Systems Management and Security of Standard Chartered Bank Essay

Systems Management and Security of Standard Chartered Bank - Essay Example It is evidently clear from the discussion that Standard Chartered ranks among the top 20 companies in the FTSE-100 by market capitalization. It was formed in 1969 when two banks merged i.e. The Standard Bank of British South Africa which was founded in 1863, and the Chartered Bank of India, Australia and China, founded in 1853. Standard Chartered Bank always strives to Lead by example and be the right partner for its stakeholders. One of the objectives of the Standard Chartered Group is its commitment to building a sustainable business over the long term that is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. IT, Security and the Banking system The increasing demand of account holders and the business industry has led to a change in the banking sector. Like many other industries, the banking sector is also affected by the impacts of information technological and technological advancements. Standard chartered uses a number of technologically advanced equipments to quicken the procedures involved in the banking work. It makes use of computers, internet, modern software for accounting and transactional processing and so on. In the recent year, online banking has also been established and promoted by the banking sectors. Standard Chartered Plc also proposed a trade platform for the users of its services called B2Bex. This platform is used by both sellers and buyers to perform the basic transactions online without any delays or necessary paperwork. This platform helps in maintaining the whole trade procedures by giving the opportunity to the buyers to locate a supplier and choose products, negotiate insurance and transfer finances. The software to combat hackers and misuse of customer information have also been incorporated in the IT infrastructure of most the banks. This helps in maintaining substantial level of security of information of the users. Standard Chartered wa s the first bank to introduce ATM during 1979 in Hong Kong. The IT Security Measures Here are some of the security features that standard Chartered has implemented: 1. Strong Cryptography is extremely essential as it is the process through which data is converted into scrambled code and sent across a public or private network and deciphered or unscrambled at the other end. There are two types of cryptography: Symmetric cryptography. Asymmetrical cryptography. Under Symmetric cryptography the same key is used for encryption and decryption. This method is vulnerable to plain text attacks and linear cryptanalysis meaning that they are hackable and at times simple to decode. Asymmetrical cryptography utilizes two different keys for the encryption and decryption of data. It is considered to be more reliable and secure. Hence keeping in line with the latest updates in cryptography, Standard Chartered Bank Online Banking is currently employing SSL 3.0, RC4 with 128-bit encryption (High); R SA with 1024-bit and Triple-DES encryption to ensure data (password) protection and data integrity protection. This form of cryptography used is among the strongest that is available in the industry.

Recent Developments in the UK Housing Market Essay - 1

Recent Developments in the UK Housing Market - Essay Example The researcher states that the government should renovate existing houses because the households earning low incomes are entirely relying on private rented sectors that are not regulated. These areas are characterized by poor living conditions and security. It is important for the government to develop more housing because there are more than 1.7 million families on local authority housing waiting lists. This is a significantly huge number. The government should ensure that the new houses are environmentally friendly and affordable to everyone needing them. The first time buyers in the UK property market are important because they act as liquidity source to the whole housing market. These first-time buyers generally bridge the gap thus enhancing transactions as regards the housing property. The rates of transactions that proceed in the housing market may stall if the first time buyers are unavailable. Between 1998 and 2007, house prices increased steadily in the United Kingdom, makin g the ownership for the first buyers to be unaffordable. Interest rates for the first time buyers affected them to a comparatively wide margin. This is because the group may not have built up a previous equity and many of them may be earning low incomes than other people. When the first time buyers think of house affordability, they first consider the real interest rates given. On the other hand, the first time buyers may face more severe affordability burdens when prices of houses quickly upsurge. Lastly, it is imperative to note that structural shifts in mortgage or credit availability are other factors that led to fall of first-time buyers purchasing homes. In 2010, the government introduced a mortgage rescue scheme that protected the low-income households from being recuperated. The mortgage scheme consisted of two parts including the equity loan which was an interest loan issued by various housing associations. The interest rates could pay off between 25% and 75% of the mortgag e rates thereby reducing monthly costs. On the other hand, an interest rate of 1.75% was implemented on the loan.

Intercultural Communications Assignment Example | Topics and Well Written Essays - 750 words

Intercultural Communications - Assignment Example The movie is about a family comprised of a father, daughter, and son who are headed out on a picnic. All of a sudden, the father draws a gun and starts shooting and the two children run in the hope of rescuing their lives. The father later shoots himself in the head after setting their car on fire. Jenny (the girl), sees all that happens and does not tell the brother about it. She leads her brother to the desert after gathering some food. They are stranded, but to their rescue comes a boy who knows the place well. They try communicating with each other, but it is impossible and they decide to use sign language. He helps them find water and shares the food he has hunted with them (Oommen 33). They later together with the aboriginal boy find a deserted farm and decide to rest there. The boy continues with his hunting and is almost caught in a crossfire with other hunters in a truck. He finds the girl dressing and dances to her hoping to capture her attention, but the girl is clueless about what he is trying to communicate. Later the following morning, Jenny, and her brother (Luc) find the aboriginal boy hanging dead on a tree. She wipes ants on the dead boy’s chest before they head out. They come across a deserted mining town where they find a white man who leads them to a hotel. Years later, we see Jenny all grown up in her home daydreaming (Miczo and Welter 54). Communication barrier is one of the main challenges facing people from different cultures. This is clearly shown when the two siblings meet with the aboriginal boy. Jenny tries to talk to him, but the boy does not understand what she is saying. The brother comes to her rescue by gesturing to the boy. Although they later learn to communicate solely through signs and words, it still proves very challenging. They are together all the time, but because they do not speak the same language, they are not able to learn anything about each other.

The Controversial Approach of the Bank of England Essay

The Controversial Approach of the Bank of England - Essay Example This report presents a critical overview of the approaches adopted by the Bank for the sake of economic recovery in the country. Considering the devastating effects of the recent financial crisis, the Bank of England considered it essential to improve liquidity position through initiating â€Å"liquidity support operations† (Joyce). The intention behind these operations was to facilitate interbank market with more readily available funds. The Bank, in this regard, outstretched its normal operations by way of enabling commercial banks to obtain funds more easily. In addition to these initiatives, the Bank also considered other measures, such as, the introduction of â€Å"Special Liquidity Scheme† which enabled banks to exchange their assets with T-bills, which otherwise could not be materialized on short notice. This facility later was referred to as the â€Å"Discount Window Facility† (Joyce). However, these policies were brought into action after the Bank loosen ed the monetary policy by way of lowering down interest rates significantly. Although, the purchase of public and private assets was termed as a policy measure by the Bank, but in fact, these actions were forced to be taken by the Bank since the earlier loosening of monetary policy came out to be ineffective in achieving the 2 percent rate of inflation (Joyce, Tong and Woods). ... The growth trends in the UK economy from the first quarter have all been recorded in negative, i.e. – 0.1 percent, - 1.2 percent, 0 percent, - 1.4 percent, - 0.5 percent and – 1.3 percent. On the other hand, like other sectors of economy, the output of the construction sector of the UK declined significantly by 5.2 percent during the second quarter of the current fiscal year (Richards). According to the critics, the public and private assets purchasing policy of the bank proved to be detrimental itself for the economy as the Bank of England swapped financial assets with the commercial banks so as to increase the backup reserves of the banks, which could be used to further increase their lending operations in the market. But on the other side, the loosening of monetary policy and decline in interest rates meant that the deposits made by public in the bank were valueless. Moreover, the lowering down of interest rates also decreased the targets for businesses in the UK whi ch were set in relation to the returns expected on equity and capital of the firms. At the same time, it was also expected that the increased inflation rates would turn into increased demand and thus such increase in demand would lead to economic revival in the UK and would also improve lending operations in the UK financial market (Auerback). However, things went opposite to what was expected; as reported in the recent publication of the British Bankers Association, the mortgage lending for the month of June came out to be ? 7.2 billion, which if compared with the latest semi-annual averages was less than by ? 0.8 billion. Further, forecasting of mortgage lending shows that this declining trend

Learning and teaching Essay Example | Topics and Well Written Essays - 2000 words

Learning and teaching - Essay Example This program was inaugurated because a lot of employers were complaining about their employees basic literacy skills and thus they had to send their employees to gain the basic reading and writing skills (Barrs & Cork, 2001, pg 9). Literacy underlies every aspect of education, it helps to outperform grades, empower students, reshape their potentials and help them survive in this world. Within the literacy subject reading is a fundamental tool for progress and success. Gough and his colleagues introduced a ‘Simple View of Reading Model’ to enhance the reading capabilities within the students. According to them children can attain competence in reading when two main elements, i.e. reading words and listening comprehension are included in reading speech. If a child can decode the text fluently and can understand the spoken language easily then he will not face any difficulty with independent reading comprehension (O’Conner, 2007, pg. 12-13). Teachers should create reading development of children at the very basic level, i.e. the primary school level. Primary teachers should enhance the reading abilities within the young students by integrating reading, writing, speaking and listening skills (N amdi, 2009, pg 4). Hence, simple view reading is used especially in England primary schools and it is considered a mandatory approach I the teachings of reading (DFES, 2006). But when we apply SVR frames within the classroom environment then this model does not fit here. It not only neglects what the child knows about the language, spelling, and the basic process of making the sense of spoken and written language but it also makes learning to read in English particularly challenging. Due to this in 2009, United Nations Literacy Association currently started a research project, Building communities of readers. This project involves developing range of children’s reading and addressing those concerns that he simple view of reading

The War On Drug Dealing Assignment Example | Topics and Well Written Essays - 500 words

The War On Drug Dealing - Assignment Example I. Community policingEffective community policing involves some steps. the first thing to do towards achieving an effective community policing structure is to first educate the people on the manifest dangers of continued drug use and abuse. It is generally known that before there are drug use and abuse, there is drug dealing. it would be appropriate to conduct civic education to get people to know how drug abuse can be destructive to a country’s economy. The economy is derailed when there many people who are engaged in constructive activities that generate income. It generates more dependency and the dependency syndrome puts pressure on an economy, weighing it down. Drug use also leads to rising in vices like robbery with violence, rape etc. once people are made aware of all that, they take up the community policing on drug dealing and abuse as a matter of socio-economic importance and thus will report the crime as and when they are perpetrated. The benefits of the community p olicing approach include the following:A. Engages the people and makes them know the problems they have when the drug problem continuesB. Making people know that if their neighbor’s child reforms from the drug problem, then their own child is safe because nobody is likely to influence and lure them into drug abuseC. Discussing the drug abuse and addiction problem with the people makes it easy for them to relate the vice to slow pace of economic growth and the moral and social decay the societies grapple with today

Entry Strategy In Emerging Markets Essay Example | Topics and Well Written Essays - 3000 words

Entry Strategy In Emerging Markets - Essay Example However before entering into the markets, the organizations should study the vulnerability of the market conditions and various socio economic factors which are mentioned below. Based on the analysis of the factors the organizations should decide whether it has the necessary potential for setting up a business in the country and also should devise the entry strategy accordingly. The factors which are of prime importance are discussed below Political Factors: The consequence of the political issues is of a high significance to the business. While investigating into the political factors, matters relating to the policymaking of diverse regions are all taken into consideration. These fields include the administrative, provincial, nationwide and worldwide aspects. Another vital part which is included under the political factors is the consequence which businesses have to face due to alteration in the government both in the local and countrywide level. Multinational businesses also need t o properly understand the official policy which a government offers towards other countries (Wiiliams & Green, 1997, p.162). Economic Factors: The economic factors recount the components which influence the economic position of the business. The economic issues thoroughly deal with the economic and the fiscal strategy of the government. It is quite clear that the economic recessions relating inflation also disturb the officialdoms. The power of the national economy is a major factor which organizations do ponder upon. Alteration in taxation rate and bilateral trade agreements amongst the countries are also thoroughly administered (Walters, 2006, p 208)... This report stresses that the analysis of the different market entry strategy shows that all the strategies discussed above offers a range of advantages and also does have some limitation. However in context of the analysis of the market entry strategy in the BRIC nations it has been found that the countries like China ,India , and Brazil are the emerging nations and the foreign organizations looks to invest over there because of the wide range of benefits. Brazil is one of the nations in the BRIC community and its economic stability has made it one of the desired countries for the investors. The study reveals that the strategy of joint venture has been applied by most of the foreign multinational in the country. The reason for the choice is quite obvious as joint venture allows having a close look at the market and reduces the exposure to a wide variety of risk. This paper makes a conclusion that the option of joint venture also provides additional benefit to organizations in countries like India. The help from a local organization provides guide to the foreign companies for penetrating the market and build up a strong presence in the market. The corruptions in the market also can be reduced through the strategic alliance. As a result of the strategic alliance, the local organizations are also benefited considerably and in overall it helps to increase the stability of the economy.