Discuss About The Governance Strategic Risks In Systemically.
The “Australia and New Zealand Banking Group” is one of the largest banking group in Australia after Commonwealth Bank and Westpac Banking Corporation. Various operations of Australia is responsible for making the largest part of the business of “Australia and New Zealand Banking Group” (anz.com, 2018). Australia and New Zealand Banking Group are also commonly known as ANZ. It is the largest bank of New Zealand as well.
ANZ bank is associated with providing various types of services in Australia as well as in New Zealand. ANZ has an experience of many years on a full range of the banking products and services. It is also known for its expertise and reliability in operations starting from cash flow to complex deals related to financing (Gibson-Graham, 2014). Services provided by ANZ include “Financing, Transaction services, Investments, Risk management, International service and FX and Insurance and superannuation” (anz.com.au, 2018).
ANZ is associated with various types of operations in that they’re having various types of departments so as to continue with their operations. And to favor its different operations they make use of the Information Technology (Chuang and Hu, 2015). Some of the departments of ANZ and how they make use of the IT. Personnel or HRD department: This department of the bank is associated with the recruitment of manpower for the organization along with this they are also associated with identification of vacancies, updating of the employees with the latest technology and many more (Stockport et al., 2012). They use IT so as to store all the vital data of every employee along with finding new employees and store their data as well. Later this information stored can be used for various purposes.IT and testing department: There exist several technical types of equipment so as to check all the networks along with the various devices that are being used by the bank employees so as to perform their daily tasks. Along with there are also other departments that make of the IT infrastructure so as to perform the various works.
The following data structure and IT infrastructure are used by ANZ for achieving success:
The diagram provided below depicts the systems that support the ANZ Transactive from end-to-end. For the operation of all the applications feature there is a need of relying on a number of ‘Plug-ins” and configurations so as to host the client side within the web browser (Taylor & Wagland, 2013). The communication between the customers and the bank totally depend on the` encryption of the connections that is the “Hypertext Transfer Protocol”. The traditional browser is associated with requesting the Bank and those from the applets used so as to use such connections which are shown in the figure.
The data transfer between the customer of ANZ and the bank is carried by making use of the 128-bit SSL encrypted channels. Like other applications the ANZ Transactive present within the Bank is also audited on a periodic basis by ANZ Group’s specialist security team so as to make sure about the compliance with the Group standards and policies (Moradi-Motlagh & Babacan, 2015). Along with this the ANZ Transactive has also undergone certain extensive Security and Penetration testing, to ensure the system’s safety.
There are seven layers of internet model and this includes the following:
ANZ or Australia and New Zealand banking group makes use of the WAN or wide area network. As this type of network would help in connecting different local area networks. This helps in connecting different branches of bank together. WAN technology is used because it helps the bank in carrying out its various operations regardless of the geographical location of the various branches. This also helps them in sharing their official data very easily (Kuzlu, Pipattanasomporn & Rahman, 2014). The computers of the bank of capable of communicating with the other computers of the bank located at some other geographical location.
References:
Akman, I., & Mishra, A. (2015). Sector diversity in green information technology practices: technology acceptance model perspective. Computers in human behavior, 49, 477-486.
anz.com. (2018). Anz.com. Retrieved 23 March 2018, from https://www.anz.com/Documents/AU/corporate/techspecguide.pdf
anz.com.au. (2018). ANZ Personal Banking | Accounts, credit cards, loans, insurance | ANZ. Anz.com.au. Retrieved 23 March 2018, from https://www.anz.com.au/personal/
anz.com.au. (2018). Business products and services | ANZ. Anz.com.au. Retrieved 23 March 2018, from https://www.anz.com.au/business/products/
Bhushan, P. (2014). Relationship between financial literacy and investment behavior of salaried individuals. Journal of Business Management and Social Sciences Research, 3(5), 82-87.
Bora, G., Bora, S., Singh, S., & Arsalan, S. M. (2014). OSI reference model: An overview. International Journal of Computer Trends and Technology (IJCTT, 7(4).
Chuang, C.C. and Hu, F.L., 2015. Technology strategy-innovating for growth of ANZ Bank. International Review of Management and Business Research, 4(3), p.682.
Craigie, R., Gillmore, D., & Groshenny, N. (2012). Matching workers with jobs: how well is the New Zealand labour market doing?. Reserve Bank of New Zealand Bulletin, 75(4), 3-12.
Gibson-Graham, J. K. (2014). Being the revolution, or, How to live in a “more-than-capitalist” world threatened with extinction. Rethinking Marxism, 26(1), 76-94.
Harorimana, D. (2012). Impact of CRM Systems on Organizational Performance: A case study of ANZ Bank.
Kuzlu, M., Pipattanasomporn, M., & Rahman, S. (2014). Communication network requirements for major smart grid applications in HAN, NAN and WAN. Computer Networks, 67, 74-88.
Lee, J. H., Lim, W. G., & Lim, J. I. (2013). A study of the security of Internet banking and financial private information in South Korea. Mathematical and Computer Modelling, 58(1-2), 117-131.
McConnell, P. (2012). The governance of strategic risks in systemically important banks. Journal of Risk Management in Financial Institutions, 5(2), 128-142.
Moradi-Motlagh, A., & Babacan, A. (2015). The impact of the global financial crisis on the efficiency of Australian banks. Economic Modelling, 46, 397-406.
Nidar, S. R., & Bestari, S. (2012). Personal financial literacy among university students (case study at Padjadjaran University students, Bandung, Indonesia). World Journal of Social Sciences, 2(4), 162-171.
Stockport, G. J., Godley, M., Guagliado, D., Leung, O., Mercer, B., Varma, G., & Wong, S. (2012). ANZ Bank: Building a strategy for Asia. South Asian Journal of Business and Management Cases, 1(1), 31-41.
Taylor, S., & Wagland, S. (2013). The solution to the financial literacy problem: what is the answer?. Australasian Accounting Business & Finance Journal, 7(3), 69.
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