Impact of Information Technology on Barclays Bank

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Information Technology for Business
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Executive Summary
Technology advancement has brought rapid changes in many sectors of the
economy. Service delivery has improved after adoption of the information technology in
business operation. Technology development has resulted in competitions in business.
IT has led to better productions as business try to outshine a competitive industry. The
banking and finance sector has significantly benefited from technology development.
Availability of attractive and favorable features tends to attract customers hence leading
to constant growth. The business stability mainly depends on management and how the
business invests on technology and research. This report analyzes the impact of
information technology on the Barclays bank, which is one of the stable and profitable
banks worldwide. Barclays banks, like any other banking and finance institutions,
experience a similar impact of technology.

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Introduction
Technology advancement has brought competition in various sectors. The business
that has not utilized technology in its operation has ended up closing down due to
competition from businesses that have embraced technology in its process. The
banking sector is very dynamic; banks that comply with market standards tend to make
losses which make stakeholders withdraw funding. Over decades Barclays bank has
continued to grow and expand branches all over the world. This achievement is a result
of proper management and investing in technology. The purpose of this report is to
analyze varies ways IT has assisted the banking sector to face competition and
increase efficiency in its service delivery (Jeston, 2014)
1. Does your chosen business need IT?
Barclays bank, as any other banking institutions needs IT to function effectively.
Information technology is like the main engine for bank operation. A fully functioning
system must be in process for the staffs to analyze currency trends (Wagner, 2014).
Ticketing system enhances service delivery to clients seeking services from Barclays
bank. Clients’ details stored in the bank information system; hence, the bank can track
the loans applicants for and individuals. The information technology has also improved
security in banks through the use of security cameras to monitor the banks. Also, the
use of fingerprints and electronic cards has significantly helped in overseeing the staffs’
operations order to identify lazily and staffs who practice unauthorized activities.
Nowdays information technology is applicable in almost every sector.
2. Why IT is important for business survival?