The Role of Information Technology in Growth and Extension of Business cycles
Journal Title: Journal of Science and today’s world - Year 2014, Vol 3, Issue 2
Abstract
Information technology (IT) had a great impact on the recent crisis of world economic growth in 2007 and has very real impact in most of industries and in all aspect of economy. The challenges created by the Basel reform in the field of information technology (IT) systems are tremendous. Of course, the magnitude of the efforts and investments that will have to be made by banks will depend on their current developments in riskmeasurement and risk-monitoring tools. However, even more advanced banks will need to make significant adaptations because an important part of the data necessary for Basel 2, are not currently available in their systems. Basel 2 imposes ways to value certain kinds of credit risk mitigate that are different from the methods currently in use. The main IT challenge is in increasing the quality, auditability, consistency, and transparency of current data. There will also need to be a better sharing and reconciliation of information between a bank’s finance and risk management functions.
Authors and Affiliations
Ali Hassanzadeh, Ahmad agha Kardan, Pouya Baghdadi, Reyhane Varjini
Keywords
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