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The various internal and external sources of information and understanding in a bank include the following:
Internal: obtained within the bank itself, by its employees
- Financial: Financial controller/accountants/CFO etc. generally manage the information related to the financial health of the bank, including the profit, business, costs, profit margins, etc.
- Personnel: Human Resources typically keeps the information on personnel, such as joining dates, qualifications, performance history, etc.
- Marketing/sales: Generally, the marketing/sales team provides the data related to sales promotion, likes/dislikes of potential customers, etc. This data can be used to promote or improve products.
- Government: provides regulatory information related to business dealings, tax liabilities, etc. The government is the most reliable source of data.
- Financial business groups: Banks are typically part of the financial business group, where other banks are also members and work together to support a common cause.
- Commercially provided: External agencies, say consulting firms, may be hired to provide certain information on the bank. This may help in preparing strategies for the business. Banks can also buy information, such as new projects launched in a given region, so as to attract the potential loan customers.
- Database and research: Commercially available databases can be bought or research can also be done to gather some information.
Since banks work with money and finances and so many people depend on them, it is imperative that the sources of information are authentic and trust-worthy and that information be used in the best interests of the people/bank.
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