Importance of Information Technology in Banking Sector - Desklib

INTRODUCTION
TO
INFORMATION
TECHNOLOGY

ABSTRACT :
Information technology in the advance world which is becoming as the major part for the
human. The information technology is having the various factors in the company which is
effective & efficient that includes the big data analytic and cloud computing. By this, it leads to
reach more buyers & novel goods can be launched. With the help of IT, the management can
able to take the better decisions & also offers the satisfactory results to its buyers which also
leads to create the strong relationship. Furthermore, companies facing ethical and social issues
also pertaining to the basic information technology that includes the privacy, protection.
Artificial intelligence is having the great role in the company as the task is being taken with the
improved communication.

Table of Contents
ABSTRACT : .............................................................................................................................2
INTRODUCTION...........................................................................................................................4
Literature Review -..........................................................................................................................4
Analysis and discussions ................................................................................................................5
Impact of IT to enhance the operation -......................................................................................5
Ethical & social issues are increasingly becoming significant in the digital world. Identify &
analyse the importance of them to run venture.Literature Review -...........................................7
Ethical Issues - ...........................................................................................................................7
Social issues - ..........................................................................................................................11
Identifying and discussing the impact of computer networks on business -.............................11
Impact of Artificial Intelligence (AI) in enhancing their businesses.......................................13
Analysing different benefits and drawbacks of investing in Information Technology.............15
CONCLUSION .............................................................................................................................17
REFERENCES..............................................................................................................................18

INTRODUCTION
Information technology is the application of computers and telecommunications
equipment to store, retrieve, transmit and manipulate data, often in the context of a business or
other enterprise. Information technology is the bedrock of modern enterprise organizations. The
terms refers to computer systems, software, internet, and other infrastructure that enables an
organization's core capabilities. This also helps in protecting the data and also looking after the
database. It is the information technology that involves the use of networking & other storage
tools in order to exchange all types of electric data(Laraia, 2018). The technology refers to the
skills, process and methods which is being used for the particular production of goods and
services. Information technology plays a major role in bank sector. Here now we are going to
have a look on HSBC bank in terms of IT . HSBC is one of the world's largest banking and
financial services organisation. Its headquartered is situated in London. In March 1865, HSBC
opened its doors for business in Hong Kong. HSBC was born from one simple idea- a local bank
serving international needs. The company provides a variety of international banking and
financial services, including retail and corporate banking, trade, securities, custody, capital
markets, banking and insurance . HSBC holdings operates worldwide. It operates around the
Indo - pacific region of the globe and his acclaimed laurels, growing to become one of the most
trustworthy foreign banks in many countries. This report will evaluate the importance of
information technology in banking sector ,and their impact on business to enhance the operation
of company . This report will also identify the computer networks .
Literature Review -
According to Sharma and Bhagwat (2003) Rajaraman, 2018) evaluated information
systems performance according to operational efficiency of the information system, downtime
and the responsiveness of the system.
Accordingly, Levy et al. (2011) (Kuvandikovich, , 2020)in their study showed that the
alignment between International Journal of Academic Research in Business and Social Sciences
2016, Vol. 6, No. 12 ISSN: 2222-6990 680 information system and strategy, the user-
friendliness and the functionality of the system play an important role in the SME’s performance.
However, the investment in information is limited to supporting operations and transactions.