Introduction to Information Technology - Hsbc

Added on -2021-02-21

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Introduction to information technology
Table of ContentsINTRODUCTION...........................................................................................................................2LITERATURE REVIEW................................................................................................................2Analysis and Discussion..................................................................................................................5CONCLUSION..............................................................................................................................101Morgan, T.R.,and et.al., 2016
INTRODUCTIONInformation technology is a use of computer for the generation of the awareness of theuse of internet for the means of development and working of the banks safeguarding theinformation which is carried out. Information technology is a tool for the generation which aimsfor providing a sustainable development of the organisation through information technology.Hsbc is a British multinational bank which have an asset of $2.558 trillion. It wasestablished in year 1866 with the aim to provide a bank to the locals in Hong kong. It ispresently established in London.This report include a literature review about the use of information technology with the,understanding computer technology, issues related to technology, types pf networking system. LITERATURE REVIEWAs per thye view of(Sharma, L., and et.al., 2016)The 21st century will bring about all the embracing convergence of the computer, communication, information and knowledge. This will the way we look at things. The groeth of high speed network will fall the computing power as thenew applications are being invented in the this era. Video, data, images and music has become very easy to share with the people across the country within the time limit of some micro seconds. This change in technology has also changed the bank's work from paper and branch work to digital work. Nowadays, all the banks whether they are private bank or public bank, have adopted the digital work policy so that they can do their work in effective and efficient way(Cui and et.al., 2015). I this new era, banks are providing us with digital network chain which helps both the customer and bank employer to finish their work fast and have the correct and accurate information about their account and its activities. The digital marketing has changed theaccounting standards of the banks in a lot of way. All the accounting work is now digitalized andthe chances of mistake has been reduced a lot. The internal system of bank has been changed completely and it is many benefits to the banks. The opening of new accounts in banks has also became digitalized and customer can open his/her new bank account just by sitting at their homes(Dutta and et.al., 2015). They don't even have to visit the bank once for the opening of new account and documentation process. All of these formalities can be filled through the google docs which is a new application for doing the digital marketing effectively(Passey and Samways, 2016). The banks are fundamentally changing its devilry system with its customers. The problems faced by the banking industries in this process are that they are finding technical 2Morgan, T.R.,and et.al., 2016
solution issues with the changes in rapidly changing environment. Banks with the ability to invest and interegate information technology will became dominant in highly competitive global market. Bankers thinks that doing investment in IT sector will be critical and non profitable for the banking industries because they changes a lot with change in time and technologies and if theinvestment wi8ll be done, there are some chances that they will face loss in their investments if the technology becomes outdated. The potential and consequences in banking sector policies are enormous. Because of the new technologies the work has became easy for both the customers and banks(Sittig and et.al., 2015). They can enjoy the following benefits – self inquiry facility, remote banking, anytime banking, telemarking and electronic banking. As information is centralized and updates are available simultaneously at all the places, single window services becomes possible, leading to effective reduction in waiting time. During the last decade banks has applied for the back and front office task to IT. They also demanded for great number of newproducts from IT. The biggest advantage banking industries got from this initiative was availability of range of inquiry facilities , assisting the banks in business development and followups(Liu..... and et.al., 2016).According to(Cui and et.al., 2015)Empirical research since 1990 says that banks were not interested in their own environmental situations or f their clients. But nowadays, banks shows interest in the the environmental, investments funds, loans, green banking, global banking, rural banking and ethical banking. Earlier the work of bank was only to keep money of their clients secured with them, but now the global market has changed completely. Now the banks provides all these facilities to its customers which benefits both the banks and their clients. In social banksthe focus is on satisfying the current and existing need of the real economy and society. The banks also focuses in accounting the social cultural, ecological and economic sustainability of their clients. At the time of repercussion of crises, many customers agreed that social banking is more efficient and effective than the traditional and mainstream banking. It was assumed that thesocial banking provides many important lessons and learnings to the banking industries, their clients and other financial sectors to avoid crises in the future. According to the institute of socialbanking “ Social banking describes the provision of banking and financial services that consequently pursue as their main objective, a positive contribution to all potential of human beings to develop today and future”. Whereas in ethical issues the co operative banks (UK) 3Morgan, T.R.,and et.al., 2016

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