Short Notes for Information Systems for Banks

Business ecosystem: The interdependent network of organizations

including suppliers, distributors, customers, competitors, government agencies and so on involved in the delivery of a specific product or service through both competition and cooperation. The idea is that each business in the ecosystem affects and is affected by the others, creating a constantly evolving relationship in which each business must be flexible and adaptable in order to survive, as in a biological ecosystem.

Business model: Description of means and methods a firm employs to earn the revenue projected in its plans. It views the business plan implemented by a company to generate revenue and make a profit from operations. The model includes the components and functions of the business, as well as the revenues it generates and the expenses it incurs. Electronic commerce: The process of buying and selling goods and services electronically, involving transactions using the internet, networks and other digital technologies. Electronic commerce operates in all four of the major market segments: business to business, business to consumer, consumer to consumer and consumer to business NORA: Stands for Nonobvious Relationship Awareness which means technology than can find obscure hidden connection between people or other entities by analyzing information from many different sources to correlate relationships. Grid Computing: Interconnected computer systems applying the resources of many computers in a network to a single problem. Grid computing usually consists of one main computer that distributes

information and tasks to a group of networked computers to accomplish a common goal. Grid computing is often used to complete complicated or tedious mathematical or scientific calculations. Techno-stress: A feeling of anxiety or mental pressure from over exposure or involvement with (computer) technology. Symptoms include aggravation, hostility towards human, impatience and enervation. Blog: A Web site containing the writer's or group of writers' own experiences, stories, observations, opinions, etc., and often having images and links to other Web sites. Open source software: Software that provides free access to its program code, allowing users o modify the program code to make improvements or fix errors. OLAP: It stands for Online analytical processing. It means the capability for manipulating and analyzing large volumes of data from multiple perspectives. Fair information system politics(FIPs): A set of principles originally set forth in 1973 that governs the collection and use of information about individuals and that forms the basis of most U.S. and European privacy laws. Digital Firm: Organization on which nearly all significant business process and relationship with customers, suppliers, and employees are digitally enabled and key corporate assets are managed trough digital means. TPS: It stands for transaction processing system. It means computerized systems that perform and record the daily routine transaction necessary to conduct the business; they serve the organizations operational level.

It is an informational scheme for the collection, storage, retrieval and modification of transactions made by an organization. An example of a transaction processing system commonly used in business are the systems employed by major credit card companies found in almost every retail store. Phishing: The act of acquiring private or sensitive data from personal computers for use in fraudulent activities. It is a method of identity theft carried out through the creation of a website that seems to represent a legitimate company. The visitors to the site, thinking they are buying something from a real business, submit their personal information to the site. The criminals then use the personal information for their own purposes, or sell the information to other criminal parties. Sniffer: Sniffer is a type of eavesdropping program that monitors information traveling over a network. When used legitimately, sniffers can help identify potential network trouble-spots or criminal activities on network. but when used for criminal purposes, they can be damaging and very difficult to detect. Sniffers enable hackers to steal proprietary information from anywhere on a network, including email, company files and confidential reports. Virtual Company: A business organization relying on telecommunications and computer technology for its operations without being limited to traditional organizational boundaries or physical location. Value chain Model: Model that highlights the primary or support activities that add a margin of value to a firms products or services where information system can best be applied to achieve a competitive advantage. FIP: (See Fair information system politics)

Interorganizational System: Information system that automate the flow of information across organizational boundaries and link a company to its customers, distributors or suppliers. Organizations might pursue an IOS for the following reasons: Reduce the risk in the organization, Pursue economies of scale, Benefit from the exchange of technologies, Increase competitiveness, Overcome investment barriers, Encourage global communication The most common form of IOS is Electronic Data Interchange, which permits instantaneous computer-to-computer transfer of information. Computer forensics: The scientific collection, examination, authentication, preservation and analysis of data held on or retrieved from computer storage media in such a way that he information can be used as evidence in court of law. T Lines: High speed data lines leased from commutation providers, such as T-1 lines (with transmission capacity of 1.544 megabits per second) Offshore Software: provision of software development services by an external supplier positioned in a country that is geographically remote from the client enterprise; a type of offshore outsourcing. The main reason behind the companies to use offshore software development services is the higher development cost of the local service providers. Legacy System: A legacy system is an old computer system or application program that continues to be used because the user (typically an organization) does not want to replace or redesign it to avoid high cost. Social Engineering: Tricking people into revealing their passwords by pretending to be legitimate users or members of a company in need of information.