CFPBUS003 - Introduction to Information Technology

CFPBUS003 -
Introduction to
Information Technology

ABSTRACT
In today's environment, information systems are critical for corporate organisations'
development and sustainability. For the administration of critical information or data, all parts of
the business are completely reliant on them. Digital technologies are used from small enterprises
to huge, strong corporations including such current accounts and government and regional
authorities to manage their information. This report based on the HSBC bank which is using
information system that becomes reason of success and failure.

Contents
ABSTRACT....................................................................................................................................................2
INTRODUCTION...........................................................................................................................................4
LITERATURE REVIEW....................................................................................................................................4
Identify and discuss the role of IT in the success or failure of a business................................................4
Find ethical and social issues associated with running businesses..........................................................5
Identify and differentiate between different types of networking technologies.....................................7
Discuss the latest developments in Artificial Intelligence........................................................................9
Different stages of software development life cycle.............................................................................10
CONCLUSION.............................................................................................................................................12
REFERENCES..............................................................................................................................................13

INTRODUCTION
Information Technology (IT) is a commercial area that works with computer, encompassing
equipment, software, telephones, and whatever else related to the transmission of data or
communication networks. IT encompasses a wide range of activities. Consider, for example, a
business's IT department. There are a lot of individuals with a lot of different jobs and duties.
Such obligations include anything from maintaining the security of applications and networks to
statistical correlation up and operating (Javaid and et.al, 2020). IT has become an integral
commonplace and began to increase into new areas. This report based on the HSBC Holding plc
which is a British multinational investment Bank and financial services holding company. It is
second biggest bank in Europe and founded on 3 March 4865. In this report consist of role of IT
for the success and failure of business, ethical & social issues related with running business.
Along with define various types of network technologies and latest developments in Artificial
intelligence. At the end of the report define various stages of the of software development life
cycle.
LITERATURE REVIEW
Identify and discuss the role of IT in the success or failure of a business
The banking industry plays a critical part in the growth of the UK economy. It had been an
improvement in accessibility, creativity, and effectiveness as a result of the usage of technology.
The banking companies are utilizing technologies in way that benefits its customers and get more
out of fewer. As either a result of growing technology, the banking sector has changed from
journal article and corporate bankers to computerized and networking service industries. Unlike
in the earlier, online communication is affordable, and it enables for easy and speedy information
transfer. New technologies have changed the accounting and strategic processes of all
organizations. The capture, analysis, keeping, and transmission of all kinds of things utilizing
cloud computing and transport infrastructure is referred to as data information. Information
technology systems define in the context for purchasing and growing IT in order to meet policy
priorities. In present time most of the banks are using information technology in their business to
get success in proper manner. There are mentioned benefits of IT in HSBC bank such as:

1. Amongst the most significant benefits of IT approach is that it provides to account and
check credit report records at every moment, from any location. People may access their
account at any time, on any device, on desktop or on smart phone, whenever it is most
comfortable for people.
2. IT is progressively transitioning from a back office function to a key contributor to a
bank's long-term worth. IT achieves this by maximizing banks' effective actions,
including such reinforcing and implementing banks' transportation system in level of
protection, information exchange, and collaboration, attaining inter department
interoperability, transitioning to a Live Data Gva Peace treaty climate, predicting cash
flow by providing strong datasets, and using Magnetic Ink Operation Definition and
Infrastructure technologies for churning (Mandelbaum, 2019).
3. Banking payments are handled almost instantaneously when people are doing internet
banking. For illustration, use a debit card rather than just a check to buy items or
repayments, and the activities will appear on account nearly instantly. These allow more
control over operation scheduling and a clearer, better realistic view of your balance of
payments.
The drawbacks of information technology in HSBC bank that are mentioned below:
1. Security and identity theft concerns: Online banking websites and software devices are
supposed to be safe in general, and banks are constantly updating their security methods.
Unfortunately, no candidate is suitable, and computers may be compromised, leading to
data theft through stolen usernames and passwords. Though they may use cellular or
internet banking with safety in generally, they should prevent using insecure connections
and update credentials and safeguard login credentials (Barraza-Urbina and Glowacka,
2020).
2. Limitations on deposits: Consumers, but notably corporations, may struggle to make
significant deposits online due to daily or weekly wireless transfer limits. Furthermore,
not all inspections can be read by computerized attack vectors. Printed corporate checks
with a dashed circle on the back cover to generate a duplicate mark in an account ledger,
for illustration, may be rejected by the internet cashless transaction, necessitating an on-
site payment.

Find ethical and social issues associated with running businesses
Ethical issues: Ethical concerns in business cover a broad array of topics that fall within a
firm's ethical guidelines. Supporting good reward on honesty and trust are essential ethical
challenges in company, and more complicated concerns encompass accepting variety,
sympathetic judgment, and risk mitigation that is compatible with the institution's basic
principles. Manipulation of creditworthiness, wrongly of commodities, illegal trade, and short-
selling of bank shares were among the ethical difficulties that defined the economic meltdown.
Furthermore, there have always been ethical issues about techniques like market tampering and
influence peddling.
 Discrimination: Discrimination is amongst the most important ethical challenges facing
the corporate sector in 2020. Many companies have been under scrutiny in recent months
for not having a diverse staff, which is sometimes due to racism. Discrimination, on the
other hand, can occur in firms of all sizes. It refers to any activity that leads a worker to
be treated unfairly (Hsieh, 2019).
 Harassment: Harassment, which seems frequently linked to racism and sexism, is the
second significant ethical challenge that businesses are facing. Physical violence, child
exploitation, taunting, racial insults, and bullying are all examples of this. Harassment
can happen from anybody in the organisation, even consumers. If a manager is sensitive
to customer harassing and does nothing to stop it, this is an ethical problem for the
organization.
Social issues: Organizations confront the difficult task of making a profit while still being
socially responsible. Whereas the two notions are not mutually exclusive, company owners are
sometimes forced to either be good community members and earning ends meet. Large
organizations that are made liable to stockholders, as well as single investment firms, make
tough decisions with diverse implications on a regular basis.
Labor: Organizations that are socially conscious provide their employees a good living
salary, provide beneficial effects, and provide workplace safety. Most smaller businesses, on the
other hand, would be unable to exist provided they payed far more subsistence wages, allowed
great employment to workers, and provided health insurance to working parents. Many
corporations seek to move production overseas to 3rd nations in able to preserve customer costs

low and compete effectively. Although many company owners would like to employ local
workers, they cannot always manage to support their doors wide open by satisfying local labor
expectations (Marquis and Koch, 2020).
The government: Many industrial enterprises are protected by the state to ensure that they
do not contaminate groundwater, land, or air. Companies must adhere to these pollution
regulations in order to continue functioning and avoid hefty fines. Corporations, on the other
hand, can bypass these legal restrictions by getting their products manufactured in nations with
less rigorous pollution controls. Businesses frequently wrestle with the cost of operating
businesses vs the socially ethical option of solely hiring non-polluting providers. Nevertheless, in
order to be successful and in company, businesses frequently chose the least expensive
providers, irrespective of their national priorities.
Identify and differentiate between different types of networking technologies
The technique is utilized to transfer data between tiny and huge amounts of data. This
technology may be utilized in both instructional and corporate settings. Network specialists
understand how to set up, configure, and debug network technology, which may be used to
transfer digital data such as music, video, and video files. Users can transmit data over the
network via e-mail or other routes across networks, depending on the needs of the company.
LAN (Local Area Network): Desktop computers and workstation may transfer messages, tools,
and applications thanks to the Local Area Network, which connects network devices. Because
the number of servers connected is restricted, data is transmitted at a very quick rate. LANs are
private networks that span a limited geographical region. It may be used for a variety of
purposes, including business buildings, homes, healthcare, and schools. LANs are simple to set
up and manage. Wired network and cable modems are utilized as a LAN form of
communication. Because it only traverses a limited distance, the inaccuracy and noise are kept to
a minimum. The LAN can be set up in a ring, bus, or star topology.

MAN: The Metropolitan Region Network spans a wider region than a LAN and a limited scale
than like a WAN. It links two or more devices that are located in different places but are
connected through a network. It serves as an ISP and reaches a major position (Internet Service
Provider). A Metropolitan Area Network is difficult to develop and operate (Liu and et.al, 2020).
WAN: Wide Area Network is a computer network that connects several locations across a vast
geographic area. A wide area network (WAN) is a network that connects LANs via cell towers
and radio frequencies. The Wide Area Network or may not be operated by a commercial
company. PSTN or Satellite Link is a broadband internet communication tool. Distortion and
inaccuracy tend to be higher in WANs leading to extensive communication.

Differentiate LAN, WAN and MAN
LAN MAN WAN
The LAN is privately owned. The ownership of a MAN
might be private or public.
Although WAN may not be
controlled by a single
company.
A LAN's transfer rate is quite
fast.
While a MAN's signal strength
is average.
A WAN, on the other hand,
has slow signal strength.
In a LAN, the propagation
latency is minimal.
In a MAN, there is a
significant time delay.
A WAN, on the other hand,
has considerable propagation
latency.
The design and maintenance
of a LAN is simple.
MAN is harder to create and
maintain than LAN.
The design and maintenance
of a WAN is more challenging
than that of a LAN or a MAN.
Discuss the latest developments in Artificial Intelligence
Artificial intelligence (AI), often referred to as computer intelligence, is the subject of
research and development that focuses on creating robots and automation that can parse data
appropriately to deliver desired information, give research, or trigger activities depending on
results. Businesses around the world are investing in training robots to think more like people
using techniques like cognitive computing (Magera, 2019). A new vaccination often takes a long

time, though not generations, to create. However, barely 3 months after the first confirmed
incidents, antiviral drugs to combat covid-19 were already starting human testing by March
2020. Ai technologies assisted researchers in analysing massive volumes of data regarding
corona virus, allowing drug discovery to move at a breakneck pace.
In 2020, automated driving technology advanced further, with the company's main
businesses developing human drivers and launching public robotaxi services in a number of
locations. Computer controlled vehicle, that allows for journeys without either a human safety
operator on committee, will be required for driverless driving's sustainability and
implementation. Though AI is having a significant influence on individuals through the
connected home, it is making an even greater influence in the e-commerce market. As the
marketplace becomes more crowded, personalisation is one of the most effective methods for
merchants to stand out to customers. Banks are also using AI to analyse risks, identify and stop
payment fraud, enhance anti-money launder (AML) operations, and undertake understand (KYC)
regulation inspections in middle-office tasks (Mohammadi, Amini and Arabnia, 2020).
Applied natural language processing: Human language systems improved considerably in 2020
at computing features of life language such as sentiment and intent, generating language that
matches human going to speak and composing regularities, and sometimes even person
regardless, which is the freedom to communicate knowledge around an image thru the
vocabulary. Such natural language systems are enabling better reliable web pages, as well as
more complex robots and google assistant, resulting in improved customer experience and
cultural significance.
Different stages of software development life cycle
The software development life cycle is a well-defined mechanism and it's at the heart of
the creation of each and every software platform. Anyone recognises an issue, analyzes with a
team among like or enthusiastic individuals, and develops a solutions, draughts, discovers
anything, or finds and fixes faults. Each activity became a information to another. They all add
people to a higher commodity that is provided to a consumer. Every phase belongs to a specific
stage (Yates and et.al, 2021).

Planning and requirement analysis: The most significant and required stage of the
SDLC is system design. It is carried out by experienced members of the group with participation
from all parties as well as computer scientists or SMEs in the business. At this point, the product
testing needs are planned for, and also the risks connected with the projects are identified. A
conference only with consumer is arranged by the management consultant and task organiser to
obtain all of the necessary information, such as what the market wants to construct, who would
have been the consumer, and what manufacturer's goal is. A systematic study or quality of a
product is required before it can be created.
Defining requirements: Following the requirements specification, the following step is to
clearly define and describe the required functionality, as well as get acceptance from involved
parties. This is performed using the "SRS"-Software Requirements Analysis documentation, that
covers all of the quality standards that must be built and maintained throughout the life cycle of a
project.
Designing the software: The next step is to compile all of the program organization ’s vision,
analytics, and design information. This stage is the culmination of the previous two, such as user
feedback and requirements collecting.
Developing the project: The major growth based on this level of the SDLC. Writing code is the
first step in putting a design into action. Writers must adhere to their manager's coding rules and
available form like as processors, translators, and debugging are used to create and design the
software (Kabalci and Kabalci, 2019).
Testing: When the software is finished, it is put into the production environment. The system
testing begins evaluating the full system's functioning. It is performed to ensure that the overall
functionalities as expected by the client. QA and screening teams may discover flaws or flaws at
this stage, whereupon they report to programmers. The design team repairs the issue and sends it
back to QA for another round of testing. This procedure is repeated until the programme is
insect, reliable, and meets the system's customer requirements.
Deployment: The final deployment procedure begins once the test automation step is completed
and there are no defects or defects remaining in the platform. The finished programme is

published and tested for distribution faults, if any, regarding the project management's
comments.
Maintenance: Following are the important actions that happen once the platform is launched
and clients begin to use the designed system.
Bug fixing - issues are observed as a result of some circumstances that have not been rigorously
examined.
Augmentation - Introducing certain latest products to the current programme. Upgrades -
Changing the programme to updated models of the programme.
The major goal of this SDLC phase is to guarantee that requirements are met and that the
technology decided to live according to the first phase's specifications (Bhunia and Shit, 2019).
CONCLUSION
As per the above report it has been concluded that Data entry, database management, and
coding are all done by different persons. IT also encompasses information systems, if that
information is in the textual form, speech, picture, audio, or another format. It may also include
aspects of the Internet. Because the Web is its own domain, this offers IT a whole greater
identity. Because IT entails data transport, it's only natural that the Internet would be included.

REFERENCES
Books and Journal