IT Essay Example

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3Bank Accountants


Bank Accountants

Most bank accountant conduct businesses online due to the continuous advancement in technology as well as the efficiency in doing business over the internet. E-business is a short form of electronic business and it is the trade that includes buying and selling of commodities over the internet. Other activities such as service to the customers as well as booking and supplying of goods and services are also some processes of sales that are done online. E-business also involves collaboration of the relevant business partners and sharing of information to the various departments.

E-commerce is the type of commercial activities that are conducted over the internet. These activities also include buying of goods and services as well as transmission of data from one server to another. Additionally, transmission of funds also lies in the e-commerce processes. The chain of the activities may be from one business to another or from a business to the clients. The e-commerce and the e-business are terms whose applications are almost interchangeable (Pirson 2015 p. 2). The terms are used in the transaction context which is done over the internet. E- Commerce is widely used in banks by the accountants to carry out the transactions.

Prediction model is a widely used e-commerce model, especially in the banking industry. The chain involved in the model is the business-customer chain. The banks usually made high profits due to utilization of the model in the transactions especially in saving and credits. The most preferred model among the prediction models is the recommendation models. Banks usually market their services to the potential clients through various channels such as social media and print adverts. The banks in this case market the services to the clients regarding their saving capacities. The trends in the economic realm help the banks in identifying the needs of the customers to foster themselves economically for instance through borrowing some loans. Recommendation model is also significance where a bank requires utilizing the information regarding transactions to customize credit card offers. The recommendation model also applies where the credit card users as well as the customers who use debit cards are customized by the bank so as to acquire the services that are offered by the bank.

The recommendation model is a great tool in finding out what will happen to the future of the bank. Firstly, the model helps in identification of the services that the customers have much interest in after seeking the current services. The model is helpful to predict the future of the banking organization through evaluating the profitability or the losses that may arise where the bank recommends too many services to the clients that may lead to competition of capital and resources in the firm. The profile of the customer is based on while recommending various services offered by the bank. For the high profile clients, the bank should bring out the best of the services for recommendation to these customers. However, in most cases, the banks recommend services and commodities that suit the customers in the best way according to their amount of income and financial status (Yang 2013 p. 3064). Additionally, for effectiveness and sustainability of the company in the future, the bank should recommend the best services to the customers to captivate their interest.

The bank uses the recommendation e-commerce model to increase sales in a year through sustainable use of the models. Algorithms of collaborative filtering are a technique that is used for sustainable transactions in a period of twelve months. The algorithm in this case does not necessarily depend on any additional information of the clients. User-user collaborative filtering is a technique which is under the algorithms of collaborative filtering, which leads to a company’s profit after one year. Here, the similarities between the customers’ preferences are coded according to the services and commodities that they have used in the past. Additionally, a bank can make profits in twelve months using item-item collaborative filtering (Yang 2013 p. 3066). Here, the item and services that are similar in regard to the customers’ choice are paired and recommendation made to the clients.

Recommendation model is applicable when the banks are working with various stakeholders such as the suppliers. Supplier relations are very essential and should always be regarded when conducting e-commerce business as through them, accessibility to the customers becomes easier. The suppliers also aid in local sourcing where the recommendation model is used to bring growth to the community that is being focused by the bank. The suppliers are also able to predict the fluctuations that are likely to occur in the external environment as they interact directly with the customers while delivering the services. However, various issues may arise when the suppliers are using the recommendation models to reach out the customers. For example, this is a costly practice by the firm as input will be incurred to hire the labor of these suppliers. Losses may also be experienced as a result of failure of the firm to interact directly with the customers. The losses occur if the suppliers are not well skilled in customer relations. Additionally, the firm requires hiring experts in marketing to make the necessary deliveries in time to maintain the trust of the customers. Interaction with customers requires patience and great marketing skills.

Security issues that the banking industry faces are majorly in the models of e-banking that are applied in the bank. The prediction models face security issues and more importantly the recommendation e-business model. For instance, loss of money may be experienced where the transaction is not done face to face. Additionally, most banks that operate directly to the clients lack ATM machines. The user is therefore forced to use an ATM card from another bank and can only be possible online. Additionally, the bank that is in alliance with the bank that the customer is making the deposit charges a fee for external services such as use of ATM cards. This makes transactions insecure, especially where the e-commerce is conducted across various countries. The organization requires being aware of the security issues that the customers face so as to fix them accordingly (Rachwald 2015 p. 11). Customers value transactions where the money is safe.

Enterprise computing in banking uses a database for the storage of information and protecting it from cyber criminals. Data is accessed whenever it is required by the right recipients. The database system is comprised of the operating systems, various hardware platforms as well as the storage devices. This technology increases the sales of the firm through maintenance of information and records regarding the customers’ transactions. Giving transactional benefits will also foster sales in the existing customers. New customers will be acquired through the use of relevant channels to market good and services. In a span of six months the firm will acquire new customers through the provision of quality products with rational price. The new technology improves the customer support through social media and online communication delivery of services (Xhafa 2016, p.945). Many businesses conduct their sales online for the convenience of the customers. Giving feedback through the firm’s website promotes the support of the customers to great extents.


Pirson, M. (2015). Business Models for Responsible Banking. SSRN Electronic Journals, 1-3.

Rachwald, R. (2015). Is Banking Online Safer than Banking in a Corner. Computer Fraud and Security, 11-12.

Xhafa, F. (2016). Advanced Knowledge Discovery Techniques from Big Data and Cloud Computing. Enterprise Information System, 945-946.

Yang, X. (2013). Collaborative Filtering Recommendations Models Considering Item Attributes. Journal of Computer Applications, 3062-3066.