Background of ANZ Bank

Discuss About The Strategic Information System Of ANZ Bank?

As pointed out by Akman and Mishra (2015), the strategic information system is helpful for easing the flow of operations and deploying effective and improved services for the organization. The following report deals with the analysis of the ANZ bank case study. ANZ bank is one of the most renowned occurrences.

The report analyzes the Australian and New Zealand Banking Group Limited Bank. The business management process of ANZ Bank is explained in this report. This report also deals with the software requirements of the ANZ Bank and the selection of software and the vendor that is needed by the ANZ Bank. This report states three different ways of technologies that are needed by the ANZ Bank and their related potential risks. The issue depicted in this scenario is the data breach. The data breach occurred at ANZ bank and the possible solutions for avoiding the occurrence of the security issue has been given in the following report.

The ANZ bank holds an integral position in the financial market sector of Australia and New Zealand. It is analyzed that the overall capital of ANZ bank is about 93.4 billion AU$. However, in their annual report of 31^st March, 2013, the company has an overall asset of over 896.5 billion AUD. The market coverage of the ANZ bank is stretched to regions of New Zealand, America, Europe and Middle East. The work of the ANZ Bank is to give service to the retail customers, commercial customers and also the institutional customers. The Australia and New Zealand Banking Group Limited Bank works with 46000 staffs working in the bank. The corporate and customer offerings in the banking sector are being offered throughout the regions of market expansion of ANZ Bank. There are near about 550,000 shareholders that are associated with the bank among which about 72.5 percent of the total shareholders are domestic and the rest are retail.

The target of the Australia and New Zealand Banking Group Limited Bank is making the world to shine with all its communities and the people living in the world. A balanced as well as a sustainable economy is created by the ANZ bank to make life to lead properly. The main focus that ANZ Bank focuses to is not only on financing sector or the facilitating sector, but also focuses to provide opportunities which relates to families, businesses, families and also individuals. Many difficulties are looked by the ANZ Bank with the evolving advancements, evolving globalization, statistic diagrams and furthermore environmental change. The Bank also provides opportunities that encourage the sustainable growth of the economy and also economic participation. The Australia and New Zealand Banking Group Limited Bank inspires businesses to grow and also helps the individuals by providing services and network in the banking sector of Asia. The funds that are finished by the people in venture, to manufactured private companies to huge organizations and to take all the little endeavors to global level is crafted by ANZ Bank. The bank helps to rebuild the old enterprises and helps them to evolve. The ANZ Bank provides ideas and helps to change those ideas and provide hard work and ambition to reality.

Business Processes

Numerous systems are trailed by the ANZ Banking Group Limited Bank during the time spent business forms. The business processes that are used in the ANZ Bank have many strategies. Making use of strong foundation is the strategy that is used by the ANZ Bank. A strong foundation is created between Australia and also New Zealand (Ravichandran, Taylor and Waterhouse 2016). The strategies make to lead the market and also provide geographic footprints which are distinctive. The customer’s need and also to meet the need of customer are observed in the strategy of ANZ Bank. To capture all the opportunities which links the regional trade as well the capital flow are maintained in the strategy. A unique type of mixed access is given to the partners who are related with the ANZ Bank which has high returning introduction in the Asian area are trailed by the techniques. The technique that is trailed by the ANZ Banking Group Limited Bank has basically four components. They are as follows:

1. The principal strategy is to make a bank that serves their subjects as best in the nation of Australia and furthermore New Zealand for clients who has independent ventures.
2. The second strategy is to make the bank the best bank in the world for all customers who drive their capital flow and also the regional trade.
3. Third strategy builds up the foundation which is principally in the advanced division and furthermore the bank manages control and the scale, understanding of the client in wide range.
4. The last strategy that is followed by the Australia and New Zealand Banking Group Limited Bank is that it should be able to mitigate all the risk that comes in the organization and has principles of risk management must be implemented in the bank so that the customer data are saved.

The Australia and New Zealand Banking Group Limited follows some strategic properties. The property of strategic that is followed by business process is to create a simple and a bank that is balanced bitterly to reduce the cost of operation and reduces the risk that comes from the management complexity. The strategy property that also selects some particular areas where there is a chance of Australia and New Zealand Banking Group Limited Bank to flourish in the market. The strategy is to focus on small organizations that are situated in Australia and New Zealand by providing them capital as a loan. The property of strategy that is followed by ANZ Bank is to make banking solutions that are more convenient which helps to simplify the life of all the customers so that a digital life can be started.

The ANZ Banking Group Limited Bank requires some business necessities that are utilized as a part of their business forms. Business requirement is firstly to know the need of the bank in a particular region where the owner decides to open the bank. After deciding the need to open the bank, all the board of directors that are needed to make the strategic plan of the business are appointed and the work of board of directors is also to keep a look on the all the employees to see that they follows policies and the concerned rule of the organization (Moradi-Motlagh and Babacan 2015). The most important business requirement of Australia and New Zealand Banking Group Limited Bank is to have a good amount of money which is invested in the operations. The Board of Directors investigate on all these processes and then decides to approve the plan to start a business after which a summary plan is made with all the policies and the procedures made for coming five years. A legal team for supporting all these works is hired and starts with the business that is just starting up. The frameworks of hazard administration are to be remembered with the goal that the representatives and also the client don’t confront any hazard. A specialist team is hired to reinvestigate the plan that is made and to set up all required plan and also contribute the community. The last period of necessity is the business prerequisite is to apply state lawful sanctions and government legitimate contracts of the state.

Business Requirements

ANZ Banking Group Limited Bank requires numerous frameworks for working up business process. Internet Banking is one of the most important systems that are required in the Australia and New Zealand Banking Group Limited Bank (Minervini and Napier 2013). The application of the internet banking of the Australia and New Zealand Banking Group Limited Bank works efficiently if the OS that is the operating system has Safari Browser, Opera, Google Chrome, Firefox and many such browsers that are installed on the Operating System. Google Chrome works best with Windows 7, 8 and 10 and also Mac OSX. The browser Internet Explores works with Windows 10, Windows 7 and 8. Safari Browser only works with Mac OSX and the Browser Firefox works with all operating systems. Opera works only with windows 7 and Windows 10.

The mobile and tablets software are also used to access the internet banking facility of Australia and New Zealand Banking Group Limited Bank. To access the Internet Banking of the ANZ Bank, a separate website is available. The website of the bank works with all those browsers and also works smoothly so that the customers do not come across any problem while browsing with the site of the bank. The application of the ANZ Banking Group Limited Bank does not function admirably with more seasoned program rendition. In the event that the clients have more established variant of program, they won’t have the capacity to login. They must always keep their system updated to have access on the site of the bank. Beta variants of the programs are not in the least upheld by the ANZ Banking Group Limited Bank. The site of Australia and New Zealand Banking Group Limited Bank also do not support other open sources that are manufactured by beta version as well.

Selecting a proper vendor for the Enterprise Resource Planning of an organization is a very crucial work. It is one of the most basic process that all the business and organization are to deal with (Krajewski, Ritzman and Malhotra 2013). The product procedure that the ANZ Banking Group Limited Bank includes are the Enterprise Resource Planning known as ERP, Customer Relationship Management known as CRM, finance and HR, protection, purpose of offer, venture administration, utility charging, and group advancement. Many vendors and software systems are available in the market which can be followed by the business processes. There are certain criteria on which the Vendor selection process depends on. The processes that the Australia and New Zealand Banking Group Limited Bank looks on while selecting a vendor are: definition requirements, business processes review, script development, software demonstration of facilitation, calling facilities, interview requirement and evaluation of RFP or the software response. All these processes should be related to headquarters related facilities of all the software visitors, user interference, analysis and the facilities and also for the board presentation.

System Requirements

To keep up the system that is territorial in ANZ Banking Group Limited Bank, the bank has chosen the Misys Loan IQ as its product merchant so they can lead all their operation all around. The Misys Loan IQ helps the Australia and New Zealand Banking Group Limited Bank to deliver a managing system that is used in its basic commercial loan so that the bank can meet the needs that are related to corporate and the institutional banking and commercial banking sectors (Klettner, Clarke and Boersma 2014). Their selected vendor provider helps them to give an experience that is stable to all the customers and also manages all the revenues in much better way. A standardized group of process is also provided by Misys so that all the risk factors and the factors to manage the risks can be regulated along with compliance.

The solutions which the Misys vendor provides are rich in feature and also give workflows in a robust way. The Australia and New Zealand Banking Group Limited Bank can take operational processes from their Misys vendor so that they can consolidate the lending business of institution and commercial region. Automatic process and standardization of taking loans are provided by the Misys vendor for their future growth. All procedures that the ANZ Banking Group Limited Bank needs are for the most part safely gave by the Misys Loan IQ programming merchant. The ANZ Bank has selected its vendor only after verifying all its functionality that the vendor can provide.

1. Customer’s journey digitally monitored

The fulfillment of the client is checked by the ANZ Banking Group Limited Bank by a procedure known as digitization. In the event that the client faces any troubles in digitization process, the nearby staffs are educated promptly about the issue. This provides a positive feedback among the customers of the bank (Cummings and Durrani 2016). The needs of all the customers are well understand by the bank and improve the issues which results the satisfaction of all the customers and a hike on revenue growth is also viewed up to a level of 15 percent. The digitization process also helps to reduce the cost of service to their customers. Some branches of Australia and New Zealand Banking Group Limited Bank make use of ipads that helps the employees to get access on the customer’s experience from any place they want. To get service from the bank any time the customer wants makes the customers very happy.

1. Digitization process which done end to end is needed

The back office mainly creates dissatisfaction for the customers. The customer feedback that comes is mostly because of the works from the end office. Digitization process must be involved in all the function of the bank to do all the works automatically (Coles-Kemp and Hall 2016). Digitization of end to end is to be maintained so that all the functions of the bank from middle to end office. The cost of substantiality is also reduced and creates a value and a scale for the business. To increase the digital strategies of the customers, mainly mobile devices are used to communicate between bank and the customers.

1. Go Global

The fundamental test that is looked by the digitization is exploring the socio-economics of the clients and furthermore the controls are various. The complexity of the market also plays problem to the business to extend globally. Digital strategy is localized by the Australia and New Zealand Banking Group Limited Bank so that they can give their customers a better service. The needs of all the customers are well understand by the bank and improve the issues which results the satisfaction of all the customers. The Australia and New Zealand Banking Group Limited Bank builds up a business that is agile and gives efficiency and also collaboration to ANZ Bank customers.

There are numerous issues that the ANZ Banking Group Limited Bank faces and was under weight with the goal that they needed to diminish their effectiveness and also the efficiency. The Australia and New Zealand Banking Group Limited Bank’s technology department purchases applications that helps the bank to reduce such problems and also starts the integration process among all the application of the enterprise (Chuang and Hu 2015). This helps to increase the demand among the customers. The Australia and New Zealand Banking Group Limited Bank realized that only by adding tools and required processes for the increase of the automation of the company and efficiency. The methods that the company uses can be much improved. To get a testing of six weeks, the team of Australia and New Zealand Banking Group Limited Bank will have to involve two week getting the actual environment that is required. The Australia and New Zealand Banking Group Limited Bank needed good traceability so that they are able to demonstrate all the processes and regulations. The management and testing environment is improved by the Australia and New Zealand Banking Group Limited Bank by its cohesive initiative. They have used 26 solutions to improve the testing environment.

Distinctive sorts of security dangers and hazard appraisal advances are utilized by the ANZ Banking Group Limited Bank. The bank must have a string protection against the data breach that can take place in their system. The bank prone to security risks in the areas of Trojans, viruses and phishing and spyware. The type of security risk that phishing deals with is that where the cyber space attackers gets the personal data of all the customers via internet. The phishing is done mainly by hoax emails that come as legal institutions. This hacking process is done online (Bowman et al. 2017). There is software known as spyware that attacks the system by converting all the data of the user in internet that are not even downloaded. This is one of the hazardous dangers that the ANZ Banking Group Limited Bank faces. Another software known as virus attacks the system of ANZ Bank. It is software that gets attached itself to programs that are mainly in word or spreadsheet. There are also emails virus programs that attack the Australia and New Zealand Banking Group Limited Bank. Trojans are set of codes or programs that attack the system in as a harmless application. Trojans are mainly self dependent.

The Australia and New Zealand Banking Group Limited Bank faced a data breach which leads the security of the bank at risk. The virus that attacked the Australia and New Zealand Banking Group Limited Bank hide itself and does not allow the ban to know that it has affected any of the programs. All the controls are taken against the files and the usernames and ids are all captured which are personal details of the customers.

The Australia and New Zealand Banking Group Limited Bank imposes a number of policies and risk control that are maintained in the organization. The bank has a framework to mitigate and maintain the risk that comes to them so that they are able to manage the social risks, environmental risks and also the reputation risks. The policies that are given by the government help to mitigate the risks that come to the organization (Akman and Mishra 2015). The primary management of the ANZ Banking Group Limited Bank is to feature every one of the choices that are essential in notoriety of the bank which incorporates loaning cash, endorse the items which help to loan cash to every one of the clients and furthermore looks to the planning part. Policies are implemented by the reputation risk support team of the Australia and New Zealand Banking Group Limited Bank so that employees are able to mitigate the complex as well as controversial issues.

Conclusion

The main focus that ANZ Bank focuses to is not only on financing sector or the facilitating sector, but also focuses to provide opportunities which relates to families, businesses, families and also individuals. Many difficulties are looked by the ANZ Bank with the evolving advances, evolving globalization, statistic charts and furthermore environmental change. Business requirement is firstly to know the need of the bank in a particular region where the owner decides to open the bank. After deciding the need to open the bank, all the board of directors that are needed to make the strategic plan of the business are appointed and the work of board of directors is also to keep a look on the all the employees to see that they follows policies and the concerned rule of the organization. The bank must have a string protection against the data breach that can take place in their system. The bank prone to security risks in the areas of Trojans, viruses and phishing and spyware.

In this report the contextual investigation that is managed is the ANZ Banking Group Limited Bank. The business process of ANZ Bank is explained in this report. This report also deals with the software requirements of the ANZ Bank and the selection of software and the vendor that is needed by the ANZ Bank. This report states three different ways of technologies that are needed by the ANZ Bank and their related potential risks. Data breach additionally occurred in the ANZ Bank which is portrayed obviously and all the hazard rules to moderate hazard in the ANZ Banking Group Limited Bank are depicted quickly.

References

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Bowman, D., Banks, M., Fela, G., Russell, R. and de Silva, A., 2017. Understanding financial wellbeing in times of insecurity.

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.

Coles-Kemp, L. and Hall, P., 2016. TREsPASS Book 2: Summer School.

Cummings, J.R. and Durrani, K.J., 2016. Effect of the Basel Accord capital requirements on the loan-loss provisioning practices of Australian banks. Journal of Banking & Finance, 67, pp.23-36.

Klettner, A., Clarke, T. and Boersma, M., 2014. The governance of corporate sustainability: Empirical insights into the development, leadership and implementation of responsible business strategy. Journal of Business Ethics, 122(1), pp.145-165.

Krajewski, L.J., Ritzman, L.P. and Malhotra, M.K., 2013. Operations management: processes and supply chains (Vol. 1). New York, NY: Pearson.

Minervini, J. and Napier, C., 2013. Next generation MDM-the new 360 view.

Moradi-Motlagh, A. and Babacan, A., 2015. The impact of the global financial crisis on the efficiency of Australian banks. Economic Modelling, 46, pp.397-406.

Ravichandran, A., Taylor, K. and Waterhouse, P., 2016. Manage. In DevOps for Digital Leaders (pp. 105-122). Apress.