barclay complete conclusion

8/8/2019 Barclay Complete Conclusion

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Comparison Among the Barclays Bank and Other Banks in U.K

There are many state of factors to be considered and compared that influence the

internet banking of Barclays and other Banks present in U.K making them to adopt models

of internet banking.

Social and Educational Issues:

Social Trends:

The usage of new technologies became quite common by the consumers of U.K.

Credit cards, charge cards and debit cards represent plastic money which became the

trading culture of UK. 3,909,000,000 people were using the plastic card to purchase an item

from the shop in the year 2000 according to study of National Statistics. UK people are

accepting the activities that are related to E-Commerce. The electronic transactions were

considered as standard procedure in the internet banking. The internet banking of Barclay

bank is made widespread in UK than other banks. As 31 percent of UK consumers are using

the internet banking procedure to deal about the financial services with the provider. Theother banks also encourage for adopting the e-banking and e-commerce activities.

Barclay bank provides security and cautiousness of about the account details to the

customer. The survey conducted on the people of UK proved that about of 51 percent adults

access the internet.

Internet Literacy:

The internet literacy is high considerably in the region of UK as they are familiar with

the details of e-commerce and e-banking though they spend less time in surfing online

suggesting that they know what is going on around the sites. The social trends are not

treated as the drawbacks of the people as the banks need to interact with the customers,which are not followed by the other banks in UK whereas it is the main thing considered by

the Barclay Company.

Market Size:

Each and every company deals about the development and the providing of new

products or services as there is large enough potential market that provides the viability of

economy in the service and product production. The usage of Barclay bank through the

internet banking is more than that of other banks in terms of percentage is 10% whereas

the other banks are used in less i.e., 2%. The development of internet banking was faster in

the Barclays bank considerably than those of other banks. The Barclay bank has realize that

the internet banking provide additional services and capability of transaction using the web

sites only.


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The website survey conducted has shown that the usage of Barclay Bank internet

activities is much than those of other websites. The online websites are useful in many ways

such as application can be filled online to apply for loans, insurance policies, mortgages and

brokerage services. These all extensive features are not provided by the other banks as

they lack in providing the financial products and services, any basic services such as credit

card payments, transfer of funds and viewing of accounts.

The fact that the Barclay bank is bigger than those of others provides the extensible

features in the internet banking. The banking institutions that are present in UK provide the

internet banking much better, customized services and the products that are related to the

bank to satisfy the customer related with the bank. The bank is providing special prices to

the youth and student accounts to attract them towards it and also the family insurances,

premium banking equally to all the customer groups present in the bank representing the

accounts opened in them.

The banks are differentiated due to their reputation as well as its significance is more

for the Barclay bank than that of other banks. The promotional and informational reasons

provided by the Barclay bank are much better than that of the other banks when compared.The customers of the Barclay bank are provided with better financial and banking services

like online application for the loans etc, but the basic services like account viewing and

electronic payments. The banks are being completely exploited by adopting the banking

models of internet. The banks identified that the survey made on the banks revealed that

the other banks are have not exploited the banking models completely.

As the marketing of the other banks is not that great, to adopt the new innovative

ideas and to be aggressive or risky internet banking model to compete others. Barclay bank

sectors made different connections with the other banks for expanding itself and to accept

the investment and profits that are obtained through the affiliation.

Security Issues:

A rapid movement is bought in the internet growth by the financial institutions to the

industry of electronics. The security and safety that is provided for the information is kept

confidential and the transactions those are sensitive are carried out very securely by using

the World Wide Web. Many security methods are being adopted by the Barclay Bank for the

protection of the passwords, user IDs by the usage of encryption schemes for the

certification of the authorities and digital signatures. The protection methods are applied by

using the encryption schemes of 128-bit.

Apart from the encryption scheme application there are also firewalls that are

advanced by the bank such as RC4 and MC5. The digital signature is considered ashandwritten signature according to the internet world. Barclay bank got legal authorities

from the UK government as it is providing the better and latest security levels. The digital

signatures are considered very much by the users of internet banking to enable the

transaction of e-banking participation legal. The security is provided and concerned a lot by

the Barclay bank. The framework is performed legally without any variation. All kind of the

internet banking sector are protected from exploitation by law in the Barclay bank.


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Customer is very considered about the web site security provided by the bank such

that others could not access their account that is they requires the confidentiality and

security provided to the account settings. Major internet users of banking prefer the Barclay

bank as it provides the necessary things that are required by them. The other banks are

lacking the security providing, simplicity, validity of an account, trustworthiness,

completeness and reliability of the internet banking.

Information technology infrastructure

Several banking sectors are realized that they have already got awareness about the

business to business (B2B) sectors in case of electronic banking. These banking

organizations must set their primary target in order to get the ultimate productivity and

profitability. The main objective of these banking sectors is to achieve maximum

productivity. This can be discussed due to the reason of business to business sectors are

contain huge no of potentials than Business to customer (B2C) revenues. Single company

regarding information technology infrastructure in one country is the base for the

development of business to business electronic banking and electronic commerce generally.

The potentials for business to business electronic banking are specifically avoided in

United Kingdom. Especially different kinds of numerous businesses are introduced into the

e-commerce sections of the business to business sectors. National statistics has completed

a survey regarding these business sectors. In the reports of survey 92% of UK business

organizations use home computers which can be refer to personnel computers. They will

also use various workstations and terminals.

63% of UK organizations have efficient access towards the internet access that is

ranging from 94% of large business organizations. These kind of large organizations will

contain over 1000 employees. These organizations have huge access of internet when

compared to other organizations with 29 to 30 employees. 59% of small organizations are

present in the results of survey conducted by national statistics. But various British

companies are acquired the various kinds of information systems that support various e-

commerce activities.

Here the infrastructure of information systems is very much required by the business

to business organizations. In addition to this several government activities are acquired in

order to support the electronic commerce activities. Initially the activities are done through

the ADCL cable modem in order to improve and boost up the performance of British

companies in the e-banking and e-commerce industry.


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Generally, the business activities of e-commerce organizations in UK will contain the

business tradition and technological standards in order to exploit the chances in e-

commerce business applications. 80% of sales in the survey results business to business

applications. By considering the above points, Berkley bank in UK will more concentrate on

the abilities of electronic banking. For example Barkley bank in UK has terminated totally

171 branches and turned into the significant information resources for the development

through the huge internet access.

In UK business to business applications of e-commerce are in various stages of

development. Initially the first level belongs to the Barkley bank in UK. Hence most of the

information systems and infrastructure of information systems are required in order to

support the electronic commerce activities. Not only the information systems but also the

information technology resources are very much required. Here the business tradition plays

a vital role in efficient internet banking. Many of the banks like Barkley bank will not have

enterprise applications. These enterprise applications are very much used to link to their

sales, departments and production of corresponding banks in United Kingdom. Without the

information systems it is impossible to implement the new e-commerce activities in the

business to business sectors.

Telecommunications and infrastructure of internet:

Internet penetration:

The concept of internet penetration is an important for the internet banking

improvement in a country. This can able to determine the possible no of consumers to the

banking sectors. In each and every country there is a provider called National internet

service provider which is very much used to differentiate the concept called internet

penetration between two countries.

Internet cost:

The cost of accessing the internet can affect the various business practices of

internet banking. Among all markets in the world, United Kingdom is the cheapest market in

the concepts of internet access. This is the main advantage for internet banking in united

bank.


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Fig: internet rates in different countries

Internet bandwidth:

Internet bandwidth can be considered as a significant approach in European

countries. Especially in developed countries such as United Kingdom the e-commerce

applications are improved a lot. These countries were developing very advanced information

systems and provide many services such as broadband internet connections. These

information systems allow the connections which are permanent connections. So this

connection could be with the web server and the speed would be the faster one tan the

normal dial up connections.

In Barkley Bank, the stages in telecommunications are not in the similar manner.

Actually most users will get the access through the internet using some dial-up connections.

Here the broadband connections are used for effective telecommunications. The Barkley ban

k in UK announced that the broadband connections will be implemented in future. The

above situation is described by considering the various kinds of telecommunications in order

to explain efficient telecommunication in the Barkley bank. Barkley bank

telecommunications uses various advanced technologies in order to improve the bank

performance and to develop the information systems infrastructure.


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Government support and initiatives:

There are various researches that are highlighted and recognized the role of the

government in case of trading development and internet banking. Various results are

produced based on the telecommunications in the Barkley bank. The government of British

has announced that the United Kingdom is the country which is strong in telecommunication

processes. This is due to the benefits that are obtained by the UK government. The pure e-

commerce strategy aims to the huge internet access in the corresponding bank.

In terms of government legislation, the e-communication is an act which is then

provided by the British government. Even though the Barkley bank had supported the

telecommunications, these communications will be introduced for further recommendations.


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Conclusion

From the above discussion of internet banking, there are various factors that are

involved in various telecommunications in Barkley bank of United Kingdom. The society of

Barkley bank will provide various advanced technologies which are very much helpful for

telecommunication process in order to develop the telecommunication.

Here the Barkley bank will provide various services with excellent quality. The

services include various products and internet accessing to the customers in order to

maintain the development of Barkley bank constantly.


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Limitations of Study:

The sample banks are investigated and are used to represent each and every

banking sector. The realistic and valid generalizations are considered during the verification.

The bank that is wider in sample may include banks in other regions also, generatingfindings additionally by performing the web survey.

Internet banking is growing rapidly and is modifying the industry that is related to

banking sector collecting the information related to it to update if possible. As the bank

branches are not aware of the development of internet banking models which are updated

or modified. The result is affected when personal inexperience is combined with the

research and internet banking, includes the services of cross-selling and pricing policy. The

website evaluation features are being implemented a lot into the framework. Internet

banking through the bank websites is mostly restricted as in the survey conducted

assessment availability through the internet is not much available.

Further Research:

As the internet banking is growing rapidly throughout the world considerably the

banking industry making it t grow continuously and add up researches further into it for the

updating the model. The updating can be performed by taking reviews from the customers

and by the questionnaires, interviews conducted by the head or manager of the different

branches of a bank. The research can be useful further as following some rules such as

exploring the technical elements as web security, transactions performed through online

and the system of payment. Questionnaires conducted by basing on the review of customer,

the problems rose to be solved. The long term of a bank is to be exploded by the usage ofinternet banking model.

barclay complete conclusion

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