Strategic Information System of ANZ Bank: Assignment
Added on 2020-04-01
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Running head: STRATEGIC INFORMATION SYSTEM OF ANZ BANKStrategic Information System of ANZ BankName of the StudentName of the UniversityAuthor’s Note:
1STRATEGIC INFORMATION SYSTEM OF ANZ BANKTable of ContentsIntroduction......................................................................................................................................2Discussion........................................................................................................................................31. Business Processes...................................................................................................................32. Business Requirements............................................................................................................53. System Requirements..............................................................................................................64. Software and Vendor Selection...............................................................................................75. Three Approaches of Technology for Improving Business Efficiency...................................96. Level of Efficiency of Technology Implementation.............................................................107. Potential Security Risks and Data Breaches..........................................................................108. Guidelines to Mitigate Risks.................................................................................................11Conclusion.....................................................................................................................................11References......................................................................................................................................13Bibliography..................................................................................................................................15
2STRATEGIC INFORMATION SYSTEM OF ANZ BANKIntroductionANZ Bank New Zealand Limited is one of the largest banks of in New Zealand. It doesits job as a subordinate of Australia and New Zealand Banking Group Limited of Australia.Formerly, it was a part of the combination of the famous National Bank of New Zealand andANZ Banking Group ("About us | ANZ", 2017). The main job of this recognized bank is toprovide financial services like loans, investments, asset finance and solutions of payments. TheANZ Bank has 550,000 shareholders. The domestic shareholders are 72.5 percent whereas therest 27.5 percent are retail shareholders. The main shareholders of the bank are the Visa NewZealand Limited or VNZL and Interchange and Settlement Limited or ISL. The VNZL allowsaccess to the network of Visa International and the ISL is the chief and main operator for theprocessing system of payment and that utilized for inter banking transactions. The ANZ Bankwas found in the year 1840 and it gained its name in the year 1951 after merging with the Bankof Australia and Union Bank of Australia (Bowman et al., 2017). The bank has a total capital ofapproximately 93.4 billion Australian dollars and it has the total asset of about 896.5 billionAustralian dollars. It has its branches in worldwide including in America, New Zealand,Australia, Pacific, Europe and Middle East. The total numbers of employees working in the bankis approximately 46000 as per a report of March 31, 2017. The following business report outlines a brief discussion on the famous and recognizedbank of New Zealand the ANZ Bank. The report helps to understand the processes of selectingEnterprise Resource Planning or ERP software for their investment in information system. Thereport clearly defines the business processes and the business and systems requirements. Theappropriate vendor and software selection is also mentioned here. The report also provides three
3STRATEGIC INFORMATION SYSTEM OF ANZ BANKdistinct ways how ANZ bank should utilize technologies for improving their businessefficiencies. The business report further evaluates the probable security risks and breaches andthe possible measures for mitigating them.Discussion1. Business ProcessesThe collection of all kinds of inter linked or interrelated tasks or jobs that help to reach orsatisfy a customer’s requirements is known as a business process. It is normally a series ofseveral and various actions or activities, which after completing will obtain the organizationsgoals and objectives (Chuang & Hu, 2015). It can be represented as the series of activities or aflowchart of all the activities that will help a particular organization to reach its goals andobjectives. Every organization has its own business processes. These are changed from time totime with respect to the requirements and market trends of the business. The business processescan turn out to be the advantages as well as the disadvantages as one single mistake can lead theorganization to a great organizational problem. The Australia and New Zealand Banking GroupLimited or ANZ Bank has its own distinct business processes that have made this bank popularand famous. Several recognized strategies are followed by this bank. Since the financial year2008, this bank has undertaken several recognized fundamental alterations in their businessprocesses. The major strategy of this bank is that they should utilize the stronger substructure ofservices of New Zealand and Australia ("About us | ANZ", 2017). These services can lead thebank in the top most level in the banking market. The banks mainly deal with its customers. Ifthe customers or the clients of the banks are not happy with them, it is evident that they wouldnot come to the banks and the shares of the banks will fall down. The second important strategy
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