Role of Information Technology in Metro Bank: Significance of Internet and Intranet

This report discusses the role of information technology in the success of Metro Bank, focusing on the significance of internet and intranet in business operations. It also explores different networking techniques and the phases of the system development cycle. The report highlights the impact of technological advancements on the banking industry and the ethical and societal issues related to IT.

METRO BANK
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Table of Contents
INTRODUCTION...........................................................................................................................3
Difference between differ kind of networking techniques..........................................................6
Description on the significance of internet and intranet in business...........................................7
Explain on different phase of system development cycle............................................................8
Analysis & Discussion.................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
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INTRODUCTION
Information technology refer as to undertake improvement, fix, use of computer software,
networks and systems (Zaqout, Abu-Naser and Al Shobaki, 2018). This is defined as designed
and execution of computer system for information communication and processing. Therefore, IT
involves installing, organizing and to keep maintenance of computer system. This is considered
to be the subset of the information and communication technology.
The present report is based on business activities of role of IT on Metro bank, this is
enterprise that deals in services as current accounts, business bank accounts, overdraft and credit
card facilities etc.
Furthermore, study will laid emphasise on activities as role of IT in occurrence and non-
achievement of the enterprise, moral and societal issues that pertains to running business
activities, identification on varied kinds of networking techniques. Lastly, report will look over
to discuss the significance of internet and intranet.
Role of IT in success of enterprise.
Effective information technology defined as to enhance productivity and allow firms to
better business decision making and provide ease in company expansion into the new territories.
IT allows business to take better and improved decision (Oláh, Karmazin and Popp, 2018 ). The
main role of IT is that this allows fiscal mediator to ambit geographically distant and wide-
ranging markets. However, technical advancement has plays greater duty in working of finance
institution and the work provided by them. Thus, the shift of the traditional banking towards to e-
banking is continually ever-changing the expectation of customers.
So, this can be stated that internet has importantly influenced the channels of delivery of
the banking institutions. Banking industry are aware of the need and wants of the customers.
Thus, IT has enhanced the level of rivalry and forced them to incorporate the new technological
advancement so that satisfaction level of the customer can be accomplished. Thus, bank gains the
vital competitive advancement with help of having the direct marketing and accountable
customer service environment that aids to efficient the enterprise. So, it can be stated that the
technology has crucial impacts on the business operations.
As per the view of ShobakiMalee and et.al., (2018) stated that technology is one of
effective medium that aids to defend the financial data, confidential enforcement decision and
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other information leads to gain competitive advancement. In contrary to ShobakiMalee and et.al.,
(2018) stated that new devices life smart phones, tablet, computer s and media application helps
to enterprise to communicate with colleagues and customer at all around the world. Banking
environment is high competitive within the today's market scenario. To cope up with the working
of changing market environment banking industries are adapting latest technologies. This is
effective in developing learners and to build more flexible structure that respond quick to
dynamic of fast changing market scenario. Advancement in technologies offers the customer the
facilities as to view their accounts, get statement of accounts, purchase draft and transfer funds
from one account to another. Technology also offers the substantial advancement for enterprises
when it comes to the information storage and analysis. IT offer firm to gain more productivity
and this allows firm to do more work with help of few workers and this leads to reduce the
payroll cost of the employees.
In contrary to Ahmed and et.al., (2018) stated that technological advancement leads to
understand the business needs of preserve resources and cash flow such as time and physical
space. These are the beneficial aspect that creates team dynamics within business at differ
location and have better interaction within the employees. In the backing sector, techniques has
vital role as this can be used to defend the financial information, private executive decision and
other crucial information that leads to gain advancement within the enterprise. Thus,
technological is very helpful for the businesses to keep their ideas away from the competition.
Thus, the use of internet helps the business to virtually travel within the new markets and to
provide the effective information that leads to gain competitive advancement within the
enterprise.
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Illustration 1: Modern banking system
(Source:Role of Information Technology (IT) in the Banking Sector. 2019. )
The modern banking facilities do not only relay on branch network alone. In present
scenario, the customers are more demanding new deliver system as internet baking. It has dual
role to the customers. Technical advancement has reduce the service delivery cost and allows
financial institution to automate the routine customer inquiries with the use of self service
channels (Chae, Koh and Park, 2018). With the use of better technical advancement the banking
sector can carry out their business activities effectively and efficiently. Lastly, it can be stated
that the firm can take the advancement of these techniques to enhance the profitability,
streamline the business process and open up to the new markets.
Moral and societal issues that pertaining to running business
In the present business environment, entity have the responsibility to develop codes of
conduct and ethics that each member of the enterprise must be abide by put this into the action.
As per the view of Benitez, Ray and Henseler, (2018) stated that the ethical issues within the
information technology is mainly based on plagiarism, hacking, data access in rights and
ergonomic and health issues are the most identified possible moral issues related to IT.
Therefore, ethical issues are defined in following manner as are-
Cyber crime- The most of the individual in present scenario are based on widespread nature of
social media in employee conduct. It ranges from simply annoying computer users to huge
financial losses and even the loss of human life. Additionally, the growth in the use of high
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advanced mobile phones has enhanced the approach to the net and this also add to the
development of cybercrimes.
Information security system- The security system is not that much effective in computer
system, software or hardware. Under this, threat can be caused as the viruses can be eliminated
and impact can be reduced with the use if Anti virus software. Additionally. The unauthorized
access to the information can impact the all over working of the enterprise in the huge aspect.
Thus, another ethical issues in use of IT in baking sector is to data loss, there are number of the
enterprise that support backups of the data at the distant places. If the machinery and
technological advancement caught fire then data can be damaged.
Information system ethics- Morals is defined as rules that defined the difference between what
right and wrong that individual make the choice to guide the behaviours of the individuals.
Therefore, ethics in MIS seeks to protect and safeguard the individuals and society by use of
information system responsibly. Thus, code of ethics makes individuals acting free and that will
be answerable and responsible for their actions.
Therefore, this can be stated that the ethics, political and social issues are interlinked to
each other. With development in technologies and capabilities of security the employers of the
enterprise can able to monitor the activities of their employees on their computers and other firm
provided electronic devices. As per the view of Long, (2018) stated that employees of the
enterprise must look over the privacy policy to see that how they are being monitored and that
indicates the record of their job performance.
Difference between differ kind of networking techniques.
There are various kind of computer networking system are used for communication
system all around the world. Henceforth, the most of the common types of the network are as
LAN, MAN and WAN. The network allows computers to connect and communicate with
different computers with the use of any medium. Thus, banking sector must implement the
suitable network on the basis of their suitability of the enterprise. Henceforth, these are
differentiated in the following manner as are-
Local area network- This is networking techniques that is build and constructed for small
geographical areas within the range of 1 to 5 kilometres. It is the technological advancement that
is mainly uses in schools, offices, small industries and colleges etc. This is extensively used to
design and troubleshoot.
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As per the view of ShobakiMalee and et.al., (2018) stated that the communication
medium used for LAN is as twisted pair and coaxial cables. This is one of the effective
technological advancement that covers the short distance, this aids to reduce the errors and noise
are minimized. This is defined as broadcast network in which message is sent to the all
connected host and this also allows to share the same transmission medium. In addition to this, it
can be said that the host are offered with definite time slice for transmitting the information.
Metropolitan area network- This is defined as one of the most ways for enterprise to build this
kind of network to use microwave transmission techniques. It covers the large area than the LAN
and smaller area as compare to the WAN. This connects to the geographical areas that may serve
within the internet service provider. Thus, it is also costly and owned by the single organisation.
It data transfer rate is also moderate.
Wide Area Network- This is defined as the computer network that spans over the large
geographical area. Additionally, this is complex in the nature and this is also widely used in
mobile communication. Routers are used in WAN network for the communication over the long
distance with help of using the routing tables. Additionally, different kind of data need to be
transmitted over the network as image, voice, video and data files. As per the view of
ShobakiMalee and et.al., (2018) stated that this may be or not be privately owned. Thus, one of
the common issues that faced here is related with the propagation delay.
Description on the significance of internet and intranet in business.
Company wide intranet is defined as one of the crucial focal point of internal
communication and collaboration that can provide business with single starting point to access
both internal and external resources. In addition to this, larger business allows users within the
intranet to access the public internet with help of firewall servers. Thus, the uses and its
importance of internet and intranet defined in following context as-
Internet- It has replaced many traditional forms of business communication with use of website
and digital media to share information with one another. As per the view of ShobakiMalee and
et.al., (2018) stated that this defined as the interconnected network that use standard internet
protocol to kink service devices worldwide. Therefore, the main reason for its execution of this
tool to transit data within the business enterprise as are-
 It is spread over 65 countries.
 There is no regulatory authority for internet and no one allow to access it.
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 This provides the variety of service as are file transfer, electronic mail, real time
broadcasting and information resources etc.
Intranet- It is termed out as private, secure network that mainly used to share information
effectively within the enterprise. Thus, the main goal of intranet is to bring ease in
communication, document sharing and collaboration for people within the enterprise. As per the
view of Chae, Koh and Park, (2018) stated that this also provides virtual space for employees
to work together. Henceforth, this optimize the existing business process to centralize
information with help of reducing complexity and maximise productivity. Henceforth, businesses
can use intranet for variety of reasons as are-
 It aids to streamlines the day to day activities with help of making the repetitive task
easier to complete.
 This is one of the effective term that leads to improve internal communication with
employee directors and organisation charts.
 It leads to provide easy assess to crucial information that is inclusive of policies, benefits
and company updates.
 The one of the beneficial aspect of it is aids to centralize and arrange firm data into single
database.
Explain on different phase of system development cycle.
System development cycle is defined as conceptual model that used in project
management and it also defines the different stages involved in information system development.
It is very as this support to alleviate the complexity of developing system information system
within the framework of structured phase. It provides shapes to working of the enterprise and
allows to conduct business activities effectively. Therefore, different stages are defined in
following manner as are-
 Planning- At this phase, the entity can take initiatives to create successful system. Thus,
issues, goals and cost of the resources all must be defined. After analysing the data there
are three choices as to develop a new system, to improve the current system and leave the
system (Chae, Koh and Park, 2018).
 Analysis- The end user requirement must be determined and documented. Thus,
feasibility study is based in determining its organisationally, socially and technologically
feasibility. This is very crucial to maintain the strong communication.
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 System design- It is stage that defines the elements of system as components, security
level and different interface etc. This can aids to meet the all functional and technical
requirements logically and physically.
 Implementation- It comber after the understanding of the system needs and specification.
This is stage that can be called as construction stage after having completed and
illustrated design for the requested system.
 System training and integration- This is crucial to check out the effectiveness of
implemented system to ensure about the customer satisfaction. Henceforth, testing can be
performed by the real users, team of the specialised person etc.
 System maintenance- In this, periodical care for the system will be carried out to make
the system more effective and efficient.
Analysis & Discussion
From report it has been analysed that Information technology brings effective
advancement and assist to perform the organization activities effectively and efficiently.
Henceforth, technological advancement has crucial impacts on business operations.
Thus, technological advancement tools brings effective and efficiency within the
enterprise. Thus, use of technological advancement helps to bring ease in the services of the
enterprise.
CONCLUSION
Hereby, it can be concluded that information technology defined as to use of computers,
storage and networking to create process and tore all forms of electronic information. The
present report is based on business activities of Metro bank, this is entity that engaged in services
of banking sector.
Furthermore, report has focused on activities as to role of IT to define the success of
enterprise, difference between various kind of networking techniques to streamline the operation
working of enterprise. Lastly, assignment has undertaken analysis and discussion to evaluate the
beneficial aspect of IT in business enterprise.
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REFERENCES
Books and journals
Long, R.J., 2018. New office information technology: Human and managerial implications.
Routledge.
Benitez, J., Ray, G. and Henseler, J., 2018. Impact of information technology infrastructure
flexibility on mergers and acquisitions. MIS Quarterly. 42(1).
Ahmed, A.A., Abu-Naser, S.S., El Talla, S.A. and Al Shobaki, M.J., 2018. The Impact of
Information Technology Used on the Nature of Administrators Work at Al-Azhar
University in Gaza.
Malee, D.P and et.al., 2018. Methods and apparatus to interface with different service provider
information technology systems supporting service ordering. U.S. Patent 10,148,826.
Zaqout, I., Abu-Naser, S.S., and Al Shobaki, M.J., 2018. Information Technology used and it’s
Impact on the Participation of Administrative Staff in Decision-Making in Palestinian
Universities.
Oláh, J., Karmazin, G., Pető, K. and Popp, J., 2018. Information technology developments of
logistics service providers in Hungary. International Journal of Logistics Research and
Applications. 21(3). pp.332-344.
Chae, H.C., Koh, C.E. and Park, K.O., 2018. Information technology capability and firm
performance: Role of industry. Information & Management. 55(5). pp.525-546.
Online
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