Strategic Information Systems of Commonwealth Bank of Australia

Running head: STRATEGIC INFORMATION SYSTEMS OF COMMONWEALTH BANK OF AUSTRALIA
Strategic Information Systems of Commonwealth Bank of Australia
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1STRATEGIC INFORMATION SYSTEMS OF COMMONWEALTH BANK OF AUSTRALIA
Table of Contents
1. Introduction..................................................................................................................................2
1.1 A Brief Introduction of Commonwealth Bank of Australia..................................................2
1.2 Critical Success Factors and Primary Objectives of CBA.....................................................2
1.3 Information helpful for achieving the Objectives..................................................................3
1.4 Mission Statement for the Client Business............................................................................3
2. Formal Organizational Chart of Commonwealth Bank of Australia...........................................4
3. A Brief Analysis of Commonwealth Bank of Australia..............................................................4
3.1 The Current System of Commonwealth Bank of Australia...................................................4
3.2 Identification of Specific Control Weaknesses within Commonwealth Bank of Australia. .5
4. New Improved System for the Commonwealth Bank of Australia.............................................7
4.1 Primary Features of New Improved System..........................................................................7
4.2 Relevance of the New Advanced Technologies....................................................................9
5. Other Kinds of Requirements....................................................................................................10
5.1 Technological Platforms for the System..............................................................................10
5.2 Potential Security Risks for the Banking Sector of CBA....................................................11
5.3 Accounting Controls over the New Banking System..........................................................12
6. Conclusion.................................................................................................................................13
7. References..................................................................................................................................14

2STRATEGIC INFORMATION SYSTEMS OF COMMONWEALTH BANK OF AUSTRALIA
1. Introduction
1.1 A Brief Introduction of Commonwealth Bank of Australia
Information Technology (IT) has become a major factor of success for any organisation
in the world. This report is based on the various kinds of changes based on IT, which are being
made in the Commonwealth Bank of Australia (CBA). The CBA is considered as one of the
largest retail sector bank based in Australia. The banking sector is one of the largest and hence
dominates the sector of retail deposits and home loans. The bank also has a strong base of
business franchise in the segments of the retail market (Schlagwein, Thorogood and Willcocks
2014).
1.2 Critical Success Factors and Primary Objectives of CBA
The CBA has majorly acquired the major status of a popular financial icon that has been
evident with their huge success based on their success stories in the past. They have hence
continued in the path of financial success and various kinds of innovation in the technology
based on customer-centric (Osei-Kyei and Chan 2015). CBA is regarded as one of the largest
repositories within the banking sector and hence has been widely accepted by the people of
Australia. Hence the wide community of people hold ha high level of expectation from the
institution.
Some of the critical factors of success for the CBA are:
1. Passionate form of leadership in the world market.
2. Rewards and Recognition that would be linked with the services and outcomes based
on sales.

3STRATEGIC INFORMATION SYSTEMS OF COMMONWEALTH BANK OF AUSTRALIA
3. High level of training of employees and mastery of the entire process of the
organization.
4. Clear form of expectations and effective measures of follow-up of the issues (Chileshe
and John Kikwasi 2014).
The primary form of objectives of the CBA are:
1. Retaining of lowest form of structure of cost.
2. Expanding of customer share with the help of direct and online form of leadership.
3. Implementation of best forms of management of people and resources.
4. Providing of more kinds of financial services and meeting the expectations of the
customer (Worthington 2016).
1.3 Information helpful for achieving the Objectives
The CBA would require to maintain a high form of competitive structure of cost that
would be meaningful for the growth of the customer base for a greater form of advantage. The
use of internet based products and various kinds of services would be the major reason for the
growth of the business. There is a high level of competitive pressure in the market from new
kinds of entrants. Many of the strategic initiatives would be primarily focused on ensuring
quality and hence they have retained the advantage of low unit of the structure of cost (Willcocks
and Reynolds 2015).
1.4 Mission Statement for the Client Business
A mission statement for the client business based within the context of CBA is – To
provide high level of services to the customer and meet the requirements of the business.