The Services Offered by Barclays Technology Essay

The Barclays group in one of the largest financial providers worldwide with its offices located in 30 countries across the globe. The bank is headquartered in London, UK, with approximately 85% of bank deposits and loans contained in the country of origin. Other European Union countries hold about 10% of the Barclays business, while the United States possess about 3%. The remaining 2% are spread among other countries of Barclays operation (Rugman Collinson, 2009). Though the Barclays financial corporation is mostly exposed to risks in its country of origin, research findings illustrate its significant exposure in US dollars as well. Financial activities lend by Barclays in various countries underpin its international financial exposure, which requires a strategic approach to managing foreign currency and oversees activities along with activities in the domestic market to identify, detect and prevent the risk of currency losses. Another concern of Barclays as an international financi al provider is to provide sufficient and timely financial services to its clients worldwide (Rugman Collinson, 2009). Online banking is the most widely used digital services’ solution in the banking industry today used to enable individual clients and business consumers to exercise control over their bank accounts and transfer money. Indeed, online banking services are beneficial in terms of customer convenience and society sustainable development as well (TÃ ¼rk et al., 2003). As such, internet banking eliminates the need for the client’s personal visit to the bank and reduces the volume of paper documents, financial staff and banking space used. Therefore, internet transfer costs are significantly lower compared to traditional transfers. While being a convenient, time-efficient and easily accessible means of requesting and receiving banking services, internet banking poses some challenges as well. First, online banking requires development and implementation of corresponding hard- and software and regular upgrade and update of the digital infrastructure to ensure its smooth and flaw less operation and services’ mobility. Another critical concern of online banking refers an increased risk of forgery, which may reduce the public trust in digital banking services. Client user names, contact information and passwords present high interest to hackers, who target banks with poor protection measures (TÃ ¼rk et al., 2003). Despite these difficulties that impose additional investment in digital design and safety, online banking is a preferred scenario today, as the bank’s customer needs only a PC to gain access to his or her accounts and perform money transfers. In this respect, Barclays has developed a system of internet banking to deliver its services to customers in different parts of the globe. The comprehensive system of digital banking services allows Barclays to provide financial assistance and support to individual clients and corporations in any extent and any time the services is needed (Barclays, 2017). Barclays internet banking offers control over client’s assets and cash in a time-efficient manner. In this respect, Barclays proposes a variety of tools that are likely to suit different business needs. Online banking services allow Barclays customers to manage their finance, loans and cash from any location and digital technology equipment. Therefore, extensive functionality of internet banking is complemented by flexibility (Barclays, 2017). Apart from enabling digital banking services of any complexity, Barclays system of online banking utilises diversified safety measures and processes to protect client user privacy, to safeguard automatic logging and to detect the risk of a hacker attack. In this vein, Barclays conveys regular inspections and check-ups of internet banking systems to identify and troubleshot malfunctions (Barclays, 2017). The provider prioritises the system’s sensitivity in terms of the immediate detection of unauthorised log-in and prevention of hacker operations with client accounts. Informational technology risk management occupies a substantial portion of Barclays managerial and policy-making agenda. Besides, Barclays internet portal provides enough information and advice instructing client users to use online banking services in a way to protect their information. References Barclays. (2017). Digital banking services. Barclays website. Retrieved from https://www.barclayscorporate.com/products-and-solutions/online-banking-services.html Rugman, A. M. Collinson, S. (2009). International business. Harlow: Pearson Education. TÃ ¼rk, V., Kuhndt, M., Alakeson, V., Aldrich, T. von Geiber, J. (2003). A case study with Barclays PLC final report, April 2003. Brussels, Belgium: The European Community Project: Information Society Technology Programme.