• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Computers in Financial Services

Extracts from this document...

Introduction

Financial Services Personal and business customers need to be protected with their financiers, this is the reason why there is a legislation taken out called 'Financial Services Act 1986'. This is a recent regulation on UK companies. The 'Financial Services Act 1986' deal with acts, practices or course of conduct likely to defraud or deceive investors. Only authorized investment businesses have a statutory right to advertise or promote the sales/purchase of investments. The reason why this legislation was taken out was because say for example, if an financial advisor gets commission on certain investments then he/she may advise investor on taking out wrong investments as they gain commission even if it mean the investor looses out on a lot of money. So therefore the investor must state all the possibilities in investing in certain investments. Over the last few years ICT has developed a great deal. Within half a century, computers and information technology have changed the world and affected millions of lives in ways that no one could have anticipated. ...read more.

Middle

The Internet is available on digital televisions, wap mobiles and game consoles, so therefore if people need to find out any information on their investments like say for example shares they can do just by logging onto the internet by computer or phones etc. Advantages of Internet There are advantages to the customers, buying investments. They are: 1) Visit standard life, Barclays without having to leave home, at any hour of the day; 2) Can find out more/look for the cheapest investor before deciding to buy; 3) Can email the company without having to ring them and being on hold. 4) Improves the flow of information between advisor and investor. Advantages of Internet 1) Anyone that has the Internet can obtain quick financial reports/advise/ information. For example, if competitors in the financial market want to find information on investments that other investor provide at what price or any promotions that their competitors are doing they can by just going onto their web site, so this is an advantage to the competitors. ...read more.

Conclusion

However, some web sites automatically send a program to the web site and run it before anyone gets that chance to check it for viruses. For example, in 1999 a macro virus called Melissa, once on a system using outlook express, took the first 50 entries from the Address Book and then mailed itself as an attachment to the e-mail addresses. The e-mail carried the message 'Here is that document you asked for... don't show anyone else ;-)'. It rapidly spread to millions of computers worldwide, disrupting large systems by overloading servers and causing them to close down. 3) Limited number of users worldwide: the reason why this is a problem is because people think that everything revolves around the internet, but not everyone has the internet at home, most big companies do. Not everyone can afford the Internet that is the reason why they do not have it. So financial services will have to as well as use the Internet for advertising but also use things that everyone has for example TVs etc. Another way for financial services to communicate with there customers is by e-mail, if customers what to ask particular questions or need help on something. Advantages of e-mail ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Communications section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Communications essays

  1. Computer viruses

    It must be noted that not all malicious codes are viruses. A common misconception is that other kinds of electronic nasties, such as worms and Trojan horse applications, are viruses. They aren't. Worms, Trojan horses, and viruses are in a broader category analysts call "malicious code."

  2. ICT Systems in Everyday Life: Your Local Community

    differentiation form the home, electronic management of business, and of course, the details of the technology itself. I will address many of these issues in later articles. To gain perspective, it's useful to understand how we arrived where we are today.

  1. Information Security.

    Most product documentation offers a method to get updates and patches. User should be able to obtain updates from the vendor's web site. Read the manuals or browse the vendor's web site for more information. Some applications will automatically check for available updates, and many vendors offer automatic notification of updates via a mailing list.

  2. Free essay

    Impact of ICT in Community

    Marry can also attach he Braille Keyboard to her laptop so when she goes on a holiday or when she is traveling, she will still be able to have the benefits of the Braille keyboard because she can attach it to the laptop.

  1. SK-II has already established as a leading brand within its' skin-care industry. By empowering ...

    * Spiller V. Anderson, President, Hometown Marketplace Inc. The real secret is in making money with a tested, proven process that can build your business for the long run without risking your earnings, time or sanity. Affiliate marketing is performance-based advertising. You pay on results when you made a profit.

  2. OCR GCSE Business & Communication Task 7 Report

    Antivirus software works as a protection helping prevent persistent hackers, viruses or annoyance entering my computer and my database. This could result in loss of files, data being deleted and transferred or virus' being attached. A firewall acts as an almost 'bodyguard ' for my computer, as any incoming files

  1. Impact of E-Commerce.

    Woolworths have recognised that providing a quality user experience is an essential and sustainable advantage. Garrett highlights that it is user experience that: - Forms an impression of the company's offerings - Differentiates the company from its competitors - Determines whether customers will come back Woolworths main goal of their

  2. Tesco plc is the most innovative food retailer in the UK retail market.

    Then in December 1996, Tesco struck out working relationship with suppliers such as Microsoft to work out how to do it and learn from pilot trials. Currently, Tesco have strong working relationship with various IT suppliers like Microsoft, MSN, UniPower Systems, Designercity and the likes.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work