Application of ICT in Banks: Cloud and Enterprise Computing

Running head: CLOUD AND ENTERPRISE COMPUTING
CLOUD AND ENTERPRISE COMPUTING
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CLOUD AND ENTERPRISE COMPUTING
Table of Contents
Introduction........................................................................................................2
Discussion..........................................................................................................2
1. Core business services offered by a bank............................................2
2. Bank’s needs for ICT workload types....................................................2
3. Benefits of using cloud technologies in banking sector........................3
4. Why major banks use mainframes........................................................3
Conclusion.........................................................................................................3
References.........................................................................................................5

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CLOUD AND ENTERPRISE COMPUTING
Introduction
This report aims to discuss the application of the ICT in the banks from
banking sector. The banks are presently observed to be using the mainframe and
the cloud technologies for supporting the daily operations of the business. The core
business services that are provided by the bank are briefly described in this report.
The requirement of the ICT workloads kinds by the bank has been briefly described
within this report. The benefits of the utilisation of the cloud technologies in the
banking sector has been briefly stated in this report and the reasons why the banks
utilises the mainframe has been stated in this report. Lastly, this report concludes
with the appropriate conclusion for the report.
Discussion
1. Core business services offered by a bank
Some of the core services that are provided by the banks are the Accepting
deposit, the advancing of the loans and the foreign currency exchange. The service
of the accepting of the deposit from the savers is the common service that is offered
by the banks (de Reuver et al., 2015. The banks accept the deposit from the people
who could save the money but they could not utilise in the profitable sectors. The
business style of the banks are majorly oriented on the profit from the business (Ngo
& Nguyen, 2016). therefore, for the effective advancement of the loan to the public
and then generate the interest from these aspects are considered as the profit. The
banks also deal with the foreign currencies. As there might be the requirement of the
customers, the banks exchanges the foreign currencies with the local currencies that
is significantly essential for the setting down all the dues in any international trade
(Gu & Li, 2017). There is the significant requirement of the security and the privacy in
the banking sector that helps in ensuring none of the transactions could be hijacked
by any attacker. The privacy is required for maintaining the significant confidentiality
of the records of the customers and all the various details of the individual who have
deposited their money in the banks. The details of the transactions in the foreign
exchange are required to be maintained and managed with the extensive security for
preventing any malicious user accessing the money from the banks.
2. Bank’s needs for ICT workload types
The batch workloads are significant designed for operating in the background
(Wang, Liang & Zhang, 2017). Commonly the batch workloads intends to process
the huge volumes of the data. these batch workloads are significantly utilised in the
banks for the execution of processing of the huge amount of the data (Mahmoud &
Moshovos, 2016). These workloads includes the significant data that is produced
majorly from the months of the transactions and the quarterly financial results that
are generated for determining the profit of the banks (Pugsley et al., 2014). For
example, the Commonwealth bank utilises the batch workload for the processing of
the transactional details of the customers of the bank. The National Australia Bank
utilises the batch workloads for the collection and the processing of the major
quarterly results. The commonwealth bank utilises the transactional workload for the
maintenance of the order processing by the customers. The National Australia bank
also utilises this transactional workload for the management of the computing
environment of the various suppliers. The analytics workload type is extensively
used by the National Australia for the management of the partnership with the