Multimedia Information systems at Barclays Bank IntroductionBarclays bank is a British financial service provide operating all over the world. It is an investment firm listed on the London stock market and NYSE. It is a component of FTSE 100 Index. The bank was ranked as the 25th biggest firm in the world by the Forbes Global 2000 in the 2008 listing. It has also named as the largest financial service provider with assets worth $3.7 trillion. It is the second largest financial institution in United Kingdom and in the Globe as far as assets is concerned.
Its headquarters are in Docklands at One Churchill rest in Canary Wharf, after changing place from Lombard Avenue (Barclays Bank, 2010). Organizational structureBarclays is lead by Marcus Agius as the chairman who took from Matthew Barrett as the chairman. John Varley is the Bank’s Chief Executive and reports directly to the chairman. John is responsible for all the strategic operations and development of all its operations. The operating units of the Bank are categorized into two classes: Corporate, Investment Banking and Investment Management (IB& IM) and Global Retail Banking (GRCB).
IB& IM handles three main operating units: Barclays Capital, Barclays Corporate and Barclays Wealth. GRCB handles several operating units. Chiefly it has the duty for UK Retail Banking (UKRB), Barclaycard and Global Retail Banking (Barclays Bank, 2010). Strategic role of information systemsThe 1990s have brought and are still bringing significant evolutionary developments in many firs and the technical environments of the firms. The changes in IT are to be sought in advances in swiftness and quality of hardware and software, the emergent of influential and transparent networks, the accessibility of disseminated databases and the arrival of multimedia IS and multimedia services.
One class of strategic information systems that is multimedia information systems can be a facilitating technology for Business Process Redesign, Business Process Reengineering (BPR) and Business Reconfiguration (Stiroh, 2000). Multimedia Information systems at Barclays BankThe commitment of Barclays Bank in IT can be assessed by taking into account the entire investment. The bank has invested billions of dollars in IT. The bank is increasing its investment in IT every year with the investments having major effects in the local as well as international banking of the firm.
The IT department is headed by the Multimedia department head who is under the director of alliances at Barclays because strategic chances of widening the business structure and to spruce up the bank. The leader of Multimedia at Barclays has devised multimedia objectives to assist the firm excel in the field. Barclays Bank Multimedia Department has set the main objectives of the department as assessing multimedia systems through pilot programs, rising electronic catalogues for traders and Barclays group and establishing a requirement for a generic Multimedia application structure for retailers.
Other objectives include creating software setting for Multimedia Information schemes for retailers, establishing and testing online loan services and establishing and evaluating Internet plastic card dealings (Kozak & Kowalski, 2005). Goals of Multimedia systems at BarclaysThe main objectives of the multimedia system at Barclays include: