ICT in Banks: Core Services, Workload Types, and Benefits of Cloud Technologies

Running head: ICT IN BANKS
ICT IN BANKS
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ICT IN BANKS
Core business services offered by a bank
Banks usually provide various customers with various services that are financial and
which help individuals in managing their lives. Along with the advancement in technology as
well as competition, banks offer various types of services for staying as well as attracting
numerous customers. Various types of services that are provided by the banks include
individual banking, banks offer a huge variety of services in order to assist individuals in the
process of managing their finances such as savings accounts, debit and credit cards, checking
accounts, insurance and wealth management (Asadi, Nilashi & Husin, 2016). Business
banking is one more service that is provided by banks, most of the banks provide various
services that are financial in nature for numerous business owners who require to differentiate
their personal as well as professional finances. Various types of business banking have
various categories, these include business loans, checking accounts, debit as well as credit
cards, savings accounts, merchant services and treasury services (Awadallah, 2016). Digital
marketing is another important service offered by banks, this services deals with the ability of
managing customers’ finances online from their tablet, computer, and smartphone has
become more vital for customers. Banks provides various services of digital banking which
include various services like online, tablet and mobile banking, mobile check deposit, text
alerts, eStaements, online bill pay and many more (Chatterjee, 2017). One more service
provided by banks include loans, loans are considered as common services provided by
banks, and they are provided them in all the shapes as well as sizes. Some more common type
of loans which banks offer are personal loans, home equity lines of credit, home loans,
business loans and many more.
Banks require privacy as well as security in relation to the businesses carried out by
them because they deal with various user accost that consists of details regarding the users,
some details include names of the account holders, their addresses, account numbers and

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ICT IN BANKS
many more, these data are to be kept secured so that they are secured from the hands of
hackers and many more cyber criminals.
Bank’s needs for ICT workload types
In the traditional system of banking, bank operates on various specified standards
time that was nit convenient for people. For the prospective of banks they need to employ
numerous staffs in order to provide their services. Examples of the way banks utilize ICT
batch workload types include Automated Teller Machine (ATM), banks utilize mainframe
computers for maintaining their accounts of customer with the help of dealing with various
transactions that have been generated as the result of deposits as well as withdrawals (de
Bruin & Floridi, 2017). It operates a network of automated teller machine, the ATMs can be
used for the purpose of withdraw cash, cheque an account balance, order a particular
statement or print a particular mini statement, order a particular cheque book. Banks could
keep their operating codes down due to the fact that fewer employees are required to word
behind the counter in various branches (Hon & Millard, 2016). Customers have around 24
hours of access to the accounts and all the days a week. There is no need of carrying huge
amount of cash around because a large amount of ATMs means that it is available. One more
reason for which banks need ITC workload types include clearing cheques, after a cheque has
been written as well as paid in the bank, clearing begins (Ijaz, Khalid & Abubaker Ijaz,
2017). This describes various steps that are undertaken for the appropriate amount of money
to get transferred from a particular account to another. Processing of cheques are carried out
using MICR.
The transactional workloads are used in numerous scenarios, two of them include a
scenario when a user uses credit cards for making a purchase on a particular website, and it
would result into various transaction on a particular mainframe (Jia, Han & Jiang, 2015). This
results in more than one transactions as well as workload. One more example of a