Computing for bankers

OVERVIEW OF BANKING INFORMATION

PROTECTION OF CUSTOMER DATA.

SYSTEM

AND

The banking system consists of the information system of People Banking Regulatory
Commission and its subordinate departments, state-owned commercial Bank. Its security is
directly related to national economy form and people's livelihood. The informationization of
bank business is walking in front across the country. From the planning perspective, the
information and network security construction of the banking system is closely related to an
electronic, informationalized and networked banking system.
Connecting the modernization of financial risk regulatory with the regulatory to the
electronic, informationalized and networked risk of finance closely is the fundamental way of
building a good banking information and network security system.
(1). the security problem of bank network behaviors and contents is actually the problem of
bank risk regulatory. Not only should bank risk regulation check the banking business-related
behavior results of banks, client personnel and the people in the real world, it also has to
check the behaviors of users, systems and agents in the virtual world.
In fact, bank risk regulation has to build a modern banking regulation and regulate the bank
informationalization. The regulation of bank behaviors and contents can be divided into three
levels:
The first level is mainly the basic regulation to the credibility, availability integrity and
confidentiality of the behaviors and the credibility, confidentiality and integrity of the
contents;
The second level is risk classification regulation in accordance with the requirements of the
Basel Capital accord;
The third level is to complete enterprises comprehensive risk regulation, including money
flow, flow regulation.
(2). To commercial banks, information security situation of business operation of the banking
industry is mainly related to the bank value management information system, the resource
management information system, bank products and services management information
system, bank risk regulation system, bank clients management information system, banking
e-commerce public channel management system(the network banking system and banking
self-service system, etc.),
Bank e-commerce big clients channel management system, bank gateway and office system,
bank management center, bank operating center system (calling service center, electronic
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ticket center and information exchange center, etc.), bank development center system and
disaster center system, etc.
For these business information systems, due to a high security awareness of the banking
system and leaders attention, the security work of the banking system starts early. The
relevant standards and specifications have been formulated, and security planning has also
been partly implemented. Basic security protection and monitoring system has been set up by
widely adopting such key security products as firewall, intrusion detection systems, and
encryption. But due to the lack of funds, there still exist many shortcomings in security
construction and many potential security risks and problems.

(3) Bank network system security situation: current bank network security problems show up
at the security after the data centralization. Its features are the data service centralization, the
powerful pre-communication center and the architecture of numerous local and remote
terminal centers. The most prominent problems are the construction of emergency system of
disaster preparedness, isolation among multiple systems, isolation between production private
network and public network isolation, access control, offshore outsourcing services, key
nodes security, large-scale intrusion detection and protection, the remote control and hidden
channel of imported social security, security training, etc. Among them, the security and
connection problem between the e-bank public channel and the bank and big client channel is
an important content of the construction of risk regulation and bank information security.
with the increasing popularity of computer knowledge and the globalization of financial
network development, the technology of computer crime is also rising and the number of
crime cases using computer presents an upward trend which urgently requires a higher
security protection system for the bank information system.

Analysis and Suggestions to the Security of Bank Information System

At present, the information security problems concerned bank users are mainly client privacy,
users rights, the security of information content, client trusted access to bank network, etc.
Specifications as follows:
After fully integrating the construction of bank information security, we will build security
assurance, emergency and regulatory system for bank information. While taking into account
of information security assurance system, the banking system should conduct security
construction about the standard control and management center, the data and content security,
computing environment security, border security, information infrastructure security, digital
certificates, disaster preparedness, business behavior regulation and services.
From security perspective, banks should check once again the security construction of
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application data concentration and at the same time pay enough attention to the security of
bank key ISP, ICP. We should establish a powerful network management and standardized
supervision center which will execute the unified supervision to data management,
System management, network management, security management, key management, internal
staff behavior monitoring, agent management, network remote service monitoring and
standardization.
Banks should implement multi-star, multi-repeater backup, universe backup projects by using
satellite communication system as soon as possible, which can provide a stable and reliable
environment for banking system communication.
The security construction of the isolation between the private network and the public
network.
The
security
construction
of
bank
outsourcing
services.
The construction of security detection, supervision, audition and tracking and positioning
system. Formulating the standard and training for security emergency.

THE TECHNOLOGIES THAT CAN BE USED TO PROVIDE BANKING

SERVICES TO REMOTE AREAS.

The New Era the 21st century will bring about an all-embracing convergence of computing,
communications, information and knowledge. This will radically change the way we live,
work, and think. The growth of high speed networks, coupled with the falling cost of
computing power, is making possible applications undreamed of in the past. Voice, data,
images, and video may now be transferred around the world in micro-seconds.
This explosion of technology is changing the banking industry from paper and branch banks
to' digitized and networked banking services. It has already changed the internal accounting
and management systems of banks. It is now fundamentally changing the delivery systems
banks use to interact with their customers.
All over the world, banks are still struggling to find a technological solution to meet the
challenges of a rapidly-changing environment. It is clear that this new technology is changing
the banking industry forever. Banks with the ability to invest and integrate information
technology will become dominate in the highly competitive global market.
Bankers are convinced that investing in IT is critical. Its potential and consequences on the
banking industry future is enormous. Technology and Banks Transformation

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Consistent management and decision support systems provide the bank that competitive edge
to forge ahead in the banking marketplace.
Major applications. The advantages accruing from computerization are three-directional - to
the customer, to the bank and to the employee.
For the customer. Banks are aware of customer's need for new services and plan to make
them available. IT has increased the level of competition and forced them to integrate the new
technologies in order to satisfy their customers.
They have already developed and implemented a certain number of solutions among them:
Self-inquiry facility: Facility for logging into specified self-inquiry terminals at the branch
to inquire and view the transactions in the account.
Remote banking: Remote terminals at the customer site connected to the respective branch
through a modem, enabling the customer to make inquiries regarding his accounts, on-line,
without having to move from his office. Anytime banking- Anywhere banking: Installation of
ATMs which offers non-stop cash withdrawal, remittances and inquiry facilities. Networking
of computerized branches inter-city and intra-city will permit customers of these branches,
when interconnected, to transact from any of these branches.
Telebanking: A 24-hour service through which inquiries regarding balances and transactions
in the account can be made over the phone. Electronic Banking: This enables the bank to
provide corporate or high value customers with Graphical User Interface (GUI) software on a
PC, to inquire about their financial transactions and accounts, cash transfers, cheque book
issue and inquiry on rates without visiting the bank.
Moreover, LC text and details on bills can be sent by the customer, and the bank can
download the same. The technology used to provide this service is called electronic data
interchange (EDI). It is used to transmit business transactions in computer-readble form
between organizations and individuals in a standard format. As information is centralized and
updates are available simultaneously at all places, single-window service becomes possible,
leading to effective reduction in waiting time

MEANING OF THE CLOUD AND ITS BENEFITS TO THE

ORGANIZATION.

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The Cloud is an all-encompassing term for a virtualized information technology (IT)

computing environment in which individuals and businesses work with applications and data
stored and maintained on shared machines in a web-based environment, rather than
physically located in a users location. Google's popular email system, Gmail, is an example
of the cloud, but this is just one model.

There are actually three cloud service models infrastructure as a service, platform as a
service, and software as a service deployed in four types of settings private,
community, public, and hybrid clouds.
Service models Infrastructure as a service (IaaS) provides access to server hardware,
storage, network capacity, and other fundamental computing resources.
Platform as a service (PaaS) provides access to basic operating software and services to
develop and use customer-created software applications.
Software as a service (SaaS) provides integrated access to a providers software
applications.
Deployment models. Private cloud is accessible from an intranet, internally hosted, and
used by a single organization. Community cloud has infrastructure accessible to a specific
community. Public cloud is accessible from the internet, externally hosted, and used by
the general public.
Hybrid cloud is a combination of two or more clouds. Cloud benefits Cloud computing
provides a scalable online environment that makes it possible to handle an increased
volume of work without impacting system performance. Cloud computing also offers
significant computing capability and economy of scale that might not otherwise be
affordable, particularly for small and medium-sized organizations, without the IT
infrastructure investment.
Cloud computing advantages include:

Lower capital costs Organizations can provide unique services using

large-scale computing resources from cloud service providers, and then
nimbly add or remove IT capacity to meet peak and fluctuating service
demands while only paying for actual capacity used.

Lower IT operating costs Organizations can rent added server space for a
few hours at a time rather than maintain proprietary servers without worrying
about upgrading their resources whenever a new application version is
available.

They also have the flexibility to host their virtual IT infrastructure in locations
offering the lowest cost. No hardware or software installation or maintenance
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Optimized IT infrastructure provides quick access to needed computing

services

USES OF SOCIAL MEDIA IN FINANCIAL SERVICES AND ITS

IMPLICATION.
Social media has taken the world by storm over the past decade. Facebook, which is
generally considered to be the grandfather of social media, was only founded 11 years ago,
YouTube the next year and twitter two years later
The usage numbers for social media are staggering. There are now 284 million Twitter users
and 332 million LinkedIn users. However, Facebook dwarfs them both, having passed the
one billion user mark last year. In addition, one billion people visit YouTube every month.
Capitalizing on social media with numbers like this, its not surprising that organizations
across all industries have rushed to develop strategies for how they can capitalize on social
media as a marketing and customer communication tool.
There are unique challenges for financial organizations when it comes to using social media
as a part of their marketing and customer communication strategies.
Chief among these are compliance concerns, security risks and regulatory restrictions.
However, these challenges should not keep financial organizations from implementing
strategies for using social media as a marketing, sales and customer service tool. The
potential benefits for financial organizations of using social media in this way are numerous.
For example, customers that interact with their bank using social media are 12 per cent more
likely to be mass affluent and 18 percent more likely to be emerging affluent.
These statistics essentially mean that customers using social media are highly likely to be
among the most valuable financial customers. Therefore, forward-thinking financial
organizations are formulating strategies now for how they will incorporate social media into
their strategic objectives going forward in the 21st century.
Common uses of social media financial organizations can use social media in several
different ways. One, of course, is as a sales and marketing tool. More financial customers of
all ages, from Millennial to Matures, are using social media networks to seek out information
on financial organizations before deciding which ones they want to do business with. As a
result, they are shaping brand perceptions through posts, comments and likes in ways that
many financial organizations arent even aware of.
This makes it critical that financial organizations be proactive, instead of reactive, in
managing their social media presence. But managing comments and likes on social platforms

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is just the tip of the iceberg when it comes to using social media as a sales and marketing
tool.
Progressive financial organizations are going beyond just using social media as a customer
engagement tool to engage in Social Media 2.0, or collecting and using data from social
media to gain insights that can help with sales and marketing.
For example, such data can help financial organizations better determine which financial
products and services their customers want. It can also help pinpoint which social networks
are the most effective platforms to use for placing targeted messages and adverts
Most financial organizations that have successfully implemented social media have taken the
time to develop a comprehensive plan that drives their overall social strategy. Such a plan
typically consists of four main components:
1. Getting a handle on their existing social media presence. The first step is to determine your
organizations current social media footprint. For many organizations, especially large ones,
its much bigger than they realize, with potentially dozens of social media accounts spread
out among many different platforms.
2. Creating an over-arching, organization-wide social media strategy. This strategic plan
should dictate how social media will be used across the entire organization and bring together
disparate silos and departments that might currently be operating independently of each other.
In addition to sales and marketing, this should also include compliance, IT, human resources
and customer service, among other departments.
3. Setting social media objectives and identifying metrics in order to measure them. Just like
all organizational initiatives, there should be goals and objectives attached to social media
efforts. And they need to be tangible, trackable and measurable so you can see how your
organization is doing in meeting them.
4. Educating employees who will be responsible for implementing the social media strategy.
Employees shouldnt be held accountable for devising and implementing the social strategy if
they havent been properly trained. Social media is becoming a field of study in its own right,
so invest in adequate education to equip employees with the tools and education they will
need to be successful.

BRING YOUR OWN DEVICE (BYOD)

The practice of allowing employees to use their personal devices to conduct business has
many benefits to the employer. However, there are many risks against which an employer
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should caution. The following are some of the potential benefits and risks that could be the
result of allowing BYOD in the workplace
Benefits:
It could save employer money. Employees are happy with the technology they have because
they got to pick it. Employees may be more responsible with the technology because they
paid for it.
Risks:
There are many security risks associated with loss of the device or theft of trade secrets.
Employees may feel as if they are losing their privacy rights when their employer has access
or rights tied to the employee's personal device. Employees may not get the most up-to-date
software or device when choosing their own technology.
Devices may not be adequate for specific work environments (e.g., easily breakable
technology in a rugged work environment). It may become less clear whether a social media
account or a creation, such as an invention, writing or design, belongs to the employer or the
employee when it was created and accessed on a device used for both work and personal
matters.

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