CFPBUS003 Individual Report: Information Technology in Barclays Bank

This individual report analyzes the role of information technology (IT) in the success of Barclays Bank, a major financial institution. It explores how IT facilitates communication, streamlines operations, and enhances customer relationship management. The report also delves into social and ethical issues arising from IT deployment, such as hacking and identity theft, and discusses various networking technologies, including multipoint and point-to-point systems. Furthermore, it touches upon the latest developments in artificial intelligence and examines the stages of the software development lifecycle. The report emphasizes the importance of innovation and the strategic use of IT for business growth, competitiveness, and customer satisfaction, highlighting the challenges and opportunities that arise from integrating technology into banking operations. Overall, this report provides a comprehensive overview of IT's impact on Barclays Bank and the broader business landscape.

Individual Report

ABSTRACT
The information technology has advanced and upgraded the methods which are used by
the traditional businesses but nowadays there has been the growth and development in the
companies by using of automated processing and new systems. The present report is based on
Barclays Bank which provides financial services to the customers and it plays an essential role in
its success because it provides better communication channels and maintenance of data and
information in a safer manner. But there are many issues being faced by deploying the
technology in the working which includes ethical and social issues that can affect the working of
the companies. The networking technologies are being developed with the aim to provide easy
transfer of data in a specific range. There are various stages of software development that helps
in developing such a software application that can help in making the working easier.

Contents
ABSTRACT................................................................................................................................................2
INTRODUCTION.......................................................................................................................................4
LITERATURE REVIEW............................................................................................................................4
ANALYSIS AND DISCUSSION...............................................................................................................5
The role of the information technology in success of business................................................................5
Social and ethical issues in running businesses.......................................................................................6
Difference between networking technologies..........................................................................................7
Latest development in the artificial intelligence......................................................................................9
Stages of the software development lifecycle........................................................................................10
CONCLUSION.........................................................................................................................................12
REFERENCES..........................................................................................................................................13

INTRODUCTION
The information technology can be referred to as the usage of computer networks for
retrieving and storing the data or information. In today's era, there has been enhanced use of it in
businesses. This term has been the subset of information and communication technology where
this system mainly comprises of communication, information and computer system which
includes hardware, software and peripheral equipment which is being operated by the users of it.
The common synonym for the networks and the computers is regarded as information
technology but it also includes other technologies of distributing the information such as
television, telephone etc. In easy terms, this is regarded as a study, support, implementation,
development, management and design of the system that is computer based and includes
software applications and the computer hardware (Grosch, 2020). This report is based on
Barclays Bank, British universal bank that is headquartered in London. It operates in 2 divisions
which is Barclay’s international and Barclay’s UK and is supported by the service company,
namely Barclay’s execution services. This report will cover role of IT in the success of business,
issues faced by the businesses and various networking technologies. Further it will include
developments in artificial intelligence and the software development life cycle.
LITERATURE REVIEW
According to Rich Castagna, 2021, Information technology is defined as using of
network, computers, storage and all other devices, infrastructure and process for the purpose of
creating, processing, securing, storing and exchanging the data in the electronic form. This is
generally used in businesses rather than entertainment and personal purpose and when it is used
for the commercial purpose it includes both the computer technology and the telecommunication.
According to Nicky la Marco, 2019, in digitalization era, the technology has exploded the
trade and commerce and has revolutionized the traditional business practices as it offered new
opportunities to the businesses so that the things are seen from the new perspective. The IT also
helps in enhancing the efficiency in the business operations and is considered as the source of
support and security due to its high speed model which helps in providing customers with
enhanced offering (Sharma, Misra and Mishra, 2017).

ANALYSIS AND DISCUSSION
The role of the information technology in success of business.
Innovation is considered as the source of business success as it involves doing things
differently in a smarter and better manner that can create the positive difference in the
productivity, quality and the value off offering by using the technologies. There are many factors
on which the business success depends like future vision, deployment of right technology and
accurate analysis. It is seen that the organizations that makes the investment in new technologies
and chooses the path of innovation are tend to be more successful as their financial figures
increases which is reflected from the increased market share and competitiveness. The IT has
changed the way of businesses worked and it is considered as the key to the survival and success
for it (Quenum and et. al., 2019). Barclays Bank makes use of high technologies in its operation
so that it can serve its customers with better services and retain them for a longer time. The role
of it in the success of Barclays Bank is narrated thereunder-
 When the information technology is leveraged in the business, the communication is
made easy as communicating with the personnel plays an important role in the
maintenance of good relationship with the customers, suppliers and the employees, This
helps in success of the business because there is clear line of communication among
people that makes the business operations easy. With the deployment of information
technology, there has been simplified ways in which communication can be made and
Barclays Bank uses it for communicating with the stakeholders by phone calls, emails or
even video callings so that there is healthy communication being maintained between
them.
 The working of the businesses is also being made easy by using the information
technology. As during the pandemic of COVID-19, where the whole nation was locked
down so information technology helped in working from home. This has not only helped
the businesses in enhancing the productivity of the employees as the physical work it was
not being possible but also made the business working easy at such difficult times.
Barclays Bank made use of information technology in carrying out its business which
increases the productivity and performance of the workforce as they got flexibility in
working from their homes as compared to working in the office.

 Information technology also helps in making improvisation in the customer relationship
as it helps in managing and designing it. The customer relationship management system
has a purpose that is to capture the relationship that the organization shares with its
consumers. Barclays Bank makes use of this system so that a positive relationship is built
with the customers. It just requires a phone call or chatting with the company and
reporting the issues so that the queries of the customers are resolved. There is a customer
relation officer being appointed who manages the queries of consumers and make
response to it effectively so that the customers are served 24/ 7 with the services of the
bank.
 The information and data are very essential for the organization and is considered as a
valuable resource. The management information system helps the businesses to make
the track of their sales information and data in respect of profits so that they can
maximise the return on investment and recognise the areas of improvement (Dezi and et.
al., 2018). Barclays Bank uses the management information system so that there is a track
of all the details of the investment and it also helps it to keep the eye on profits and
returns so that the right decisions are taken on time.
Social and ethical issues in running businesses.
When there are many advantages attached by usage of information technology, there
come many issues that are faced by the businesses when they deploy the information technology.
There has been creation of many shifts in which the society operates by the growth of technology
and there are many ethical and social issues that are the direct result of technological up-
gradation and advancement.
Barclays Bank faces many of the social issues when running its business by the usage of
information technology. Some of them are narrated thereunder-
 Hacking- This has been prevailing in society from a very long time where the
unauthorised third party takes initiative to hack the information or data of business and
use it for illicit purpose. Barclays Bank has used good security technologies in its
business that helps it to keep the data of every customer and employees safe. As banks
keeps the personal information of every customer and there are many of the financial

frauds prevailing in the society so this issue is of ut most importance for Barclays Bank
as it can result in losing the trust of customers in case their information is hacked.
 Identity theft- The fraud is the spurious activity that has recently evolved when there is
easy accessibility to the Internet and computers. Identity theft is one of the fraudulent
activities where the personal information is taken by 3rd party for malicious purpose. It
may even result in illegal online transactions that can create serious ramifications
(Cantele and Zardini, 2018). As Barclays Bank is a multinational bank which provides
services to international customers so this is a very serious issue for it as it can harm the
customers and break their trust in the organization.
Ethical issues
 Access of right- This Includes damaging the system of business which results in losing
the resources and information. There are many issues being faced by the business that
arises from actions like alteration in files or intentional destruction that may result in
losing the resources. For instance, viruses are such problems that are faced by the
businesses and Barclays Bank must ensure that it has proper antivirus being installed in
the system so that its data is not lost.
 Privacy- The Issue of privacy is of a great concern when there are end number of cases
relating to the online identity theft. The businesses nowadays make use of social media to
check the background of employees and when there is no usage of privacy setting in it, it
may not prevent any person to look into the details (Nord, Riggio and Paliszkiewicz,
2017). Barclays Bank has end number of employees and customers and this is a great
issue for it so it must take care of the privacy of both employees and customers and
protect their data from any violation or breach of privacy.
Difference between networking technologies.
The system of computer network technology allows the institution and businesses to send
digitally the information and data by using the information system. When the data is transferred
from one computer to another by using the mediums of communication like cables or wire, it is
called the computer network and in the similar manner when any data is transferred from one
mobile device to other by using wires or cables, it is known as mobile network.

When there is exchange of data by using the technology between the small and large
information, it is called as networking technology. By using the networking, it has become easy
for the users to send the files, messages by emails or other channels. The different types of
networking technologies that are being used by Barclays Bank are narrated thereunder-
On the basis of transmission
 Multipoint- When there are many nodes connected directly with the help of the common
medium in a linear manner, it is multipoint networking technology. This mainly works on
connections like ad time sharing.
 Point to point- It is when the sender and receivers are connected directly and the transfer
of data is done by usage of guided medium which is used for wireless network or wired
network (Kankanhalli, Charalabidis and Mellouli, 2019).
On the basis of Scale
Basis WAN LAN MAN
Speed The speed of
transmitting the
information is low
which is
approximately
10mbps.
The speed of
transmitting data is
high that ranges from
4mbps to 16mbps and
may be maximum up
to the 100mbps.
The speed of transferring
the data is average which
reaches up to 100mbps.
Installation and
maintenance
There is difficult
process of maintaining
and installing it.
There is a easy process
of installing and
maintaining the LAN
process.
The installation process
and maintenance is a little
difficult process.
Coverage It ranges up to 100000
km.
It ranges between 10
m to 1500 meters.
The range of the MAN is
between the 5- 60 km.
Ownership It is owned by private
or public individual.
It is owned by single
company or
individual.
Ur is owned by both
private and public party.
Networking
device
It uses routers,
bridges, optical wires,
It works in the form of
Wi-Fi, token ring,
It works with wires cables
and modem such a twisted

switches, satellites and
firewall modems.
Ethernet cables and
the fiber distributed
data interface
(Luntovskyy and
Spillner, 2017).
pair cables and optical
cable.
Example Internet Intranet Cable TV network
Latest development in the artificial intelligence.
Artificial intelligence involves something that leverages the computers and machines to
make the decisions and solve the problems as per the capabilities of human mind. It is one of the
ability of the robot or computer to complete the task which is usually done by the individuals as
it needs human intelligence and discernment. There has been positive impact being created by
using the information technology, right from modernizing the healthcare and financial streams to
the research and manufacturing, the artificial intelligence has changed the way workings are
usually done in the businesses.
Artificial intelligence is regarded as a branch of the computer science which has a
purpose to convert the computers into intelligent machines. Barclays Bank is a multinational
financial institution that offers its financial service to customers. It uses the artificial intelligence
so that enhance services are provided to customers. Some of the artificial intelligence
developments are illustrated below-
 Improved productivity- There has been use of the algorithm by the artificial intelligence
that is applied directly so that the programmer can be aided and the codes are written in a
better manner which can helps in overcoming software bugs. It also offers suggestions for
the coding which helps in increasing the efficiency and productivity of business
(Mitchell, 2019). Barclays Bank makes use of artificial intelligence so that it can make
use of series of algorithm so that the efficiency of the employees is increased so that they
are able to work in a smoother manner.
 Secure system building- The data security has an important place when the confidential
data is secured. The businesses are involved in storing ample amount of information of
the staff and customers so it is very essential to keep it safe. The artificial intelligence

gives essential security to data by creation of various layers of security so that it is
enabled. Barclays Bank make use of AI in its working so that it can identify the data
threats and breaches and provide essential solutions for it so that it can be prevented.
 Automatic process- One of the biggest merit of automation is it makes the working of the
business is easy without the interference of humans (Swami, Dave and Ranga, 2021).
Barclays Bank uses AI so that it can make automatic changes in the information and data
of the customers when any services availed by them like depositing money or
withdrawing cash etc.
Stages of the software development lifecycle.
It is the application of business practice that helps in development of software
applications. This life cycle consists of each of the task which is essential for making the
software application. Its stages are narrated thereunder-
 Planning- Here, the project leader is involved in evaluating the project terms. It includes
calculation of labour and material cost, creation of project teams and the making of a
systematic timetable together with the goals so that a full fledge planning is done for
developing the application.
 Define requirements- It is also a part of planning stage which is involved in determining
what is the role of application and other requirements of it like resources for building the
project.
 Design and prototyping- It provides the model as to in what ways the application must
work. Design involves many aspects such as platform, user interface, architecture,
communication, security, programming and many others. Prototyping is also considered
as a part of design stage as there is early version of the software being created at this
stage (Ullah and et. al., 2020).
 Development of software- This stage requires writing a program. When there is a smaller
project, it may be written down by the single developer but in case a large project is
there, it requires breaking it into several parts and many teams work on each of it. It also
includes the process of coding.

 Testing- This is considered as a critical stage as the application is being tested before it is
available to the final users. Some testing may be done in an automatic manner like
security testing.
 Deployment- This stage involves making the application available to users where some
companies prefer to make this process automatic like downloading the link from website
or payment portal. It also includes downloading of the application on smartphone.
 Operations and maintenance- Here, the software application life cycle is ended and the
people are using the application but it is an important part of the life cycle as it involves
discovery of various bugs that are not identified at the testing stage. It also includes
fixation of bugs that are identified later (Howard, 2019).

CONCLUSION
It is concluded that the information technology has changed the scenario in which the
businesses worked due to technological advancements being made that has resulted in making
their working easy. There is a big fat role of information technology in the success of business as
it helps in making the communication smoother, maintenance of customer relationship,
management information system and many others. But there are many issues being faced by the
organizations such as identity theft, hacking, privacy, access to rights and many others that
makes the working of businesses very difficult. Further it is added that there are various types of
networking technologies that can be used for transferring the data in specified range. The
software development life cycle consists of 7 stages which help in developing the application so
that there is usage of right technology for the working.