Bank in a box

With the growth of the Internet in recent years, financial institutions have been scrambling to get their businesses online. This article examines some of the issues and problems surrounding the creation of financial portals, and offers suggestions on managing e-projects more efficiently. Banks should focus on the needs of their customers, and pay special attention to the requirements phrase in order to avoid the biggest pitfall in creating online products: poorly defined deliverables. Mapping financial product development to the project management process will increase the likelihood that projects will meet their intended business objectives. Among other important issues to consider are the expectations of people within the organizational culture, legal and regulatory hurdles, security and privacy, and how the various business processes interrelate.
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