Information System Development

Answer :

Task 1:

Information system development (ISD) methods are typically defined as the transformation process in regards to certain object systems in a comprehensive metric of virtual ambiences where the tools are supposed to employed to organize the collected techniques that are cumulatively termed as method while accomplishing certain objectives. In this context, development is considered both as manual and other virtual reforms prior to the object of the system (Montazemi and Qahri-Saremi, 2015). In this regard, it can be commented that the primary requirement to develop an information system is chiefly due to cope with the current trends of globalization that suggests information as a virtual analogue of the regular amenities. In most of the fecund literature, the principal vehemence has been imparted on the aspect of the imperative components of an ISD where, on the other hand, the current study suite is supposed to address the significant (and somewhat whimsical) alterations of customer requirements that might influence the objectives of developing an information system (Yuen et al. 2015).

In this regard, it can be considered that, whatever the development aims to be altered upon, it spreads a meagre influence on the established system development life cycle (SDLC). However, it has been seen that the prevalent information systems evolved in a prompt pace in order to respond to leading demands of information and archival accessibility. In this regard, the trends that has driven the entire model of Information System Development can be generalized as the advent of globalization (Martins et al. 2014). In the advent of globalization, the appeal for virtual accessibility has been gradually increasing coupled with the advent of diverse technological expertise. This trend of rapid hike of information accessibility is accompanied by the trend of using Social Media. Apart from the social networking sites, the virtual markets has been able to stimulate a tremendous growth (Bhardwaj and Aggarwal, 2016).

Task 2:

Introduction

Online banking technologies which also known as virtual banking and e-banking is typical to refer to an electronic or virtual analogue of the conventional banking systems. Furthermore, this is supposed to aid the core consumers of banking services to avail the facilities of transactions, deposit and money transfer with a relative operational ease (Wei et al.  2014). The modus operandi of the online banking system is quite easy where the software appointed to it is supposed to connect the principal banking unit with the specified archive of banking details. It is diametrically different from the process of branch banking where the customers have been availing the desired facilities manually (Ray et al. 2017).

Literature Review

In order to the current pursuit, in this segment a comparative analysis between the conventional banking system and the virtual banking system can be conducted. The customer who wish to avail the online banking facility requires an internet access to get the proper services. On the same note, passwords and other verified credentials are supposed to be issued within it. Financial institutes are hereby recruited and instructed to allocate the number of customers regularly in the intention to judge the proclivity of the customers to judge the inclinations (Khan et al. 2014). In this regard, it can be said that the customer numbers are not always the same as it was instructed in the customer controls. The enforceability of the authoritative wraths are comparatively less in the virtual banking systems since it does not restrict the conventional mode of transactions by the means of cheque, savings and loans (Laudon and Traver, 2013). 

However, the people appear to be threatening since the virtual domain is supposed to be exposed of several virtual invaders that might impose a potential harm in terms of security threat. In this regard, the conventional banking system is also not free from such acts of intervention (Montazemi and Qahri-Saremi, 2015).      

Survey Questionnaire

In this regard, the researcher is supposed to use Lickert method in order to conduct the survey with comparative ease. Furthermore, in order to conduct the survey seamlessly, the respondents are opted from the core customers who are supposed to be the prospective customers. 20 such customers have been nominated in this regard. 

Q1 How far do you agree with the fact that the virtual banking technique is supposed to provide more security regarding the transactional activities as compared to conventional banking techniques?

Q2 How far do you agree with the fact that the virtual banking is supposed to endow the customers with comparative operational ease?

Q3 How far do you agree with the fact that virtual banking system is supposed to provide additional facilities as compared to the conventional banking?

Q4 Do you have to undergo any disasters regarding cyber invasion?

Q5 Do you have to undergo any disasters of money laundering while banking conventionally?

Q6 How far do you agree with the fact that e-banking systems of data encryption is more fecund as compared to conventional banking?

Q7 How far do you agree with the fact that the virtual banking system is far more prompt about problem solving as compared to conventional banking?

Q8 Do you think that the operational ease that virtual banking usually provide is one of the major reasons of the global customization?

Q9 Do you think the tedious operational procedure is one of the major reasons that the conventional banking methods are getting obsolete?

Q10 Do you think that e-banking techniques is supposed to accomplish the competitive edge if a comparative analysis has been conducted?

Survey results analysis

Figure 1: Provide more security regarding the transactional activities as compared to conventional banking techniques

Discussions: The majority appear to be inclined towards the assertive statement.

Figure 2: Endow the customers with comparative operational ease

Discussions: The majority of the respondents are supposed to be transmit an assertive remark regarding the statement

Figure 3: Provide additional facilities as compared to the conventional banking

Discussion: The majority appear to transmit an assertive remark regarding the enquiry

Figure 4: Disasters regarding cyber invasion

Discussion: The majority of the respondents appear to be inclined towards the non-affirmative remark. 

Figure 5: Disasters of money laundering while banking conventionally

Discussion: Most of the respondents appear to provide identical inclination on both of the remarks 

Figure 6: E-banking systems of data encryption is more fecund as compared to conventional banking

Discussion: Majority of the respondents appear to provide an unanimous affirmative remark

Figure 7: Virtual banking system is far more prompt about problem solving as compared to conventional banking

Discussion: Majority of the respondents appear to transmit a positive remark

Figure 8: Operational ease that virtual banking usually provide is one of the major reasons of the global customization

Discussion: The majority of the respondents appear positive regarding the inclinations

Figure 9: Tedious operational procedure is one of the major reasons that the conventional banking methods are getting obsolete

Discussion: The majority of the respondents appear to transmit a positive remark

Figure 10: E-banking techniques is supposed to accomplish the competitive edge if a comparative analysis has been conducted

Discussions: Majority of the respondents appear to express positive remarks  

Conclusion

It can be concluded from the above discussion, it can be mentioned that the alteration of trends of Information Development System has seen to evolve in the last decade is chiefly due to the rapid hike that has been prevalent in the customer expectations. In this regard., the increase in virtual accessibility can be considered as the product of the urge to remain sound in terms of access of information. The advent of technological expertise and its fecund outcomes has been employed to endow most of the customer activities with comparative ease. Online banking system is not any exception. Most of the customers seem to embrace it quite gracefully since it is supposed to endow the potential customers with comparative operational ease while ensuring the notion of corresponding security.