Report on Information technology 2022

2019Information
technology
Information
technology

IT
Abstract
In the entire report, the emphasis is on the role of information technology in banking
and finance sector. Information technology is related with the use of computers tor
store, retrieve and manipulate the information that helps the companies to maintain
their overall data in relation to the activities. IT is known as the subset of information
and communication technology. So, the paper discusses about the risk factors that
are faced by the companies at the time of managing the operational functions.

IT
Table of Contents
Introduction
Does Bank of Queensland require IT?
Why IT is important for the survival of business?
What is required to apply IT in Bank of Queensland?
How Bank of Queensland use IT?
Benefits and advantages does IT bring to Bank of Queensland
Type of risk IT bring to Bank of Queensland?
How Bank of Queensland can monitor and maintain IT?
Conclusion
References

IT
Introduction
In the present era, the use of information technology has been enhanced and now
almost every company is considering the use of information technology to simplify
their job role. In this paper, the emphasis will be given on the concept of “Information
technology”. The real life business example selected for this paper is of “Bank of
Queensland” company. The paper will also discuss the recent news related to
information security breach of Bank of Queensland.
Does Bank of Queensland require IT?
Bank of Queensland is considered as one of the largest Australian retail bank and it
is also the oldest financial institutions in Queensland. There are more than 252
branches in Australia and 78 corporate branches. So, to manage banking and
finance functions there is a requirement of information technology as it will assist in
simplifying the job roles of the employees. In today’s scenario, people are using
banking services such as ATM for their daily transactions (BOQ,2019). So, this is
one of the major reason that states that Bank of Queensland require information
technology as it also helps them in offering online access to the customers.
From transferring the money to opening fixed deposits, the company has to provide
the platform to the customers so that they can avail the services easily. So, it can be
said that IT is considered as one of the essential aspect for Bank of Queensland.
Also, the company has more than 100,000 and to maintain the privacy of the data is
not easy, so for this Bank of Queensland requires IT. With the help of information
technology, the company can secure the data or the information of the customers
which directly assist organization to attain high success ratio among its competitors.