ICT

ICT IN BUSINESS

Have a little read: ... Advanced GNVQ Business: ICT in business Information Communication Technology (ICT) is a major part of the new era of banking. It allows banks to reach out to a new type of customer and allows customers to use the business on line. But how has ICT affected the way banks operate as a business? In this report I will try to investigate how information technology has affected the way banks operate.

I can do this by separating the report into four sections. They are: 1. What is E-Commerce and what affect it has had on banking 2. What are the recent developments in IT? 3. How are the recent developments in IT used in banking? 4. What is the potential use of IT in the future? At the end of this assignment I hope to be able to understand how IT affects banking in the present and how it will affect it in the future. What is E-Commerce and what affect has it had on banking Electronic Commerce is when business' start trading over the internet so they can reach out to a different type of customer and also allow their existing customers the chance to use their company without leaving the comfort of your own home.

 This can be seen from retail outlets such as Tesco's or Sainsbury's, which gives their customers the chance to order the food they want from the supermarket and a member of staff will bring the goods that you want directly to your home. However E-Commerce has a special part to play when banks start to use the Internet for their own benefits. In this day and age more and more companies are trying to make a customers life easier and technology has helped in a major way. When concerning banking, customers are now able to use ATM'S, telephone banking and personal transactions. This enables the customer to cut out the middlemen and do what you want with the money at a quicker rate. However E-commerce just takes it that little step further. If you have the Internet on a computer, television or mobile phone then you will be able to deal with E-banking. This process allows you to see your account, make transactions to and from your bank account and make standing orders from the comfort of your own home. This again allows you to cut out the middleman and this process is so much quicker than if you went to the