National And International Level

5. Objectives

6. Information System In Standard Chartered

7. Management Overview

8. Organization Computing Resources

9. Organization Transaction Processing System

10.Management Information System

11.Classification And Specific Problem

12.Overview

13.History

14.Contact Centre

15.Conclusion And Future Work

16.Recommendations

17.Limitation

18.Suggestion

19.References

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BACKGROUND AND INDRODUTION:

The Standard Chartered Group was formed in 1869 through a merger of two banks: The Standard Bank of South Africa founded in 1863, and the Chartered Bank of India, Australia and China, founded in 1853. As its operations came under threat from nationalization programmers in the countries in which it was present in the 1970s, the bank sought expansion in developed countries, particularly the USA.

A Standard Chartered Bank (HQ) in Singapore. In Pakistan Standard Chartered merged in Grind lays' operations, making Standard chartered not only the largest foreign bank in the country, but the only one with branches in all four provinces.

MAIN SERVICES:

Consumer Banking:

Standard Chartered provide Mortgages, Credit Cards, Personal Loans, Auto Loans, IslamicBanking, and Wealth Management products. In order to maximize customer convenience, theyoffer 24-hour Phone Banking, eStatements, SMS Banking, ATM Cards and VISA Debit Cards, as well as Online Banking and state of the art branches.

Wholesale Banking:

Wholesale banking provides Transactional banking, Debt Capital Markets, Corporate Finance, Derivatives & FX Options, Commodity Finance and deposit products.

Islamic Banking:

Standard Chartered Saadiq's dedicated Islamic Banking team provides comprehensiveinternational banking services and a wide range of Shariah compliant financial products that arebased on Islamic values.

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VISION AND MISSION:

Vision

To be the preferred provider of Islamic financial products in the market.

Mission

To create exceptional value for our clients, investors and staff; through market leadership in providing innovative Shariah compliant products and solutions, and by adopting and living our core values.

AREAS OF BUSINESS:

Standard Chartered have branches in all the main 25 cities of Pakistan. It has more then 150

Branches in Pakistan.

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TOTAL OFFICES AT NATIONAL AND INTERNATIONAL LEVEL:

Standard chartered is operating more than 150 branches in about 25 cities of Pakistan. Standard Chartered has a history of over 150 years in banking and operates in many of the world's fastest- growing markets with an extensive global network of over 1,400 branches (including subsidiaries, associates and joint ventures) in over 50 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas.

As one of the world's most international banks, Standard Chartered employs 60,000 people, representing over 90 nationalities, worldwide. This diversity lies at the heart of the Bank's values and supports the Bank's growth as the world increasingly becomes one market.

MAIN OBJECTIVES:

Standard Chartered Bank is an international bank, focused on the established and emergingmarkets of Asia, Africa, the Middle East and Latin America with an extensive global network ofmore than 600 offices in over 50 countries. The three principal business groups are Treasury,Consumer Banking and Corporate and Institutional Banking. Their main objective is to offeroutstanding value to their customers by providing knowledgeable, efficient and reliable servicein a personal, helpful and responsive manner. Central to this service philosophy is theprofessional consultative approach they take with each customer. By getting to know thecustomer better, they can identify the customer's needs and match them with quality productswhich suit their best.

INFORMATION SYSTEM IN STANDARD CHARTERED:

As standard chartered started their business in Pakistan in 2006 so as such there is no Pre-IS eraof standard chartered bank in Pakistan. They are using IT since the start of their business inPakistan. IT creates an evolution in whole world in every business and so in banking system.Now in standard chartered with the help of IS the daily transactions are recorded in branchcomputers and these branch computers are then connected to the main head office server so inthis way they keep their daily process update on daily basis.As Time is money, and due to IS standard chartered bank make thousands of transactions perday. In fact, IS makes whole process much more quick, simple and reliable. Due to ISemployees can easily connect with other branches, customer service gets improved, onlinebanking emerged and lot of others benefits.Standard Chartered Online is an innovative Online Banking service that you can tailor to suityour precise banking needs. It gives you convenient, round-the-clock banking services ranging

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from day-to-day account transfer transactions to real-time valuable financial information. Nowyou can manage your finances anytime, anywhere.

MANGEMENT OVERVIEW:

Organization management chart:

Organization computing resources:

Software Resources:-

Following software’s is used for the functioning of our information system and organization;

Application Software:-

Following application software’s are used in our organization and functioning of our information system;

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CEO

Executive Director

Regional Managers

Regional Managers

Regional Managers

Branch Managers

Branch Managers

Branch Managers

Branch Managers

Branch Managers

Branch Managers

Microsoft Office

NOD32 Anti-Virus

Adobe Reader

System Software:-

Following application software’s are used in our organization and functioning of our information system;

•Operating System (Windows XP and Linux) for PC’s.

•Windows 2003 server for mainframes

Hardware Resources:-

Following hardware resources are required for the functionality of IS and organization:

Personal computers

Canon Document Scanners

HP Printers

Networking cards

Currency counter

Coin counters

HP Digital Scanners

Dell Mainframes

Computing Type:-

In Standard chartered bank, they are using client/server network because it is accessible and the employees easily share the data and this network is cheaper thanothers and this is easily maintainable and manageable. All the data save in main server

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or HUB and employees can easily access it. This type of computing system provides aneasy access and efficient flow of data, which increase the functionality of organization.

Organization transaction processing system:

Transaction Processing System:

A Transaction Processing System (TPS) is a type of information system. TPSs collect, store,modify, and retrieve thetransa ctions of an organization. A transaction is an event that generatesor modifies at a is eventually stored in an information system. From a technical perspective,a Transaction Processing System (or Transaction Processing Monitor) monitors transactionprograms, a special kind of programs. The essence of a transaction program is that it managesdata that must be left in a consistent state.

TPS in Standard chartered bank:

Effective transaction processing system is working in Standard chartered bank that offerenterprise the means to rapidly process transactions to ensure the smooth flow of data and theprogression of processes throughout the enterprise.

Payroll TPS:

In Standard Chartered payroll TPS is designed to get information and record of the employ andthen to calculate his/her annual earning.It get information about the employee from the employee’s department and from general ledgerand send it to payroll TPS from where it links that information with the previous record andprepare a report which is forwarded to management. Management takes notice the “LN” recordof the employee’s efficiency to work and may declare added bonus or other incentive. This reportis checked and approved by the branch manager after which check is issued to the employee.And when that check is cashed, the record is updated in the general ledger as well as the masterpayroll (HUB).

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Customer Identification:

In Standard Chartered bank there is their own information management named software “Virses” is working which is connected to NADRA. So if any new client wants to open an account in the bank the system automatically send a request to NADRA to check and verify the customer ID number. Which helps the management to identify whether he/she is using his original ID card or not.

Employees Record:

All employees are supposed to login when they enter the bank and logout on leaving, by tracing their thumb impressions on biometric device. This device is connected with the HUB which continuously makes record of their hours spent in the bank. Moreover, the bank has their ownsetup named “LN” which makes records of all the transactions made by an employee. This helpmanagement to monitor the working efficiency of an employee.

Real time Banking:

In many circumstances the primary factor is speed. For example, when a customer withdraws asum of money from his or her account the transactions are processed and the account balanceupdated as soon as possible, allowing both the bank and customer to keep track of funds. Thenew transaction is send to LN. The LN enters the HUB where the specified file is accessed. Theupdates are made entered there and finally the update is done.

Online Complains:

Standard Chartered bank allows the customer the option of online complains. The customersubmits the online complain which is then processed by Customer Service TPS which is linkedby management and after the problem identification it is send to the concerned department.

Advices:

As all of the record of the customers are stored in main server (HUB) of Standard Charteredbank, so incase if someone account balance is getting near to zero the system automatically alertthe management about that. Then manager take manual action and send him/her the advice (aletter, mail or phone call) to check the account balance.

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Account Opening

This TPS is designed for opening a new account in the bank.Input: Give bio data, NIC no., income, city name.Process: Information sends to the “virses”.Output: new account opened in the bank

Online Activity

Purpose: Transfer funds with the organization.Input: Concerned Branch code, city name, account title, amount & the transaction.Process: The information will send to organization server (HUB).Output: Transfer of fund to the concerned branch.

ATM Card

Purpose: Easy with draw of cash.Input: Give bio data, income summary, company name, NIC.Process: NIC no. and bio data send to “virses” which directly linked to NADRA. If informationis correct then it is forward to customer service centre.Output: Issue of credit card.

Car Financing

Purpose: Leasing a new car.Input: Account title, down payment amount.Process: The information is send to the HUB and verify the account of customer and make theschedule for leasing for the given period of time.Output: Customer can get a new car.

Management information system:

MIS reports and summarizes the organization’s basic operations and these reports come from the basic transition processing systems. In case of our organization the TPS’s of ATM Cards, Payroll and Customer identification etc. provide the basic information about the organization’s activities. These activities are then summarized in the form of reports for the manager so that they can check whether the firm is working properly or not. If there are some flaws then they take control measures to fix those flaws.

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Classification and Specific Problem:

Underpinning a Risk-Driven Strategy

"The stakes are very high indeed. With our many large and complex interconnections to the outside world, it's vital to carry out effective patch management. Our aim is to achieve the right level of security through implementing an appropriate risk-based strategy. This cannot be achieved without a clear and accurate understanding of what needs patching and ensuring that it remains reliably patched. We use QualysGuard as a dynamic tool to underpin this process." says John Meakin, Group Head of Information Security, Standard Chartered Bank.

"Our aim is to achieve the right level of security on our global networks. This means a clear and accurate understanding of what needs patching and ensuring that it remains reliably patched. We rely upon QualysGuard to underpin this process."

"Being able to report on remediation and response plans has also helped us meet strict financial compliance requirements. Qualys Guard reports give me and my security team an instant overview of the overall level of health of security in my organization." [By John Meakin ]

Standard Charterer’s Need for Vulnerability Management

Security monitoring in an environment like Standard Charterer’s requires the capability to cover diverse IT platforms - including both Windows and Linux - and many applications and services. Its goal was to consolidate these ad-hoc efforts into one cohesive, global process with clear visibility, follow through and accountability.

"It was the only solution which met our demands without compromise, giving us a reliable, centralized method for protecting our critical assets worldwide," says Meakin. "Our experience of rolling out QualysGuard has been remarkably painless. Working with our integration team in both London and Singapore, the service has been consistently high."

The role of Vulnerability Management at Standard Chartered

By introducing vulnerability management, Standard Chartered gained a clear picture of the exposure with common standards worldwide. The company has been able to quickly prioritize remediation; get security and operating teams to work together smoothly and effectively and empowered outsourcing vendors to meet specific security service level agreements.

Many major viruses have the ability to recur and creep insidiously back into the network causing considerable problems; another reason why on-going scanning is important.

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"Regulatory pressures and increased exposure are driving more complex requirements for managing security risks. With this integration we gain the ability to view and act upon security risk as it pertains to our organization’s assets,» said John Meakin. «In addition, being able to report on remediation and response plans has helped us meet strict financial compliance requirements."

Reports Help to Improve Risk Management and to Address Regulatory Requirements

"Regulatory pressures and increased exposure are driving more complex requirements for managing security risk. Our vulnerability management strategy gains us the ability to view and act upon security risk as it pertains to our organization’s assets" said John Meakin.

"The reports also enable me to justify the investments we need and further define our security

strategy. Today, we really can deploy our security manpower much more effectively in both

preparing and responding to security incidents." concludes Meakin

OVERVIEW:

Standard Chartered Bank (Pakistan) Limited is Pakistan's oldest and largest foreign bank with over 150 branches in the country. The history of Standard Chartered in Pakistan dates back to 1863, when the Chartered Bank of India, Australia and China first established its operations in Karachi. In 2006 Standard Chartered Bank acquired Pakistan's Union Bank. On 30 December 2006, Standard Chartered merged Union Bank with its own subsidiary, Standard Chartered Bank (Pakistan), to create Pakistan's sixth largest bank.

History:

Standard Chartered Wholesale Banking builds on over 150 years of banking experience in Asia, Africa and the Middle East. In fact, we’re the only international bank with over 90 per cent profits generated from these areas.

Our excellent local knowledge of attractive growing markets around the world consistently places us in the top three providers for our clients’ wholesale banking needs. Known as ‘The banker’s bank’, we are recognized for our unmatched on-the-ground expertise and relationship-focused approach to business.

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Contact Centre:

Our 24 hour Contact Centre is available to assist you with resolving any problems you might have:

First level Vpay/Visa card resolution First level resolution of personal loan issues

Cheque book and statement requests

Checking account balances/transaction history

Obtaining information on products and services

Feedback and complaint handling

You can reach us either on telephone: +234 1 270 4611-4 or via email.

For Visa enquiries, contact the 24hr hour helpline on: +234 803 535 0944

Conclusion and future work:

CONCLUSION

A management information system is a system or process that provides

the information necessary to manage an organization effectively. MIS and the

information it generates are generally considered essential components of

prudent and reasonable business decisions.

This report discus all the activities that the Management Information System perform in our selected organization “Standard Chartered Bank (Pakistan)”.

The reports starts with the background history of the bank such as when it establish in Pakistan,the branches, pre and post era etc. It explains all the TPS how the transactions are made by thebank, using of these TPS from the new events such as account opening, new allowances etc tothe routine work including cash and payments record, updating of records, payroll and theprocessing of the complaints. These TPS holds all the activities from the manager and employeesto the customers. The report discuses the inbound and the outbound logistics and relate all theprocesses of TPS used in the bank with the MIS, enabling the bank to provide the quality andsatisfactory services to their customers. Also includes the inter relations, of all the entities in thedatabase of the bank. ERD diagram represents all these relations.

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Recommendations:

The reports starts with the background history of the bank such as when it establish in Pakistan,the branches, pre and post era etc. It explains all the TPS how the transactions are made by thebank, using of these TPS from the new events such as account opening, new allowances etc tothe routine work including cash and payments record, updating of records, payroll and theprocessing of the complaints. These TPS holds all the activities from the manager and employeesto the customers. The report discuses the inbound and the outbound logistics and relate all theprocesses of TPS used in the bank with the MIS, enabling the bank to provide the quality andsatisfactory services to their customers. Also includes the inter relations, of all the entities in thedatabase of the bank. ERD diagram represents all these relations.

Limitation:

While preparing the report we had a lot of limitations. Still now we read or learn from books only but in

practical it’s difficult. The difficulties we faced to prepare the report are given below.

We are not experienced so that we faced lot of problems.

Unavailability of lab and electricity problem.

We didn’t get much time to gather huge information about modern technology

SUGGESTION

The bank is using the IS very efficiently and increasing its profitability, but still there are many things that should be improved.

With the increase in the technology, the bank should made its IS up-to-date for

Providing best services to their customers and attracting more customers and

Increasing its productivity.

The security of these systems should be made.

Credit cards system should be improved providing the unique facilities to their

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Customers which the other banks has not yet introduce

References:

Websites:

www.google.com

Others:

Business magazines & Books.

Newspapers

Internet

By the other relevant field Resources.

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