ISY3001 E-Business Report: Financial Accounting Services Analysis

This report provides a comprehensive analysis of e-business models within the Australian financial accounting services market, focusing on the Business-to-Consumer (B2C) model. It examines the online banking services of AMP Bank and Australian Military Bank, detailing their business goals, and comparing their official websites. The report includes a grading system based on various aspects of the banks' online presence and services, along with a discussion of new technologies like AI and Blockchain and their impact on the financial sector. The report highlights the importance of ethical banking and the need for adaptation to technological advancements, concluding with an overview of the necessity of e-business in the current financial landscape.

Running head: E-BUSINESS
E-BUSINESS
Name of the Student
Name of the University
Author note

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Executive Summary
This report provides a detailed idea regarding financial accounting services in Australia. It
describes an idea about Business to Consumer Model. It elaborates the cause why AMP bank and
Australian Military Bank fall in Business to Customer Model. It discusses regarding business
purpose of these two banks. This report also performs the ratings of the official portal of these
two banks considering different kinds of aspects. It elaborates the comparison between websites
of these two banks. This report will conclude regarding the necessity of E-Business.

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Table of Contents
Introduction......................................................................................................................................3
Discussion........................................................................................................................................3
Conclusion.....................................................................................................................................14
References......................................................................................................................................15

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Introduction
E-Business is performed by using the internet. It is a very popular business strategy. In
this category of business, online operations are occured (Abadi et al. 2016). It describes why
AMP Bank, as well as the Australian military bank, called as Business to Consumer Business
model. This report provides ratings by using different aspects. This report performs a comparison
between the official portals of these two banks. This report concludes necessity of E-Business.
Discussion
A. Choice of E-Commerce Model
In this particular section, Business to Consumer Model is used (Abadi et al. 2016) .The
Company AMP bank is giving various types of online banking services to clients. The bank
named Australian Military bank is delivering various types of online banking services to
consumers.

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Figure 1: AMP Bank Front page
Source: https://www.amp.com.au/

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Figure 2: Australian Military Bank Front Page
Source: https://www.australianmilitarybank.com.au/
B. The reason to become Business to Consumer
The AMP bank gives huge amount features to consumer (Campbell, Wells and Valacich
2013). It delivers an online banking service that involves online transactions, internet banking
facility. Because of this, it is called a Business to Consumer model.
The Australian Military bank provides different kinds of features like online transactions,
internet banking, mobile banking facility, online balance checking, and many others (Chiu et al.
2016). That is why it is called Business to consumer Model.
C. Business goals

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In current scenario, AMP is providing various number of update on the group strategy
and growth opportunities in its Investor Strategy Day (Espada et al. 2017). It is organized in
Sydney. The techniques will invest directly to the higher-growth of the businesses in field named
wealth management, AMP Bank and AMP Capital. It will enhance the power of AMP Bank in
foreign merchandise. They are focused on applications of cost efficiency (Espada et al. 2014).
Important elements of this methodology involve:
 They invest a huge amount of money for larger growth of the banks. They provide
lower amount of capital-intensive businesses. They are responsible to recycle
from lower-growth business lines to higher growth. They also provide a huge
amount of return.
 Investment is only applicable to those consumers who have a fixed income. It is
provided by AMP Capital management expertise. They give real estate as well as
infrastructure to the outside market. It involves Asia, North America and Europe.
 Continue large rate of extension and increase in offering in businesses in China.
 They are accountable to give preservation of prosperity of Australia, New
Zealand. They also provide maturity in capital efficiency and value. These are
used to emerge the embedded value at the current time.
 Continuous focus on the cost to perform operational attachment.
The goal of AMP bank is to become an efficient bank in the country named Australia and
New Zeeland in 2020 (Fleischer and Snickars 2017). It was founded in 1849. Main target of the
bank was to provide a benefit of financial security so that consumer was able to live a hassle-free
life. Promise makes by this bank is to help customer in the banking services. Helping people: it
is that particular guarantee that was initiated by the bank before one hundred sixty years, and

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why they are continuing their business. Helping people own tomorrow is a powerful purpose. By
using this method the bank can be very popular. Because of this most of the people believe and
recommendation they become Australia’s and New Zealand’s favourite banking sector. It is the
only point they are targeting for by 2020. Their promise is to provide excellent consumer
services to the customer own tomorrow. They are working to achieve their as well as consumer
promise.
There were six simple practice stipulated by AMP bank. It has a huge importance in the
customer service. They can define the procedures for helping customers. The employees are
providing the thoughts, actions and decisions; they are responsible for providing the facilities and
purposes. The customer can able to gain experience in this particular case. AMP bank gives
priority to its consumers (Jordan and Mitchell 2015). Authority realizes that if a certain policy is
best for the consumers then it will be best for the business. They are very much sympathetic to
their consumers. The bank is able to understand the challenges, hopes, requirements and many
others of the consumers. They are willing to help the consumers to make their life their happy
because it is the only procedure by which they can achieve the ’success’. The officers of AMP
bank understand that how their work helps the bank to reach to the pre-defined target. It is also
used to generate the value of the consumer. The officials of this bank are very much professional
about their work. They provide an outstanding service to the consumers. That is why their
business is increased in exponential manner. They remove unethical work culture in the bank.
The un-ethical work is responsible for not meeting the needs of consumer. Allowance is a part
that is highlighted to AMP Group Leadership team. It is responsible to elaborate paths by which
AMP can interact with their customers. It is responsible to enhance Banking, Corporate Super
and Advice services. This is performed with the help of Channel Services.

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Australian Military Bank implemented a massive effort and money in this year in a once
in a generation new banking system. The procedure in which they deliver services to consumers
currently is increasing and it happens only through technology like internet banking, mobile
banking and through contact centers. For confirming the requirements of customers this bank
provides secure banking services in the country of Australia. There was significant pain and
effort for achieving this infrastructure (Gevaers et al. 2014). Customers are satisfied with their
banking needs online and in real-time. The authority of the bank invests a bulk amount of money
to their very famous ATM footprint application. At present they have top level of ATM services
in defense sector in Australia. This bank has twenty eight machines in the entire country. These
are able to provide the withdrawal of cash at free of cost. In the similar manner the consumer can
able to use the ATM facilities from more than ten thousand major ATMs. The bank has provided
dollar ten thousand to Military Rewards Account Charity Partners, Mates4Mates, RSL Defense
Cars and many others. Contributions will give the benefit to current and former male and female
military officers of defense sectors (Hartono et al. 2014). This bank continues its help to provide
help to Australian Defense Force Australian Rules (ADFAR) Association. It helps to increase
the approval of sports in Australian Defense Community. In this year they become main
sponsor of the ADFAR. This bank supports White Ribbon. It can be performed by collecting the
funds. They play golf at Duntroon, Wagga and Cerberus. White Ribbon is a type of program.
It is public conscience performed by male and children. It is used to terminate the brutality
happened on the women and girls. The main target of collecting the fund is to close the domestic
brutality.
D. Grading and Remarks
Attribute Differential Scale Ratings

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1 Good 4
2 Very Good 5
3 Good 4
4 Good 4
5 Very Good 5
6 Very Good 4
7 Very Good 3
8 Very Good 4
9 Good 4
10 Good 4
11 Good 4
12 Good 4
13 Good 3
14 Good 3
15 Good 3
16 Good 3
17 Very Good 4
18 Very Good 4
19 Very Good 5
20 Very Good 5
21 Very Good 5
22 Very Good 5

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E. Performing comparison between official portals of two banks
The AMP bank gives online banking benefit to general public. Australian Military bank
is limited to officers of defense industry. Menu-driven interface of official portal of AMP bank
is better than the official portal of Australian Military bank. The official portal of AMP bank is
much better than Australian Military bank. The methodology implemented by Australian
Military bank is much better than AMP bank (Kniberg 2013). By using the mobile application of
Australian Military Bank, consumers can perform mobile banking very efficiently. AMP bank is
unable to give their customer the mobile banking facility. By using mobile banking the consumer
of AMP bank can get the car loan. But Australian Military bank provides the car loan in pen and
paper mode (Laudon and Traver 2016). Australian Military Bank gives the benefit in ATM
footprint in this country. AMP bank is unable to give ATM footprint benefit to their customer.
F. New Technology
The crucial parts of the problem face by top-level management of these two banks are to
provide ethical banking by using machine learning and Artificial Intelligence. This will provide a
huge effect on employees and consumer. It provides an efficient methodology on data privacy
and security. By using this methodology the risk of ceding control can be performed
intelligently. A survey of one thousand six hundred business and Information technology
managers from ten different teams (including financial services) detected that there is a huge
amount of agitation of modification among employees. It is very much serious about handing of
the controls, and issues related to culture. These were situated at the top barriers by taking
Artificial Intelligence. It is the responsibility of business managers to remove these barriers and

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provide the staff security. A survey disclosed that most of the employees were inside this system.
There are eighty percent of those planning to remove human resources by Artificial Intelligence,
intending to remove those officials to migrate into the latest areas. The fact is that both of these
banks have no choice when it is related to Artificial Intelligence. Seventy-one percent of people
participated in survey agreed it was unavoidable. The employees are very optimistic that it not
only provides the organization a huge success but also established these two banks in society as
well as the economy of the country. Therefore the best option is that to make efficient plans for
the customers by these banks. This methodology is very mature in its present state. It is able to
deliver various kinds of benefits in the service. But it is not useful for new banking officials. In
2017, there are various kinds of implementation of latest technologies. It includes Artificial
Intelligence, Blockchain and many others. They are also responsible to provide associated
services to different dealers (Li and Karahanna 2015). Different banks inaugurate latest
application to give support for performing transactions of customers. They can rectify the
problems of the service provided by these two banks. Utilization of Artificial Intelligence-based
applications is very much useful for fraud and risk management. It can able to show its
efficiencies. Blockchain helps these two banks to increase their production. By using these two
technologies these two banks can able to perform the powerful transaction. It can able to achieve
the preliminary requirements to the consumers. Employees of these two banks worried with
geopolitical and macroeconomic uncertainties. The financial services are industries that are made
relevant progress towards the transformation into a digital business in 2017. In 2018, these two
companies believe the convergence of environmental factors. The invention of new technologies
and enforcing the digitization will increase the rate of modification. The space of modification
will be even more rapid and the opportunity will be more innovative. This creative innovation in