This essay has been submitted by a student. This is not an example of the work written by professional essay writers.
Industry

Within the banking industry

This essay is written by:

Louis PHD Verified writer

Finished papers: 5822

4.75

Proficient in:

Psychology, English, Economics, Sociology, Management, and Nursing

You can get writing help to write an essay on these topics
100% plagiarism-free

Hire This Writer

Within the banking industry

In the banking industry, there are a large number of data that is collected daily, ranging from new client’s biodata, transaction data, audit reports, marketing reports, procurement reports and transactions as well as credit-related data. For the management or the executives of a bank, the data that matters most include the client’s data. This is because in case the client’s biodata is stolen or compromised, the bank may be in a very critical situation where it has to pay fines as well as compensation to the clients. Information that is very crucial in a bank is the transaction data. Banks are generally financial institutions, and once financial transactions are conducted every minute. As a result, the financial status of clients, as well as suppliers and that bank itself, are very crucial, and hence the executive treats the data as very essential.

Within the banking industry, several players require the data. The first group that needs that data are the internal as well as the external auditors to examine compliance as well as transparency and integrity of banking activities. Another group of people that requires the data are marketing as well as the human resource managers who use it to plan for resources as well as planning for marketing activities. Finally, the suppliers, as well as potential investors, require to have the data to make god investment decisions. To make sure that the right persons get the information without being compromised, the banking industry can use blockchain technology which is free of any malicious activities t distribute it to the users. Additionally, the use of encryption, as well as user-based authentication via a dashboard, will ensure secure data sharing to the right users.

  Remember! This is just a sample.

Save time and get your custom paper from our expert writers

 Get started in just 3 minutes
 Sit back relax and leave the writing to us
 Sources and citations are provided
 100% Plagiarism free
error: Content is protected !!
×
Hi, my name is Jenn 👋

In case you can’t find a sample example, our professional writers are ready to help you with writing your own paper. All you need to do is fill out a short form and submit an order

Check Out the Form
Need Help?
Dont be shy to ask