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Business Process Of The Commonwealth Bank - Assignment

   

Added on  2021-05-31

18 Pages4709 Words67 Views
Data Science and Big Data
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Running head: BUSINESS PROCESS OF THE COMMONWEALTH BANKBUSINESS PROCESS OF THE COMMONWEALTH BANKName of the Student:Name of the University:Author Note:
Business Process Of The Commonwealth Bank - Assignment_1

1BUSINESS PROCESS OF THE COMMONWEALTH BANKTable of ContentsIntroduction......................................................................................................................................2Discussion........................................................................................................................................3Business process:.........................................................................................................................3Development of the business requirements:................................................................................4Determination of the system requirements:.................................................................................6Software and selection of the vendor:.........................................................................................7The ways bank can untilize the technology for the improvisation of the business:....................9Evaluation of the efficiency of the technology implemented:...................................................10Examination of the potential security risks associated with the business process:...................11Guidelines for the mitigation of the security threats:................................................................11Conclusion.....................................................................................................................................12References......................................................................................................................................14
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2BUSINESS PROCESS OF THE COMMONWEALTH BANKIntroductionCommonwealth Bank of Australia is an multinational bank which has its base at Sydney.The bank serves in different countries including Asia, Australia and the United States. The bankhas its service on the various sectors like retail banking, investment banking and the corporatebanking. It also includes itself in the wealth management and provides customized bankingservice to the niche consumers of the bank. The commonwealth bank is the largest financialorganization which has been listed in the security exchange of Australia. Initially the bank wasfounded on 1911, the privatization of the bank happened on 1996.Being one of the ‘big four’ inthe financial market of Australia this bank plays an important role in the business. Apart fromproviding the services to the consumers, the bank has taken some steps in order to expand thebusiness. It has some foreign collaboration with countries like China and the Japan. The goodinternal management policy of the bank has made this bank to hold a place in the top 20 list forthe “Dream Employer”.The main objective of the paper is to make a business report for the client which willdeliver the justification choosing the business process applicable for the expansion of thebusiness for the commonwealth bank. The report will be effective for both the client and thebusiness managers of the bank to make the important business decision and take the business ofthe bank to the next level. In order to understand the business processes, the definition of thebusiness process is stated in the paper. This article has discussed about the selected businessprocess for the bank. The determination and the development of the requirements for theimplementation of the business processes is described in this report. The relevant technologiesthose can be used in this course is also evaluated. Some risks and challenges are associated with
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3BUSINESS PROCESS OF THE COMMONWEALTH BANKthe business implementation plans. In this case the risks and opportunities associated with theselected business process has been discussed. Further recommendations are made in order tomitigate the risks and the for future improvement.DiscussionBusiness process:Business processes is defined as the collected of inter related tasks. The compilation ofthese tasks will give a certain output which will help the organization to achieve the goals. Theinputs of the tasks are based on then different factors and internal processes of the organization.These factors ensures that the outcome of the business process will help to add the values in theservices provided by the organization.There are various kinds of business process exist. The selection of the right businessprocess depends upon the type of the company and the service provided by the company alongwith the organizational goal of that enterprise. The selection of the implementation of thebusiness process needs to be done after evaluating the requirements of the company anddiscussing the matter with the managers and stakeholders of the company.In case of the common wealth bank the selection of the business process depends on thevarious factors and as the bank is a well known organization which provides various services, theselection of the business process for developing and expanding the business is a complex thing. The bank has currently operating in the Australia, United States and some of thecountries in Asia. One of the major objectives of the Commonwealth Bank is to expand thebusiness in more countries in the different continents. In order to do that the rules and regulations
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