Importance of Information Technology in HSBC Bank UK

INTRODUCTION TO
INFORMATION
TECHNOLOGY
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ABSTRACT
The entrance of technology in the world has changed the living standards of the society
people. Every corner, each place is filled with the presence of technology and acts as an essential
factor especially for the businesses. The companies that does not applies technology generally
fails in their businesses or faces the situation of bankruptcy. The present report mentions the
information technology importance along with various social and ethical issues at HSBC bank in
UK. The bank performs its actions completely with the involvement of technology such as
maintenance of customer records, their banking transactions, providing financial services to
customers and many more. The report focuses upon the use of information technology by HSBC
Bank in its operations along with the impact of Artificial Intelligence.
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Table of Contents
ABSTRACT.....................................................................................................................................2
INTRODUCTION ..........................................................................................................................4
LITERATURE REVIEW ...............................................................................................................4
Discuss the impact of IT in helping businesses to enhance their operations..............................4
The importance of ethical and social issues, that are increasingly becoming significant in the
virtual world................................................................................................................................4
Identify & discuss different types of computer network with their impact on businesses.........5
Impact of Artificial Intelligence in enhancing the business........................................................5
ANALYSIS AND DISCUSSION...................................................................................................6
Discuss the impact of IT in helping businesses to enhance their operations..............................6
The importance of ethical and social issues, that are increasingly becoming significant in the
virtual world................................................................................................................................7
Identifying & discussing different types of computer network with their impact on businesses
.....................................................................................................................................................8
Impact of Artificial Intelligence in enhancing the business........................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................12
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INTRODUCTION
The information technology denotes to the concept of computer and the various networks
which makes the work easier and faster. The technology is backed by the feature of providing
different facilities such as developing & monitoring the database, providing complete safety to
any information or data, etc. The information technology is something which is present
everywhere and is highly used in businesses whether any company or a bank (Barton and
Pöppelbuß, 2021). The HSBC Bank is a multinational bank being headquartered in London, UK
which stands for Hong Kong Shanghai Banking Corporation. The HSBC bank has an
international presence as well as smooth functioning through the involvement of information
technology in its actions. The bank offers investment markets and banking, corporate banking,
private banking, e-commerce potential, financial services to the individual customers and many
more. This is smoothly done by the connection of computer networks which has shorten the
distance within the financial transactions as well as the time limit for the transfer of funds in
seconds instead for months or some years across the boarder.
LITERATURE REVIEW
Discuss the impact of IT in helping businesses to enhance their operations
According to Steven Scheck 2021, there are various impact of information technology
upon the operations of business such as now a days the businesses are heading towards the
adoption of cloud computing as this provides huge efficiency within the operations of
companies. The enhancement of automation in technology bring high efficiency in the workflow
of companies especially banks, etc. The system of information technology permits companies to
develop individual reports faster & easily for having various managerial decision makings. Other
potential of computerized accounting systems which is highly used in banks comprises of
Improved Accuracy, Increased Functionality, Better External Reporting as well as the Faster
Processing.
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