An innovative approach to banking information technology: an IDEF analysis

This research paper attempts to accomplish a comprehensive investigation on Banks in particular and financial institutions in general which take far-reaching advantage of information technology however, these financial institutions are risk-avoiding and reluctant to innovative information technology adaptation. Therefore, they are sluggish to accept new technological innovations for implementation in financial systems. This research paper discovers how the IEDF model of object oriented investigation and design can be utilized to strengthen, secure, faster and smoothing the financial institutions and banking by utilizing information technology. In addition, similarities and resemblances are recognized among the diverse financial instruments which are utilized by financial intuitions &banks and then to explore these comparisons in a proposal for an object oriented approach to banking information Technology. This study shows how this transition can be utilized flawlessly for adopting the new information technology in financial intuitions and its vital modules at a minimum business risk.