Evaluating factors contributing to the failure of information system in the banking industry

Ali, SM; Hoq, SMN; Bari, ABMM; Kabir, G; Paul, SK

Evaluating factors contributing to the failure of information system in the banking industry

Ali, SM Hoq, SMN Bari, ABMM Kabir, G Paul, SK

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Publisher:: Public Library of Science (PLoS)
Publication Type:: Journal Article
Citation:: PLOS ONE, 2022, 17, (3), pp. e0265674-e0265674
Issue Date:: 2022-03

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Field	Value	Language
dc.contributor.author	Ali, SM
dc.contributor.author	Hoq, SMN
dc.contributor.author	Bari, ABMM
dc.contributor.author	Kabir, G
dc.contributor.author	Paul, SK
dc.date.accessioned	2022-11-17T05:04:44Z
dc.date.available	2022-03-05
dc.date.available	2022-11-17T05:04:44Z
dc.date.issued	2022-03
dc.identifier.citation	PLOS ONE, 2022, 17, (3), pp. e0265674-e0265674
dc.identifier.issn	1932-6203
dc.identifier.issn	1932-6203
dc.identifier.uri	http://hdl.handle.net/10453/163557
dc.description.abstract	<jats:p>The increasing use of Information Technology (IT) has led to many security and other related failures in the banks and other financial institutions in Bangladesh. In this paper, we investigated the factors contributing to the failurein the IT system of the banking industry in Bangladesh. Based on the experts’ opinions and weight on the specified evaluating criteria, an empirical test was conducted using a rough set theory to produce a framework for the IT system failure factors. In this study, an extended approach involving the integration of rough set theory based flexible Failure Mode and Effect Analysis (FMEA) and the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) has beenapplied to help the managers of the corresponding field to identify the factors responsible for the failure of the IT system in the banking industries and then prioritize them accordingly, for the ease of decision-making.In this research, eleven such failure factors were identified, which were then quantitatively analyzed to facilitate managers in crucial decision-making. It was observed that cyber-attack, database hack risks, server failure, network interruption, broadcast data error, and virus effect were the most significant factors for the failure of the IT system. The framework developed in this research can be utilized to assist in efficient decision-makingin other serviceindustries where IT systems play a key role. To the best of the knowledge, this is the first study thatempirically tested key failure factors of the IT system for the banking sector using an integrated method.</jats:p>
dc.format	Electronic-eCollection
dc.language	en
dc.publisher	Public Library of Science (PLoS)
dc.relation.ispartof	PLOS ONE
dc.relation.isbasedon	10.1371/journal.pone.0265674
dc.rights	info:eu-repo/semantics/openAccess
dc.subject.classification	General Science & Technology
dc.subject.mesh	Bangladesh
dc.subject.mesh	Health Services
dc.subject.mesh	Industry
dc.subject.mesh	Information Systems
dc.subject.mesh	Industry
dc.subject.mesh	Information Systems
dc.subject.mesh	Health Services
dc.subject.mesh	Bangladesh
dc.title	Evaluating factors contributing to the failure of information system in the banking industry
dc.type	Journal Article
utslib.citation.volume	17
utslib.location.activity	United States
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Faculty of Business/Management Discipline
utslib.copyright.status	open_access	*
pubs.consider-herdc	true
dc.date.updated	2022-11-17T05:04:40Z
pubs.issue	3
pubs.publication-status	Published
pubs.volume	17
utslib.citation.issue	3

Abstract:

The increasing use of Information Technology (IT) has led to many security and other related failures in the banks and other financial institutions in Bangladesh. In this paper, we investigated the factors contributing to the failurein the IT system of the banking industry in Bangladesh. Based on the experts’ opinions and weight on the specified evaluating criteria, an empirical test was conducted using a rough set theory to produce a framework for the IT system failure factors. In this study, an extended approach involving the integration of rough set theory based flexible Failure Mode and Effect Analysis (FMEA) and the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) has beenapplied to help the managers of the corresponding field to identify the factors responsible for the failure of the IT system in the banking industries and then prioritize them accordingly, for the ease of decision-making.In this research, eleven such failure factors were identified, which were then quantitatively analyzed to facilitate managers in crucial decision-making. It was observed that cyber-attack, database hack risks, server failure, network interruption, broadcast data error, and virus effect were the most significant factors for the failure of the IT system. The framework developed in this research can be utilized to assist in efficient decision-makingin other serviceindustries where IT systems play a key role. To the best of the knowledge, this is the first study thatempirically tested key failure factors of the IT system for the banking sector using an integrated method.

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http://hdl.handle.net/10453/163557