Impact of Information Technology on business operations of a HSBC Bank

This report analyzes the impact of information technology on the business operations of HSBC Bank, including its importance in the service sector, ethical and social issues, types of networking technologies used, and the importance of artificial intelligence.

Impact of Information Technology on
business operations of a HSBC Bank
I declare that this project is all my own work and that I have acknowledged all materials used
from the published or unpublished works of other people. All references have been duly
cited.
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ABSTRACT
The advancement of data innovation is vital for everybody's life. It helps to keep up
with expectation for everyday comforts of society. It is an extremely critical apparatus for
business since it gives different perspectives to industry development, for example, cloud
computing, information analytics and so on. This organization development helps in
associating enormous number of client and the board effectively take any choice which is
recipient for their customers. Essentially, IT create an electronic storage gadget which save to
the significant record of organization. The current investigation considers the significance of
information innovation alongside examining social and moral issue that impact IT in setting
of HSBC bank. It additionally focus on artificial intelligence and grid technologies. This help
bank to perform all association task in an ideal way or handle their purchaser records and
gives them banking administrations which give satisfaction to its customers.
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Table of Contents
ABSTRACT..........................................................................................................................................2
1.Introduction........................................................................................................................................4
2. Literature Review ..............................................................................................................................4
2.1 Information Technology and its impact in service sector ...........................................................4
2.2 Ethics and Social Issues of using technology in general...............................................................5
2.3 Networking Technology, different types in general.....................................................................5
2.4 The Artificial Intelligence and its importance in general..............................................................6
3. Analysis and Discussion.....................................................................................................................6
3.1 Impact of Information Technology in the selected business........................................................6
3.2 Ethics and social issues in selected business................................................................................7
3.3 Types of Networking Technologies that used in the selected business ......................................9
3.4 The importance of Artificial Intelligence in the selected business.............................................10
4. Conclusions......................................................................................................................................11
5.References .......................................................................................................................................12
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1.Introduction
Information Technology refers to innovation in software hardware and other computer
devices. It determine to manage data in form of audio visual and text or many other forms. IT
plays a most important role in corporate world. In corporate sector there are many business
who are highly connected with IT sector regarding various media. This computer device
assist to keep information secure of a customer. This can build a strong relationship with
clients. Most of person are working with business and focus on to accomplish their desire
technologically(Alhashmi And et.al., 2020). In this report HSBC bank considers, it is a
British multinational investment bank and company holding financial services also,
headquarters London, England, UK. This report is based on impacts of IT in service sector,
Importance of ethical and social affairs, discuss various kinds of computer networks and its
implication on industry, define artificial intelligence influence on business.
2. Literature Review
2.1 Information Technology and its impact in service sector
According to Attaran- “ Information Technology is characterizes as the potential that
can present industry through application programming, network of computers, media
transmission for giving data and individual information." Basically IT creates an impact on
continuous activities of an association. It assist in organized service areas as far as both
customer and worker. Information Technology assumes an extremely huge part in business
through giving basic access on internet by means of cellphones, keep a nearby connection
with customers, self service system helps clients to convey access on their records/actually
take a look at balance/cash transfer. It gives worldwide reach to its likely customers, this
assistance can be amplify living of clients across the globe. It decreases service cost of
organisation by supplant less skill individual in cutting edge work area occupations.
2.2 Ethics and Social Issues of using technology in general
Information system creates a lot of ethical issues related with people ans society
because they generate huge opportunities for social change such as system and life quality,
control on accountability(Allen, 2017). Obligations on property rights. In a society, technical
ethics is a interdisciplinary area that focus on moral and ethical issues like job displacement,
health problems and gender. It is focus on deciding moral utilization of innovation in world,
techno-ethic determines a wide extent of these qualities around innovation for centre on
specific fields affecting working of experts in world of innovation. Such issues
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characterizing role and significance of IT in daily existence of a person. The importance of
these issues are rising step by step which is colossally focused around privileges that another
individual can't utilize the site page. The misuse of information and loss of data is considered
as a moral affair which forbids to other client to get to the innovation so that outcome come
up in loss of data. The network safety helps in dealing with the protection of knowledgable
information through secret word that goes under friendly issues. It is difficult in taking care
of because of production of specific contentions in innovation.
2.3 Networking Technology, different types in general
A network technology permits business and institution to deliver information through
online media(Antonelli, 2019). This data can be transmits in between two or more computers
and usage of connection medium such as wires and cables. The network enrichment usually
involves requirement of organisational information for evaluating cost. Following are major
kinds of technology grid:
 LAN(Local Area Network)- This grid refer to utilisation of various system
electronically such as mobile phones, computers and laptops. It is connected in a very
small range (100m to 10km).
 MAN(Metropolitan Area Network)- A network area where LAN are
connected jointly through various device of network, It covers small area of WAN
and large area of LAN.
 WAN( Wide Area Network)- This network provide high speed to its potential
clients and it is quite expensive. It is connect various networking devices which is
called as route.
 PAN( Personal Area Network)- It determines a area of grid where people are
closely connect with computer devices and transmit data through ultra-wideband,
cellphone headset, scanner etc. It can connected typically less than 30 ft.
 VPN( Virtual Private Network)- It refers to public networking that can
connected from sender to receiver (Borges And et.al., 2021). This connectivity aids to
assure important information is transmitted safely. It reduce traffic and allow
individual for accomplish task remotely.
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2.4 The Artificial Intelligence and its importance in general
AI is the basic of human intelligence through creation of different application and
software (Erol and Kurt, 2017). Intelligence machine create an impact on everyone's lives
and improve efficiencies. This process involves self enhancement, learning, gaining
knowledge etc. It create innovation in workplace and takes repetitive work. It involves
creativity and trust among others. Artificial intelligence work on a wide range that evaluating
potential of smart machines and attaining desired goal as it is required for human intelligence.
3. Analysis and Discussion
3.1 Impact of Information Technology in the selected business
It refers to accomplish task through digital media. It gives internet tools that help in
boosting business economy and generating revenue. There are many technology which can
developed with a continuity and helps in utilisation of resources effectively and efficiently. IT
gives a very easier path to connect huge number of customer in business. It aids to HSBC
bank for increasing business growth and productivity. The main necessity of bank is to keep
update with information it helps to make simple deal with clients and satisfy them by deliver
all the necessary information digitally. It creates a lot of implication on service sector which
are as follows:
 Automatic business process: This can influence organisational activities, by
improving workflows and enhancing working capabilities of HSBC bank by help of
Information Technology. It save resource and time and reducing operation revenue of
organisation. It also help to accomplish other task by which operational work conduct
smoothly. It create an ease to customer for acquiring information.
 Improving Innovation: Every company trying to brings up new technology
invention in a business by which activities is attain in smooth or creative manner
(Haftu, 2019). It aids diminishes all fraudulent activities with in organisation and
improving field of network. HSBC bank providing opportunities for conducting
financial and investment transaction with other transfers. A bank employees have a
capability to completed task look forward and work accordingly. With high presence
of network technology across world delivering better service to its customer regarding
to completion of investment activities.
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 Secure information: It is very important aspect in banking sector to protect data of
its customer. If information of clients is not safe they it can create impact on trust.
Every service sector allocate huge number of consumer data related to its details. It is
very important in HSBC bank as it keep safe all necessary information of customers.
 Build customer satisfaction level: A satisfied customer is a large competitor for
banks and it gives a great response to service provider which helps to increase growth
of industry (Lee And et.al., 2018). HSBC bank are highly engaged with their
customer, it identify client problem and try to solve them through various modes of
communication. This tool may increase experience of consumer.
 Handling necessary resources: It plays a significant role in banking industry as
sometimes challenges and people create conflicts ,so , managing of them is important.
Banking can run only through individual, they represent themselves as a customer or
an employee. Every service sector consist various resources like production,operation,
marketing, sales, HR and so on. In HSBC bank employee help to increase efficiency
in resources as they can mange all financial activities through technologies.
3.2 Ethics and social issues in selected business
These affair are very essential in every industry as every business want to increase its
reputation in marketplace. Banking sector enhancing customer experience by providing better
services, this will assist in increase income. The brand reputation may engage ethically
focused customer. Following are essential of these affair in virtual world:
Social Issues
 Fraud Image : This affair may arise when any person add to take assets from
banking institution (Norouzi, Majidi and Movaghar, 2018). This may build an identity
of theft. Its a major issue which can occur through electronic devices . In case of
HSBC, its secure information of their existing as well as new clients. Several times
bank conducts huge number of programs that help staff as well as employees to give
donation for charity. Thus, this aids to build positive image.
 Online Banking: It is most important tool in banking sector as it operates financial
activities in a fast manner, HSBC bank plays a significant role in service sector field
as it is a key of online security key that is generate one time password application, it
feel safe to client in terms of fraudulent activities. Sometimes due to hacking clients
information it will create negative impact on bank and consider as social issue.
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 Lack of communication: IN this virtual world, most of activities are done through
online media. Individual are connected through computer system, cellphones,
laptops(Roy And et.al.,2021). Sometimes it may create a drawback in effective
communication due to poor range of network. HSBC bank connect through post or
online media, it face a lot of issue with server. It cannot highly engage with its
customer, so this affect company image as well as increasing risk in terms of financial
resources.
Ethical Issues
 Negative action: It consider as a ethical issue in banking industry. Employee works
for its personal growth and enhance organisation upbringing. Information
Technology gives a facility to use own operating devices and build a network
connection with each other. From last three decades, HSBC pays fine due to lack of
supervision and money laundering case. It generate a adverse effect on company
image.
 Collaborating rights: This can create a high presence in financial sector as banking
services conduct with new innovation of technology. HSBC bank highly focus on
fund transfer and increasing this issue for various service agencies, institution and
government. Bank granting various services to its customer through online banking
due to which sometimes they face a lot of issues, error within working process and
clients feels that their data may not be secure.
 Encourage transparency: This can enhance bank interest by providing better
services to public and plan an activities to raised and reduce financial conflicts
(Santisteban and Mauricio, 2017). This helps in building transparency. It main
objective is to bring effective connection between HSBC bank and their stakeholders,
reducing conflicts and providing better policy within marketplace. With the help of
customer support and healthy relation, it brings transparency, secure independence
and policy effectiveness in business.
3.3 Types of Networking Technologies that used in the selected business
Network technology consider usage of information system through handle and
provide online resources by help of computer grid(Sirisomboonsuk And et.al., 2018). It is a
sector which beliefs on continuous changes with technology. It help to learn the real world. A
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computer network defines various device of computers that providing several resources
through network channel. It enhancing a positive and effective connection with customers. IT
involves wires, hubs, switches to create a connection between devices. Following are some
grid technologies that can use by HSBC bank.
 LAN: This refer to local area network, It is a most frequent and common server. IT
can attached various group of computers around on small distance. This technology
used by HSBC bank which aids to reduce cost and increase profit and also it is easily
build up by conducting digital services.
 MAN: This is Metropolitan Area Network. It is spread over a vast area, and it is
larger than LAN and smaller than WAN. This can be access by various service sector.
In this case, ownership can be manage by an individual or business. In HSBC bank, it
helps in connection a link between several computers by which mails can easily
deliver with a less cost. Basically this delivers a bank security.
 WAN: It is Wide Area Network and considers a low voltage device that can
connected virtually with each other. It can connecting huge number of computers
across globe and handle by several user. In HSBC bank, it plays a key role by
attracting a lot of customer across world. With assist of digital technology bank can
handle or secure all necessary data of clients.
 PAN: It determine Personal Area Network, it is a smallest kind of modem that can
made up of phone, tablets , printers and working around on one building (Torten,
Reaiche and Boyle, 2018). It can handle by single person, staff members of Bank,
can do work by their home and easily achieving task. With the help of this, individual
can connect with their client easily at any time or any area and providing certain
services to them.
 VPN: It consider as a Virtual Private Network, It can be access when private network
may extend. It can deliver message from sender to its receiver. In HSBC Bank, if any
person conducting work from home, so it is beneficial for them, because it can access
private network remotely.
3.4 The importance of Artificial Intelligence in the selected business
Artificial intelligence plays a signifiant role in every sector and it can operate through
various electronic machines in comparison to humans(Wang, Qi, and Qian, 2019). It can
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easily fin out way to solve customer problem. In general, it works automatically and grasp
new information without taking people help. There are several essential of AI in service
sector some of them are discuss below:
 Time saving: This term affect reliability in workplace. Employee can easily
accomplish task without any complications, and it can notified with a certain specified
task that consumes less time with help of artificial intelligence. It can evaluate of
acquire large data frequently and taking a strong beneficial decision related to
business within a second.
 Builds company image : It helps to provide an excellent experience to its clients
through AI. It helps to analyse vast data in a effective way. In this virtual world, task
can completed easily in comparison to human, they need not require people for
accomplish assigned task. Due to this, staff are more concerned about accomplish
other new task which help in boost productivity of HSBC bank.
 Reducing errors: AI help in decreasing error within industry. Due to this, work can
operate on a smooth manner, It can handle customer records in a given time. In HSBC
bank, it can decrease errors in future assumptions related to cash flows and increase
Bank growth by developing more profit.
Benefits and Limitation of IT in service sector
 Increasing economy: information technology help to engage customer across world
through various network technologies. So it brings advantage for banking for
increasing business economy on a large scale(Wirtz, Weyerer and Geyer,
2019).Because they reach to provide better service to its customer.
 Fund Transfer: There are several small business entrepreneur who have various
bank accounts like company and saving account etc. So, they need to transfer funds
from one place to another. thus, this can be done quickly through information
technology , it can create positive impact on industry.
 Security Theft: This may consider disadvantage for a bank, as net banking sites are
designed to putting security in workplace (Zhang And et.al., 2019). But, sometimes
customer account can be hacked and result occur in theft image by losing login
credentials.
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 Convenient but not always fast: It consider drawback of IT, because sometime
digital banking granting convenience in terms of depositing money, but work slowly
due to network issue, it may feel customer frustrated.
4. Conclusions
From above report, it is conclude that new developing technology helps service
industry in many ways and generate a high impact toward its growth ang reputation. It aids to
maintain all the necessary document and information of a potential customer. It make sure
that necessary data may be secure within business and diminish all fraudulent activities. The
above essay is focused on IT effect on HSBC bank with help of several grid technologies,
artificial intelligence, social and ethical affair. These all factor help to strengthen industry
reputation and attracting a lot of clients.
5.References
Books and Journals
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artificial intelligence implementation in the health care sector. In The International
Conference on Artificial Intelligence and Computer Vision (pp. 37-49). Springer,
Cham.
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Allen, J.P., 2017. Technology and inequality: concentrated wealth in a digital world.
Springer.
Antonelli, C., 2019. New Information Technology and Localized Technological Change in
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Borges, A.F. And et.al., 2021. The strategic use of artificial intelligence in the digital era:
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