Information Technology in Banking

This assignment delves into the crucial role of information technology within the banking industry. It examines factors influencing the adoption of electronic banking systems, evaluates the impact of ICTs on HR service delivery, and explores the applications of blockchain technology in banking. Furthermore, it analyzes the influence of IT investments on firm risk and highlights the importance of managing disruptive innovation through service systems in the context of banking.

Running head: INFORMATION SYSTEMS MANAGEMENT
Information Systems Management
Name of the Student
Name of the University
Author Note

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INFORMATION SYSTEMS MANAGEMENT
Executive Summary
In this new age of technology or digitization, Information technology and Information System
are playing very crucial role in the development of each sector. This includes finance sector also,
and contributing in the enhancement of the performance, customer experience, and decision-
making within the organization. This report presents a thorough research on the supplication of
Information system, and database management system within the system of the organization. A
case study about Barclays Bank has been introduced in manner to support the theory of
Information System and Database management system. IS can be helpful for Barclays in
achieving their goals and wider their scope through proper management, and accessing upon
large stack of data. There are many matters, those needs to be concerned while talking about
Information system and this report presents all the objectives related to the application of
Information technology and Information system within the organization. This report aims on the
functioning of the Barclays Bank in the United Kingdom, how the Information System is
boosting the way of functioning of this organization.

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Table of Contents
Introduction......................................................................................................................................3
Background......................................................................................................................................3
Barclays Bank..............................................................................................................................3
Deployment of Information System and Database......................................................................4
Example of Services within Barclays......................................................................................6
Deployment of Databases within Barclays..................................................................................6
Findings and Analysis......................................................................................................................7
Impact of Information System on Decision Making...................................................................7
Benefits of Information System...............................................................................................8
Risk of Information System.....................................................................................................9
Role of Information System Management (ISM)........................................................................9
Key elements in ISM.............................................................................................................11
Key responsibilities of ISM (or Team)..................................................................................11
Conclusions....................................................................................................................................12
Recommendations..........................................................................................................................12
References......................................................................................................................................13

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Introduction
Technology is continuously evolving and getting advanced, and there is not any sector
that is left untouchable with technology. Information system was introduced in very early stage
and has become the crucial factor for every enterprise to be at the top in this competitive
environment. Information system can be defined as the organized system for the storage,
organization, collection, and communication of the information related to the customer,
consumer, and suppliers (Hubbard and Valverde 2014). Technically, it can be described as a
network used by the organization and the people in manner to proceeds, filter, collect, distribute,
and create data. Banking sector needs large volume of consumers and business in banking
referred as the battle of consumers and bank with large number of consumers will be leading in
the market. Unpredictable competitive advantage can be gained in the field of banking through
implementing useful, reliable, and robust systems for the consideration of customer value or
profitability, both potential and current, in connection with the pricing and budgeting
methodologies.
This report focuses on the implementation of Information System and Database
management within the Barclays Bank United Kingdom. This report presents theory related to
the Information System Management and evaluates it with the real world example considering
this case study as introduced in the next paragraph.

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INFORMATION SYSTEMS MANAGEMENT
Background
Barclays Bank
This is one of the oldest financial services company and British multinational bank in
London. It is widely spread across all over the world and offers services and products across
investment, corporate, and personal banking including the wealth management and credit cards
management. This enterprise is running its operation among 40 countries along with the 120,000
employees and staffs connected with the Barclays. Barclays states that “Barclays UK is a
personal and business banking franchise with true scale, built around our customers’ needs with
innovation at its core (McMillen et al. 2017).” The business across the UK is comprised of UK
retail banking operations, UK-based wealth offering, credit cards for the UK consumers and
corporate banking offers for the smaller businesses. In UK itself, it has more than 24 million
consumers, and about one million business clients (Bauer et al. 2017). According to the research
made, it can be stated that this all success was made due to the successful implementation of
information management, Information System, and Information Management System.
Deployment of Information System and Database
Every finance sector is spending lots of money in the Information System, as this is the
only factor that can keep the organization in the track of the competitive market and help them
achieving the competitive advantage among their competitors. Information system management
could be helpful in improving the ranking in the share markets, creating new products and
services, customer experience, and reducing the investment (Chaamwe and Lulembo 2016).
Billions of money are being invested in manner to improve the efficiency and effectiveness of
the customer services and Barclays also invested a lot of money in manner to support the
Information system of the organization. According to the annual report 2016 presented by

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Barclays PLC, various departments within the Barclays are being operated on the Information
System that includes:
Customer Service: Information System is used to collect and save data related to the consumers
that will be helpful in improving the customer relations and customer experiences. This is
divided into two sectors, one includes the information about the personal accounts of the
customers and other includes the information about the products and services delivered by the
Barclays to its customers (Jjoroge, Mbuguah and Muketha 2014).
Accounting Department: Accounting department of the Barclays Bank is completely relied on
the Information System of the enterprise and facilitates the option for editing account
information, monitors the transactions, manages the debts between the consumers and the bank.
Collection Department: Information system provides flexibility and easy operations on the
activities related to the collection and notifying the information about the outstanding debts and
help in resolving the issues related to the transactions made by them to the bank.
Fraud Sector: This is one of the most important departments for the Information security.
Collecting personal information is not a criminal offense but it not protecting it from
vulnerabilities and attacks might bring lots of problem for the Barclays (Guo and Liang 2016).
This helps in monitoring and detecting if any fraud is being made within the enterprise and
protect it from cyberattacks.

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Example of Services within Barclays
Figure 1: Information System Management and CGS Services
(Source: Created by Author)
Deployment of Databases within Barclays
Barclays has developed multimedia information system for both ‘external’ and ‘internal’
use. Internal systems are focusing on the ‘career builder’ that can be described as the (POI) point
of information system. The database of this system comprised of information relevant to the
career opportunities and job descriptions in manner to allow users to match their skills (Laudon
and Laudon 2016). External system targets to the services, products, and the mass market in
manner to be in the race of leading financial services in the world.

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Business Needs Analyser
Touchbank
Homestead Projects
Training
Career Building
INFORMATION SYSTEMS MANAGEMENT
Figure 2: Overview of Barclays’ Information System
(Source: Created by Author)
Findings and Analysis
Impact of Information System on Decision Making
Information system are being used for the decision making purpose in the offering
of marketing schemes related to the loan and other funds offering. There are various levels at
which the ban will be needing information and can be listed as basic and advance level. The
basic level of information system is needed for the administrative or official purpose including
the account holding for the customers and the book keeping and many more. Internet banking is
one of the examples considering as a revolutionary moment and made it much attractive for the
customers than it was earlier (Peppard and Ward 2016). As the technology gets advanced, IVRs

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makes phone banking to be practices and it is one of the major achievements in the field of
banking and financial sectors.
At the advance level, the information is used at the managerial level and considered as a
crucial factor for the growth in the production or output of the enterprise. Such type of
information are used by the managers in manner to listing the stocks, meetings and other
memorable factors in the database in manner to keep them secured (Bultun 2014). The
information saved into the database should be given highest priority and security should be the
primary objective and should be shared either with the consent of the higher authorities or by the
authorities only. This level of information is not for the use of the customers. This level of
information could also be helpful in detecting the frauds and safety measures for the data or
information.
Benefits of Information System
Development in the technology enables the system to be more advanced and innovative,
information system are thus become the most trending technology because of its efficiency and
reliability. Cloud computing is one of the beneficial aspects of the information system and are
being applicable at the extreme level in finance and banking industries (Quereshi et al. 2014).
This enables the banking mangers and other employees to be connected with the data and
information 24*7 and enables to share all the data at any time. Information is the need of every
enterprise as it is the only key element for the organizations to be ahead of the competitors and
manage their sustainability in the market.

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INFORMATION SYSTEMS MANAGEMENT
Risk of Information System
There are several risks related to the Barclays’ operational activity and the data and
information related to the consumers. The most crucial factor related to the storage of data and
information on the internet or cloud is the cyberattacks and this information is vulnerable to such
intrusion (Armstron et al. 2015). Data loss is another factor related to the storage of data or
information into the database or in the cloud. Decision-making might be manipulated through
altering the data or information related to the consumer’s behaviour or market behaviour.
Internal threat is a topic that should be given emphasis while stating about the security of the
data or information and internal users with higher access should not be allowed to access the
network after resigning (Blohm et al. 2017).
Role of Information System Management (ISM)
Information management system could play a significant role in managing the data and
information related to the operational activity of the enterprise and that of the customers or the
consumers. It put emphasis on the various tasks related to the information system within the
existing system of the organization, coordinating or directing through research in manner to
monitor the network security related to the internet operations (Moro, Cortez and Rita 2015).
Following flow chart can be helpful in explaining the roles of Information System Management:

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Figure 3: Role of the Information System Management
(Source: Created by Author)

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ISM
Management Information System
INFORMATION SYSTEMS MANAGEMENT
Key elements in ISM
Figure 4: Components of Information System Management
(Source: Created by Author)
Key elements of the Information System Management can be referred to the gathering of
data those are necessary similar to the raw data or crude input and processing those collected
data into a meaningful information. There are many advantages of the implementation of IMS
within the existing system of the organization
Key responsibilities of ISM (or Team)
ISM can be responsible for many aspects and assist manager and various objectives
related to the operational activities of the organization however, key responsibilities can be
represented as:

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It can complete its duties even if there is no manager
Technical and administrative functions can be accomplished in efficient and effective manner
Maintain the workstations and servers (kim Mithas and Kimbrough 2017)
Diagnose the problems and resolve them related to the fax, copiers, printers, and networks.
Maintain the updates of intranet and websites.
Conclusions
Based on the above report it can be concluded that information system and information
system management are the most crucial aspects for a financial enterprise in manner to maintain
its sustainability and enhance the performance. There are no doubt enhancing the performance of
the organization and helping them to deliver services according to the need of the consumer but
has certain security issues. Looking at the positive outputs it can be stated that despite of risks
and issues there are a lot information system is providing to this digital world and in future, it is
going to be spread in each corner of the world.
Recommendations
 Security and privacy of the consumers should be given much priority than data collection.
 Using encryption technology can be a better approach for enhancing the security.
 Role of the mobile application should be enhanced.

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INFORMATION SYSTEMS MANAGEMENT
References
Armstrong, C., Guay, W.R., Mehran, H. and Weber, J., 2015. The role of information and
financial reporting in corporate governance: A review of the evidence and the implications for
banking firms and the financial services industry.
Bauer, J., McMillen, G.C., Crozier, E., Schuetz, C.A. and Lloyd, G., Barclays Bank Plc,
2017. Secure account provisioning. 9,558,481.
Blohm, I., Haas, P., Peters, C., Jakob, T. and Leimeister, J.M., 2016. Managing Disruptive
Innovation through Service Systems–The Case of Crowdlending in the Banking Industry.
Bultum, A.G., 2014. Factors affecting adoption of electronic banking system in Ethiopian
banking industry. Journal of Management Information System and E-commerce, 1(1), pp.1-17.
Chaamwe, N. and Lulembo, K., 2016. Evaluating the Impact of ICTs on HR Service Delivery: A
Case of Barclays Bank Zambia. Journal of Advanced Management Science Vol, 4(6).
Guo, Y. and Liang, C., 2016. Blockchain application and outlook in the banking
industry. Financial Innovation, 2(1), p.24.
Hubbard, D. and Valverde, R., 2014. Reducing Systems Implementation Failure: A conceptual
Framework for the Improvement of Financial Systems Implementations within the Financial
Services Industries. In Modern Trends and Techniques in Computer Science (pp. 189-202).
Springer, Cham.

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Kim, K., Mithas, S. and Kimbrough, M., 2017. INFORMATION TECHNOLOGY
INVESTMENTS AND FIRM RISK ACROSS INDUSTRIES: EVIDENCE FROM THE BOND
MARKET. MIS Quarterly, 41(4).
Laudon, K.C. and Laudon, J.P., 2016. Management information system. Pearson Education
India.
McMillen, G.C., Crake, D.A., Akana, T.P., Barton, L., Schuetz, C.A., Lloyd, G. and Crozier, E.,
Barclays Bank Plc, 2017. Method and system for account management and electronic wallet
access on a mobile device. 9,607,293.
Moro, S., Cortez, P. and Rita, P., 2015. Business intelligence in banking: A literature analysis
from 2002 to 2013 using text mining and latent Dirichlet allocation. Expert Systems with
Applications, 42(3), pp.1314-1324.
Njoroge, S.W., Mbuguah, S.M. and Muketha, G.M., 2014. Determination of Information
Systems service Quality Attributes in Banking Industry. International Journal of Technology in
Computer Science and Engineering, 1 (2): 40-51. ISSN 2349, 1582.
Peppard, J. and Ward, J., 2016. The strategic management of information systems: Building a
digital strategy. John Wiley & Sons.
Qureshi, I.A., Reuben, S.J., Whitty, M. and Raza, H., 2014. Impact of Information Technology
on Management Efficiency: A Case Study of the Banking Sector of Pakistan. The International
Journal of Business & Management, 2(9), p.49.

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