SCHOOL OF INFORMATION SCIENCE

INFORMATION SYSTEM MANAGEMENT (IM245)

MANAGEMENT OF BUSINESS RECORD (IMR652)

Prepared by :
HAIQAL AZHAR BIN KHAIRIL AZHAR (2022897954)
MUHAMMAD HAZIQ DANIAL BIN MOHD NAWAWI (2022645766)

Prepared for :
DR. NURUSSOBAH BT HUSSIN

Date Of Submission :
15 NOVEMBER 2022
 Pair Work :

MAYBANK2U

Prepared by :

HAIQAL AZHAR BIN KHAIRIL AZHAR (2022897954)

MUHAMMAD HAZIQ DANIAL BIN MOHD NAWAWI (2022645766)

SCHOOL OF INFORMATION SCIENCE

MARA UNIVERSITY OF TECHNOLOGY

PUNCAK PERDANA, SELANGOR

15 NOVEMBER 2022
TABLE OF CONTENT

NO CONTENT PAGE
NUMBER

Acknowledgment i

1. INTRODUCTION 1

2. OBJECTIVES 2

3.
DEFINITION OF EACH CHARACTERISTICS 3-6

4. DISCUSSION OF EACH CHARACTERISTICS

7 - 10

5. SWOT ANALYSIS 11- 14

6. CONCLUSION AND RECOMMENDATIONS 15

7. REFERENCES 16
ACKNOWLEDGMENT

Assalamualaikum, first of all we want to thank our lecturer, Dr. Nurussobah bt Hussin for
giving us a great opportunity to finish this assignment. In performing our assignment, we had to
take the help and guideline of some respected people, who deserve our greatest gratitude. The
completion of this assignment gives us much patience. We would like to give our gratitude again
to Dr. Nurussobah for giving us a good guideline for assignment throughout numerous
consultations after the classes. We would also like to extend our deepest gratitude to all those
who have directly and indirectly helped us in finishing this assignment. Many people, especially
our classmates and family members themselves, have made valuable comment suggestions on
this assignment task which gave us inspiration to improve our assignment. We thank all the
people for their help directly and indirectly to complete our assignment.

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 1. INTRODUCTION

Maybank Berhad, which is the largest financial services provider in Malaysia and one of
the most successful banking conglomerates in South East Asia, operates the online banking
platform known as Maybank2u. People frequently utilise Maybank2u for a variety of financial
activities, including making online money transactions, paying with QR codes, applying for
online credit cards, and many more. As a result of these kinds of operations, Maybank2U is
required to keep records of the business choices and transactions it makes in order to comply
with the standards for corporate responsibility. Because so many people always utilise this
online banking platform in their day-to-day operations, Maybank2U creates a great deal of new
records each and every day. In order to preserve the value of these documents, they must first
be gathered, then managed, and last meticulously maintained.

This case study is being written for the purpose of providing a detailed description of the
four distinct types of records that are related with internet banking. These records are authentic,
authoritative, unique, and static respectively of Maybank2u.

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2. OBJECTIVES

● To have an understanding of the meaning of authenticity as well as the

significance of this concept in banking management.

The authenticity of records can be figured out by looking at the materials and
knowing what happened when they were made, managed, and used. Most of the time,
this analysis includes a look at how the materials look, what they say, what they mean,
and how they are put together. You can also figure out if something is real by looking at
how it was made, managed, and used.

● To understand the meaning of authoritative and its importance

Authoritative banking is to overseer t the financial system so that it stays stable.

This is done so that the banking industry, which is very important to the economy,
doesn't have to deal with big shocks or even go out of business. So, the focus of the
authority in charge is on how well the institutions being watched are doing financially and
how they act.

● To have the understanding about the meaning of unique and its significance in the
concept of online banking records

The one-of-a-kind quality of records, with the goal of eliminating all instances of
duplicates. The one-of-a-kind nature of the data can be deduced from the distinctive
elements they contain, such as the call number and receipt number for online banking.

● To understand what is static and its application in the online business records

The fact that records cannot be changed or updated in any way by any person
makes static records very valuable. This is due to the fact that the records did not
receive a replacement and have been completed.

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 3. DEFINITION OF EACH CHARACTERISTICS

AUTHENTICITY

The extent to which records and various other sources of evidence are genuine and
have not been tampered with. In most cases, the authenticity of records can be deduced from
an analysis of the materials and a comprehension of the actions associated with their creation,
management, and use. This analysis typically includes an evaluation of the physical
characteristics, content, context, and structure of the materials in question. Authenticity can also
be deduced from the actions associated with their creation, management, and use. The
authenticity of a record is determined by whether or not it is comparable to its own description.
Anyone who uses a record or another piece of evidence has the ability, through the process of
authentication, to verify that the record was made by the person or organisation that claims to
be the record's creator. Even if a record is real, it does not necessarily mean that the
information it contains is reliable or accurate; there are authentic documents out there that
contain inaccurate or misleading data.

Regardless of the information contained within the record, it is imperative that the
legitimacy of the record be verified in order to ascertain whether or not it is plausible to think that
the recognised individual or organisation was responsible for its creation and management. The
realness, sincerity, or truthfulness of something is referred to as its "authenticity," and these are
all related concepts. Authenticity may be described as consistency, which refers to the
harmonious relationship that exists between the traits on the outside and the values on the
inside of an entity. In a nutshell, authenticity can be defined as consistency. Authenticity can be
defined as conformity when there is a harmonic link between an entity and the social norms of
its community. This is the case when there is a connection between an entity and the social
norms of its community which is Maybank2u.

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DEFINITION OF EACH CHARACTERISTICS

AUTHORITATIVE

Authoritative is a formally established organisation or group that has been granted the
authorization to carry out a particular task. The rules can be enforced by some groups in the
business world, and individuals who breach the norms can even be punished. For example, the
Maybank managers has the authority to monitor any and all financial transactions that take
place within their maybank respective places.. These organisations derive their power from the
governing government as well as from international treaties.

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DEFINITION OF EACH CHARACTERISTICS

UNIQUE

In general terms, Unique is something that is very special and unusual. Unique in the
term of business record is when retained in the appropriate context, records are special or
unique. This is because the records are valuable since they were produced during a particular
business transaction. Other than that, according to the journal article named “The American
Archivist stated that uniqueness is the most significant and features copies, even if the records
being duplicate, the records are not quite the same. This means that uniqueness are the things
that are very special and it cannot be duplicated.

Besides that, unique also can be identified as one-of-a-kind features and valuable. Other
than that, unique records can be defined as records that have been created in the course of a
specific transaction. Moreover, records also stand out due of their relationship to other records,
which sets them unique. In conclusion, unique is something that is very unusual and cannot be
duplicated or copied. Unique also the main nature of records that means unique is one
important characteristic for the records.

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DEFINITION OF EACH CHARACTERISTICS

STATIC

The term "static" refers to something that is neither moving or changing, and it is
frequently used to describe concepts that cannot be seen. In the context of the administration of
records, the phrase "static" refers to a record that has been modified or tampered with, such
that it is no longer reliable as evidence of the transaction that it had originally documented. For
instance, if the minutes of a meeting are altered after they have been authorised, then such
minutes can no longer be considered to be reliable recordings of the meeting. The information
contained in the documents is authentic and cannot be altered in any way. When discussing
business records, the term "static" refers to the records' inability to be modified or revised. This
is due to the fact that the data regarding the client is fixed and cannot be altered.

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 4. DISCUSSION OF EACH CHARACTERISTICS

AUTHENTICITY

Authenticity is important in the banking term.The process by which a user can gain
access to the services provided by a bank is referred to as bank authentication. This process is
more essential in the digital world because it is simpler for criminals to commit fraud and identity
spoofing there, but it still occurs when people contact with one another in person. In its most
basic form, authentication consists of two stages: The user identifies themselves to the system
by providing such information.Verification requires the user to provide evidence that they are
who they say they are.The in-person version of identification in banking often involves
identifying oneself by name and surname and displaying the ID card, but technology is already
involved in these processes.

To continue, verifying a person's identity and taking steps to Know your customer are
both important parts of the process of detecting and preventing illegal activity. Authentication in
banking minimises the risk of fraud by making it more difficult to access accounts, either through
the use of biometric authentication in banking or by transmitting passwords to a specific device.
Because of the need to limit direct human contact during the COVID-19 pandemic, the
proliferation of online transactions has led to a strengthening of authentication systems in
banks, as well as a diversification of these systems to meet a wide range of requirements, from
the onboarding of new customers to the processing of routine financial transactions. The
combination of a username and a password is the most straightforward method. .

Figure 1

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DISCUSSION OF EACH CHARACTERISTICS

AUTHORITATIVE

According to my research authoritative is important because The primary goal of banking

supervision is to ensure that the stability of the financial system is preserved. This is done to
avoid situations in which the banking industry, which plays an essential part in the economy, is
subjected to large shocks or even completely fails. Therefore, the focus of the competent
authority is on the financial health and behaviour of the institutions that are being monitored.

The main idea that need to be discussed is that the goal is to reduce the impact of each
specific crisis as much as possible. This does not suggest that it is possible to prevent the
establishment of institutions that are poorly managed or inefficient; rather, it emphasises the fact
that the responsibility for the correct operation of banks lies directly and solely with their
managers. As a result, the function of supervision is comprised of the design and
implementation of systems to analyse institutions. These systems contribute to the prevention of
possible crises and the reduction of their number, significance, and cost. In order to achieve the
goal of financial stability, it is not enough to just lessen the severity of individual crises or stop a
single or multiple crises from setting off a domino effect of defaults that could have an impact on
the system. It is of the utmost importance to make certain that payment systems run efficiently
and to put in place adequate safeguards against the possibility of a pandemic spreading. As a
consequence of this, the reduction of "systemic risk" is undeniably an issue (as well as a
supervisory responsibility) of the biggest significance, to which the greatest amount of effort is
spent.

To summarise, supervision is necessary in handling Maybank2U website, in the absence

of an authorised figure to manage or supervise the bank website, the system and the market will
inevitably collapse, and there is no way to prevent this from happening.

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DISCUSSION OF EACH CHARACTERISTICS

UNIQUENESS

The uniqueness of the records is important because in the sense that when kept in their
proper context, they are a component of a single collection or series of transactions.
Additionally, they are valuable since they were produced during a particular transactional in
business activity. Besides that, they are more significant since they were produced during a
particular transaction or business procedure. Furthermore, the uniqueness of the internet
banking records are important because it can avoid the misuse of personal data contained in
the record.

The example of unique in the Maybank2U records is the online transaction id. The
transaction ID is a special set of numbers that defines each transaction. There are never any
duplicate transaction IDs because each transaction ID is always unique. Typically, the system
generates this transaction key after classifying the transaction as successful. The key typically
contains both numbers and letters (a 12-18 digit code).The transaction ID is required if the
consumer wishes to look for a particular payment. Online transaction id can be find at the
receipt of the transaction.

Figure 2

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DISCUSSION OF EACH CHARACTERISTICS

STATIC

The static is very important to the business records because it can make the records
cannot be duplicated. This is because there is no substitute for the records. Records also
cannot be bothered and disturb. A record that has been changed or tampered with in any way is
no longer admissible as evidence of the transaction it originally captured. This makes the
business records be accurate and not added. For instance, if a meeting's minutes are changed
after they have been approved, they are no longer regarded as accurate records of the meeting.

The example of static in the Maybank2U is the account number of the customers. An
account number is a unique set of digits assigned to the account holder when you open
a bank account. People can control transfers to and from their account by using your
bank account number. In Maybank2U, customer account number is been used in online
transactions. It instructs the bank which account to withdraw money from or which
account to deposit money in. The account number are static it cannot be change.
Another example of static in Maybank2U is the customer credit card numbers. The
credit card number is a 12 or 16-digit number grouped in slots of 4. It is an identification
element of your credit card. Credit card number are static because it cannot be change,
duplicate and edited. Credit card number contains the data about the transaction of the
customer money.

To summarize, Maybank2U contains 2 static features that cannot be change and

edited because these features containing very important data about the customer online
banking activities and for online money transaction.

Figure 3

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 5. SWOT ANALYSIS OF MAYBANK2U

The SWOT Analysis is a tried-and-true management framework that provides a

company like Maybank with the ability to measure its own business and performance in
comparison to those of its rivals. Maybank is recognised as one of the most successful brands
operating in the banking and financial services industry. Here we are discussing about the
Maybank2u Swot analysis.

STRENGTH

Maybank2u Competitive advantages can be seen by examining the core competencies

that make the company successful. Financial stability, skilled employees, product differentiation,
and intangible assets like brand value all play a role in a company's ability to succeed.
Maybank2u SWOT analysis highlights its strengths as follows:

● Exists in 17 different countries.

● Clientele numbers in excess of 21 million people.
● A high dividend yield in comparison to both the market and its rivals.
● The most successful financial institution in all of Malaysia.
● Maintain a sense of community within the realm of financial services.
● Can move money without the need to go into the company itself.
● Can be used anytime and anyplace without restriction.
● There is no need to wait a significant amount of time to complete your
transaction.
● Have one time TAC code to complete your transactions
● It is possible to change passwords on a frequent basis to avoid getting hacked.

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WEAKNESSES

There are positive aspects and negative aspects of every brand, and the negative
aspects are the areas in which the positive aspects have opportunity for improvement.
Weaknesses are attributes that the maybank2u either does not possess or that its competitors
perform exceptionally well in. The following deficiencies are uncovered by the SWOT analysis of
Maybank2u:

● Access to the website requires the use of a wifi connection.

● The maximum amount that can be transferred via instant interbank funds transfer is
RM30,000. The daily RM30,000 limit applies to both Instant Interbank Fund Transfer and
Interbank GIRO.
● A robust framework is required in order to guarantee that the website or application will
always function properly.
● Need several information technology technicians in order to keep its system current.
● Slow download and upload speeds as a direct result of an all-time high number of users
simultaneously attempting to access its services.
● If one is not vigilant, it is possible for hackers to quickly hack it.

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OPPORTUNITY

Any given business's brand can have a few of potential entry points via which to broaden
its activities. New markets, improved products, better communication, and other forms of
improvement could all be opportunities for a brand. The following is a list of potential positive
outcomes that could result from conducting a SWOT analysis on Maybank2u:

● There is a significant potential for company expansion into other southeast Asian
countries.
● Strong potential for extending business operations to Hong Kong
● Maybank2u has seen significant growth in internet banking.
● In Maybank's desire to continuously improving the quality of the client experience, the
company looks to the meteoric rise of digital banking and startups in the financial
technology sector for ideas and motivation
● . The goal of the bank is to simplify and expedite the process by which consumers can
access the bank's various financial services by leveraging pervasive digital technologies.
● Increasing operational efficiency through digitalization

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THREATS

Threats are any circumstances or circumstances that have the potential to have an
adverse effect on a business. An increase in competition, shifting policies by the government,
new alternatives, and so on are all examples of things that could potentially go wrong. In
conducting its SWOT analysis, Maybank2u has identified the following threats:

● alterations to the economies of the countries of South East Asia.

● Developments in the field of macroeconomics in the modern period.
● Have principal competitors.

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 6. CONCLUSION AND RECOMMENDATIONS

To Conclude, The mobile software also includes a display of different remittance

choices, which makes international money transfers more open and honest. Scan & Pay, a
personal spending tracker that accounts for both debit and credit purchases, and a savings
planner that can be personalised are some of the additional Maybank2U features that contribute
to an enhanced user experience.The expansion of online banking is comparable to a dagger
with two edges, on the one hand, it puts a greater level of convenience right at your fingers. On
the other hand, digital vulnerabilities and scams have the potential to impact our lives more than
they ever have before. The Maybank Group protects itself against these dangers by instituting
an in-house cybersecurity architecture that is comprehensive in scope and includes internal
governance, human expertise, and network capabilities. To continue, Maybank is well
positioned to dominate the rapidly expanding digital banking area with its comprehensive
portfolio of digital products and services, which can be easily incorporated into the routine
activities of a customer. The Group continues to protect and grow major client markets in this
era of digitalization without losing sight of its primary philosophy, which is humanising banking,
despite the fact that we are in the midst of a period of rapid technological advancement.

I have a few suggestions for the maybank2u, and I'd want to share . Users will use the
maybank2u apps frequently, and if the system is not as user-friendly as the company had
hoped, it will cause people to stop using the service. Therefore, they should upgrade their
system on a regular basis. Aside from that, they should look into hiring an appropriate IT
professional to improve their firewall in order to ensure that the information of their users is kept
secure. In conclusion, maybank2u needs to increase its promotional efforts in order to bring in a
larger customer base.

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 7. REFERENCES

2u, M. (2012). Maybank2u is rated "average" with 3.1 / 5 on Trustpilot. Trustpilot. Retrieved
November 8, 2022, from https://www.trustpilot.com/review/www.maybank2u.com.my

Eng, S. (2022, June 17). Celebrating success : How maybank is leading digital transformation in
banking sector. TM One. Retrieved November 8, 2022, from
https://www.tmone.com.my/resources/think-tank/article/celebrating-successhow-maybank-is-
leading-digital-transformation-in-banking-sector/

Identification, E. (2022, March 21). The importance of user experience during bank
authentication process. Retrieved November 8, 2022, from
https://www.electronicid.eu/en/blog/post/importance-user-experience-during-bank-
authentication/en

Espana, B. (2007). Banking supervision. Banco de España - Banking Supervision - Banco de

España's supervisory function - Basic objectives. Retrieved November 8, 2022, from
https://www.bde.es/bde/en/areas/supervision/funcion/objetivos_basico/Objetivos_basicos.html

Online, T. S. (2022, September 28). Maybank to fully migrate to secure2u authentication for
online transactions by June 2023. The Star. Retrieved November 8, 2022, from
https://www.thestar.com.my/business/business-news/2022/09/28/maybank-to-fully-migrate-to-
secure2u-authentication-for-online-transactions-by-june-2023

Online, T. S. (2022, April 25). Maybank apologises for disruption on selected banking services.
The Star. Retrieved November 8, 2022, from https://www.thestar.com.my/business/business-
news/2022/04/25/maybank-apologises-for-disruption-on-selected-banking-services

Tan Siew Mung/theedgemarkets.comMarch 03, 2022 19:15 pm +08. (2022, March 4). Maybank
launches first-ever digital home financing solution, offers up to 105% financing margin for first-
time buyers. The Edge Markets. Retrieved November 8, 2022, from
https://www.theedgemarkets.com/article/maybank-launches-firstever-digital-home-financing-
solution-offers-105-financing-margin

M. O'Toole, J. (1994). The American archivist. The American Archivist, 57(4), 632–658.
https://doi.org/10.17723/aarc.57.1.k114x7884p210332

Maybank Credit Card. Credit Cards | Maybank Malaysia. (n.d.). Retrieved November 10,
2022, from
https://www.maybank2u.com.my/maybank2u/malaysia/en/personal/cards/
credit_cards_listing.p ge

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