Strand 2: Application to Specified Scenario; Business and Employment

For the rest of the semester will be studying IT systems in specified application areas.

We will be looking at IT in Banks.

• What are the different IT systems, hardware, softwares, types of computers, apps used in banks?
• Identify the different stakeholders involved in the banking industry?
• With evidence from research, name at least 2 Commercial Banks that use IT extensively. Describe how IT is used in these banks. https://www.intellias.com/digital-banking/

 https://www.expresscomputer.in/interviews/how-bank-of-baroda-is-using-technology-  extensively-for-its-operations/45212/

              10 Features of  a digital bank
              https://groww.in/blog/10-digital-banking-features-need-know/

• There are unique social and ethical issues associated with the use of IT systems / technologies within the banking industry, describe such issues with evidence from research.

           https://www.cigniti.com/blog/6-challenges-digital-banks-e-wallets-2017-overcome/

           https://blog.inboundfintech.com/5-issues-and-challenges-in-the-online-banking-sector
           Security concerns
           https://codete.com/blog/5-critical-cyber-threats-in-banking-for-2020/
            Surveillance in banks
            https://bfsi.eletsonline.com/12-ways-banks-use-esurveillance-to-fight-crime-financial-losses/

• Examine the impact of using IT within the banking industry; (Advantages and Disadvantages) http://pioneerjournal.in/conferences/tech-knowledge/15th-national-confernce/3899-benefits-of-it-in-banking-sector.html

          https://sourceessay.com/advantages-and-disadvantages-of-e-banking/

         

          https://www.gobankingrates.com/banking/banks/disadvantages-advantages-of-online-banking/

         https://www.vapulus.com/en/digital-banking-advantages/

• There are some common problems associated with using IT system in the banking Industry (Different from social & ethical issues) i.e (the cost of implementing new technology). Identify 5 such problems and describe some of the solutions that banks have put in place to address these problems. (Use evidence from research wherever possible)

            https://www.information-age.com/technology-finance-banking-sector-123471800/

           https://www.safeguardcyber.com/blog/5-digital-transformation-challenges-facing-the-retail-banks-how-to-overcome-them

          https://thefinancialbrand.com/77228/technology-trends-disrupting-financial-services-banking-future/

• What IT future developments do you foresee in the banking industry and why?
• https://www.forbes.com/sites/bernardmarr/2019/11/08/the-7-biggest-technology-trends-to-disrupt-banking--financial-services-in-2020/#4399e1d72c42
• https://towardsdatascience.com/emerging-technology-trends-for-banking-industry-in-2020-beyond-b6ec30f2c102

Examples of Banking Software solutions
https://gomedici.com/18-banking-software-providers-powering-online-banking/
https://www.trustradius.com/banking
https://www.goodfirms.co/banking-software/

Banking Hardware
https://bizfluent.com/how-does-5815095-do-money-counters-work-.html

Computer Types used in banks
https://www.ehow.co.uk/list_7219907_types-computers-used-banks.html
https://bizfluent.com/about-5065903-swift-messaging.html

Mobile Banking Apps
https://smartasset.com/checking-account/2018-best-mobile-banking-apps

Main Banking Stakeholders
https://www.researchgate.net/figure/Internal-and-External-stakeholders-of-financial-institutions_fig1_322235041

http://raportcsr.bankmillennium.pl/sites/millennium14csr/files/banks_stakeholders.pdf

Quiz
http://www.quiz-maker.com/QRRKM1N


A good Read
Technological challenges faced by Banks
https://www.sonda.com/en/columns/the-technological-challenges-facing-the-banking-se/