Information Technology Report: HSBC Bank's IT Strategies and Issues

This report provides a detailed analysis of Information Technology (IT) within HSBC Bank, exploring its various functions and impacts. The report begins with an introduction to IT and its significance, followed by a literature review examining IT's role in communication, inventory management, and data analytics. It delves into ethical and privacy issues such as data breaches and unauthorized access, and discusses different network types (LAN, WAN, PAN, MAN). The report also highlights the importance of social media for HSBC, including its roles in advertisement, promotion, growth, and communication. A discussion section synthesizes the findings, covering inventory, data management, and customer relationship management systems. Finally, the report offers recommendations for HSBC based on its IT analysis.

Individual report IT

Contents
INTRODUCTION...........................................................................................................................................3
MAIN BODY.................................................................................................................................................3
Literature review.....................................................................................................................................3
Discussion....................................................................................................................................................6
Recommendation........................................................................................................................................7
Conclusion...................................................................................................................................................8
REFERENCES................................................................................................................................................8

INTRODUCTION
Information technology is considered as the one which involves grouping the
technological plan that formulates a system and other applications that can be utilized by
company as well as by an individual. Every business is nowadays engaged and dependent upon
the technology for its operations. Businesses nowadays use machinery in order to have improved
operation and administration in the workplace so that even performance can be brought. The
organization chosen for this report is HSBC, an international bank dealing in investment. It was
founded in the year 1865. It offers many banking services such as NRI services, credit card,
deposits, savings, etc. This report covers the functions of information technology in order to
achieve breakdown of company, privacy and moral issues, importance of social media, different
types of networks, software development life cycle together with literature review, examination
and the recommendations for HSBC with appropriate conclusion and findings.
MAIN BODY
Literature review
Functions of information technology
According to Ritesh Pathak, 2020, Information technology plays a significant role in
many areas for the company such as it makes communication among the networks, organizations
and people much easier as because it contains the immense function which is used in executing
the communication between basics either in an individual form or in terms of the technological
device. Fo4r the success of information technology, networking plays an important role
(Clarkson, 2019). It also has an essential role in the administration of inventory so that the stock
correctness can be maintained and the quality can also be assured by way of operations
management by using the techniques such as total quality management, capacity management,
just in time, waste management and many other. The major part of information technology is the
data analytics and management and it also assists in the information management, access and
security also. Data is an important aspect in the businesses as it is used in analyzing the future
considerations of company by interpreting the happenings and what must be done next. So
therefore, data management plays a major role in the information technology in company. It lets
the company to develop and innovate its product which are mainly demanded by the customers

and also helps in maintaining the long term relationship with them by holding loyalty towards
them so that best services are offered to them by using the technology. IT also plays an immense
role in conducting the marketing activities whereby the communication and promotion of the
product or service is made easier as IT helps with good content and also helps in offering best
services so that market stability can be maintained. It also helps in expansion for company and
contributes in reaching the wide audience in short span of time.
Ethics and privacy issues
According to the perception of E Sargolzaei, 2021, information technology faces many
privacy and issues like data breach. It is referred to as the loss or leakage of the confidential and
important data of an organization (Cresswell, Bates, and Sheikh, 2017). This is considered as
the ethical and privacy issue as the Information technology provides the security but does not
offer full security or safety of the data and may lead to harming the goodwill of the company
which can also lead to loss. So companies are required to ensure that their data is safe and secure
and ensure their safety by development of the habit of preventive measure in order secure the
data.
Unauthorized access can be referred to as the access of the people on technical elements
who are not authorized and also whose intention is to spoil or destroy the reputation of the
company in marketplace. These people are required to stay away from the information which is
important for company and due to this issue, the concept of authorized access was introduced
where the authorized person is only provided access of the information or the technical element.
Hacking is an unethical conduct whereby the technical people tries to gain the control on
the system so that data can be fetched by them and system can be destroyed as well. The hackers
are the one who have mainly one motive which is to destroy the system of company so that
unauthorized revenue can be taken.
Viruses is another issue of information technology which is a kind of technical disease in
computer which enters the system by way of network, hardware or internet and corrupts the files
and also destroys the normal functioning of computers so that it can be stopped from working
(Fadel, and Rajab, 2017). It is important for company to update its system from time to time and

also requires the installation of application which can help in providing the protection from
viruses.
Kinds of network
As per the perception of Stephane Bourgeois, 2018, there are four types of networks in
the ambit of information technology which include LAN (Local area network) which covers
limited range of network and high speed of connection. The ownership of LAN belongs to
private individual and propagation delay is shortened. It has less congestion and it is easy to
maintain. Another type of network is WAN (Wide area network) which has a reach equivalent to
a city that’s why its speed is average. The ownership belongs to either private or public body and
propagation delay is mainly moderate. It has more congestion as compared to LAN and its
maintenance is difficult. Third type of network is PAN (Personal area network) which contains
the reach of network among the electronic device of a person contains high speed. The
ownership of PAN belongs to private person and its propagation delay is less as compared to
LAN. It contains less congestion and is difficult to maintain. Fourth kind of network is the MAN
(Metropolitan area network) which reaches across different countries and contains low speed.
The ownership belongs to public or private individual of the MAN and its propagation delay is
long. It has more congestion than the WAN and its maintenance is difficult as compared to LAN
as well as WAN.
Importance of social media
In the period of information and techniques all over the world, social media that plays an
important role in the business. There are a lot of social media user in the world as per to the
internet techniques that is growing in a rapid manner (Heitkemper, and et. al., 2017). It helps the
business for carry forward their operations. It comes in finance sector, banks and other media
platforms of the banks that are getting growing in the rapid manner to help the business for
performing their actions. Social media helps the main segment in finding of the goals and to get
help the business orientated term to gain competitive benefits. Explanation of importance of
social media in context of HSBC bank that are as follows :
• Advertisement: In this recent phase of business competitive world, as it is important for
each and every organisation to perform their advertisement for their products and facilities.

Advertisement is an essential function of the business in respect to maximise the sale of their
products and facilities. In banking sector advertisement has been performed in respect to
maximise their facilities. HSBC bank exercise the famous social media websites like Facebook,
Instagram and twitter in respect to effectively utilise for their services.
• Promotion: Social media websites helps in promotion and a good presentation of products
and services they have their focus on major multinational banks that use social media platforms
in respect to create the global promotion of their services (Joia, and Mangia, 2017). Promotion
creates more awareness in state of mind of consumer who are getting influenced by their services
of the product in the fine manner. HSBC presents the banking services on social media to create
the growth and development in its banking operations.
• Growth and development: Social media not only assist the management in promotion and
advertisement of products and their facilities but it also maximise the development and growth of
the business. It also leads to increase the manner of the business by helping the business in their
functions (Piercy, ed., 2018). Attraction that are concern by the social media as per to the
mindset of the consumer that helps in accommodation of sales and services of targeted orientated
factors of development in the management. HSBC has gained 30% media factor of development
as by using social media in its functioning, it means social media that plays an important role in
development of the business as effectively.
• Communication: Social media acts as the intermediate of the effective communication in
the management. The business that relates to social media can communicate with target
consumers that can directly accumulates all across the world (Stover, 2019). It plays an essential
role in the formulation of target consumers and their satisfaction as on the basis of social media
that provides to help and support to get resolves the consumer's queries. HSBC deals with the
targeted consumers by social media on regular basis and the bank that has also get developed
their separate team for activity of social media functions.
Discussion

It is concluded from the above report that IT plays an important role within functioning of
companies. This has become a vital as well as integral part of each and every business plan. In
context of inventory management system, it is concluded that organizations have to maintain
enough stock in order to manage the additional stock when it comes to pre-determined costs
(Thöni, and Tjoa, 2017). There are different systems which are best used when the quantities
within the company have to be managed in effective manner. There is POS system that is useful
for ensuring that every time the product must be sold out.
Data management system – The business era has changed and it is time for managing the things
according to new advancement of technology. It is seen that many companies are storing digital
versions of document on storage devices and servers. There are different companies which are
using big data technology today (Wallace, and et. al., 2017). This helps to manage the working
in efficient manner. There are most of the companies which are managing historical data and
managing the digital versions properly. There are different companies who are storing and
maintaining the data in order to use it in future.
Management information system – the storing of data is needed so that it can be used in efficient
manner. There are various progressive companies which are becoming the part of data
interpretation. The strategic planning is needed within companies to have efficient functioning
and reaching the productivity level. There is information within big data for maximizing the
return on investment and identifying the areas for improvement. By using this, managers and
leaders are able to track sales on daily basis. This allows them to track sales on regular basis. It
helps in immediately reacting to lower the expected numbers and boosting the productivity. This
leads to minimize the cost of product or item.
Customer relationship management – There are lot of companies which are using IT in order to
improve the way in which they are designing and managing the customer relationship (Zheng,
and et. al., 2018). The CRM system is involved in capturing different interactions effectively so
that enriching of experience can take places. CRM helps to manage the interaction between
client and business. The entire interaction is managed and stored in CRM system for calling the
customers.

There are different major IT functions which are involved in companies. These include
Governance, infrastructure and functionality. In context of governance, it is seen that
implementation of operations is done in efficient manner.
Recommendation
It is recommended for the company that as IT plays a vital role in the banking sector as
it helps in conducting secure and safe transactions in its operations. HSBC bank should deploy
talented IT professionals in its functioning in order to develop effective and efficient
transactions. HSBC bank should adopt full digitization and convert all its traditional methods
into IT methods. HSBC bank should focus more on cybersecurity issues in order to fix various
issues that are raised by the customers. Cybersecurity issues arise in the banking operations
often, they eventually impact on customer's precious data related to credit cards, debit cards and
account information. It is the major responsibility of HSBC bank to construct more secure
servers that protect crucial information of the customers. HSBC bank should also deploy
professional surveillance systems in every branch to keep an eye on its day to day activities. Use
of professional surveillance systems will also attract more customers from the society and it will
also help the bank to lead the global market. HSBC bank should also focus on deploying
machines with Artificial Intelligence in its banking operations in order to minimize workload of
the human beings. More use of artificial intelligence will also lead bank to conduct functions in a
quick manner.
Conclusion
From the above report, it can be concluded that It is useful in business organizations
effectively. This is useful for managing and controlling the activities and business operations in
more prominent manner. Telecommunication is helpful for companies to manage employees
properly. There are different conferencing systems that have to take place and these allow
participants to manage the videoconferences that take place. Collaboration between employees is
the most essential way that is needed for completing the projects effectively. It helps to
improvise the productivity of mobile employees. There are different companies that improve
effectivity and efficiency of the company. There are different ways to update the customer
records and place new orders appropriately. There are different companies which are using IT for
improving the manner in which companies design and manage the customer relationship.

Practically all corporations, large or minor, have an Information Technology -- or IT department
that holders all the industrial issues that arise. Largely, they may be saw as people who restart the
system or come to location to reinstall innovative software. Even though they accomplish these
responsibilities from time to time, they're truly much more vital to the success of a business.
They widespread many further tasks overdue the scenes than societies should manage.

REFERENCES
Books and Journals
Clarkson, A., 2019. Toward effective strategic analysis: new applications of information
technology. Routledge.
Cresswell, K. M., Bates, D. W. and Sheikh, A., 2017. Ten key considerations for the successful
optimization of large-scale health information technology. Journal of the American
Medical Informatics Association. 24(1). pp.182-187.
Fadel, S. and Rajab, H., 2017. Investigating the English Language Needs of the Female Students
at the Faculty of Computing and Information Technology at King Abdulaziz University
in Saudi Arabia. English Language Teaching. 10(6). pp.69-82.
Heitkemper, E.M., and et. al., 2017. Do health information technology self-management
interventions improve glycemic control in medically underserved adults with diabetes?
A systematic review and meta-analysis. Journal of the American Medical Informatics
Association. 24(5). pp.1024-1035.
Joia, L. A. and Mangia, U., 2017. Career transition antecedents in the information technology
area. Information Systems Journal. 27(1). pp.31-57.
Piercy, N. F. ed., 2018. The Management implications of new information technology (Vol. 41).
Routledge.
Stover, W. J., 2019. Information technology in the third world: Can IT lead to humane national
development?. Routledge.
Thöni, A. and Tjoa, A. M., 2017. Information technology for sustainable supply chain
management: a literature survey. Enterprise Information Systems. 11(6). pp.828-858.
Wallace, C., and et. al., 2017. Information technology and social cohesion: A tale of two
villages. Journal of Rural Studies. 54. pp.426-434.
Zheng, Y., and et. al., 2018. Conceptualizing development in information and communication
technology for development (ICT4D).