External Environment Analysis of Kiwibank

Internet banking refers to an online facility which provides an alternative channel for delivering banking or financial services and enables individuals to access their accounts anytime and anywhere through a bank’s web site (Z. Liao, Z., and M. T. Cheung, 2012). In other words, online banking named as E-banking, internet banking or virtual banking. Generally, the operation of online banking is connect to the core banking system designed by bank and then contrast to branch banking which refer to traditional way of bank customers accessed to banking services. Nowadays, internet banking is one of the most important businesses in electronic business around the world (Ariff et al, 2012). Most of the conventional banks have to operate and provide the online banking service to their customers as needs by

- The last three transactions conducted out of my bank account are withdrawn cash to make a payment, automatic payment to pay my car insurance and ordering pizza online. The technology is one of the key roles in most of all the transactions. The technology used to record the records and keep all the information save when you open your bank account app. Also, to order the pizza I needed to use the technology by going to their website and placing my order. When I stop in an ATM the machine uses the technology to record all the transactions conducted and accept or decline my petition.

Customers, even if security risks are minimal, may themselves distrust cloud computing when transmitting personal data, such as doing online banking. If they only have a vague notion of what cloud computing is, the benefits and efficiencies may seem unclear and outweighed by the risks (Knorr & Gruman 2010). They too may shy away from patronizing businesses that have cloud-hosted data.

In 2010, a massive technological movement forged itself into the financial sector. It was a new and exquisite type of computing system, and its introduction changed the manner in which the finance industry operated. This change engendering movement is cloud computing. As technology has continued on its path of rapid advancement, customer demand and expectation has done the same. In the financial sector, the consumer base has grown exponentially, thereby forcing financial firms to deal with enormous amounts of data on a daily basis. To keep track of this data and information is a titanic challenge, however, the emergence of cloud computing has proven to be an excellent

The world is turning to cloud computing to manage data. Businesses are at the forefront of this new trend with companies such as Google, Amazon, Microsoft, and others leading the way by providing these services. What exactly is cloud computing? According to Turban & Volonino (2011), cloud computing is Internet- based computing in which shared resources (such as hard drives for storage) and software apps are provided to computers and other devices on- demand (p. 48).

Recent technological advancements have resulted in an increased number of Internet-enabled devices, such as tablets and smartphones that can connect to corporate systems.These systems may also be running anywhere, including a public software-as-a-service (SaaS) cloud, a

Cloud computing combines a number of computing concepts and technologies in objective to provide secure, quick, convenient data storage and net computing service with all computing resources visualized as services and delivered over the internet. Cloud computing has brought financial benefits and promises to many business and organizations a way to enhance their information technology such as collaboration, agility, scalability and availability without heavy upfront capital costs in servers meanwhile achieving minimal management effort for service providers.

The process of globalization and liberalization has virtually transformed the way of running business across the globe. Technology has entered into every sphere of the human life and the financial sector is no exception to it. E-banking, a product of the research conducted in the field of banking and financial services over the last century, is being used in India for some time now in the form of digital data in computers, Automated Teller Machines, credit and debit cards, mobile banking and net banking. Internet or e-banking means that any user with a personal computer and a browser can get connected to his bank’s website to perform any of the virtual banking functions. E-banking services can be availed for payment of bill, fund transfer,

The purpose of this paper is to discuss the technologies regarding cloud computing and the importance for organizations to adapt this new technology. The largest companies in the world have placed bets on both sides of using cloud computing. Corporations should leverage the cloud while at the same time hire an internal cloud expert to protect the firm’s internal security. The fundamental question is the value of the collective mind versus the value of the privacy. Large and small corporations should utilize cloud computing because the value of the infrastructure and the stability far exceed what any single corporation can provide, no matter how large or small. We will also look at some of the advantages and disadvantages of cloud computing.

Michael Porter has developed a framework called five forces framework forces that shape every single industry and market. These forces help us to analyse everything from the intensity of competition to the profitability and attractiveness of an industry. In this paper I will analyse the Irish Banking Industry using Porters Model.

Cloud computing has proven that it is a technology that is here to stay and has shown to be a powerful game changer in modern business. It is a key component in allowing a organization to operate in ways never before imagined; however, with any new technology it is important to be educated about the technology and situation to be able to effectively leverage for an advantage. Through discussion of the technology, combined with potential security issues, strengths and weaknesses, a more thorough understanding of cloud computer

Cloud Computing is of the most important and new concept in technology. It is said to be very beneficial in terms of business for its cost effectiveness, data security, scalability, mobile access and so on. Many businesses are shifting their whole infrastructure towards it. It is, on the other hand, believed that it can only be used in business which is a completely wrong concept. As the cloud is more present in our life than we think; it has changed our ways to use the social applications like Facebook, Twitter, and LinkedIn etc. We are all using all these social websites from our mobile devices using cloud from everywhere without paying for it. The enormous use of all these social websites is the proof of cloud’s importance. Without the use of cloud computing it was not all possible. Many of us have used iPhone’s iCloud. It also uses cloud for storing our valuable information. All these new applications and games, we are using on our mobiles, run on some kind of cloud.

Cloud computing is the technology which provides services in various forms through online . The number of online stores for storage are available to back up our data and accessing the data anywhere at anytime. Cloud computing is a pervasive advancement which gives a beneficiary way to the clients to benefit the cloud applications on interest. It refers to the network service in which services are provided with guaranteed QoS, inexpensive computing infrastructures with an easy and simple access on demand and is enabled through a set of network. Without proper security and privacy mechanisms designed for the

There have been two broad schools of thought when it comes to measure and assess the competition in banking sector. The first, and classical, concept evolved from the Smithian school of economics. This view hold the firm belief that the competition is not what can be created, it happens. Measuring competition is measuring the position of equilibrium in the private and state sectors, as well as in the private and private sector. In an ideally competing banking sector, according to Smith (1776), all the banks have equal opportunities and equal offerings to the society, in such a way that selecting one outfit over other will amount to no difference. On the other hand, the second school of thoughts, regards competition in banking as something that has to be actively ‘injected’ into the banking sector. This involves regulations, laws and overseeing bodies. There are many statistical and analytical methods of measuring competition among banks, some of which are discussed here.

The banks ANZ, BNZ, Westpac and ASB are considered four big banks of New Zealand. According to RBNZ (2005) these four banks were holding 65% of total asset being held by entire financial sector of the country. Thus I believe the study of these banks will provide the fair condition of banking sector of the country. The banks of New Zealand follow the guidelines of the reserve bank of New Zealand (RBNZ) for their operation. The credit risk management practices of these four big banks are controlled by the regulations of RBNZ.