Cloud Computing in Banking Sector: Benefits and Mainframe Importance
Added on 2023-06-05
7 Pages1871 Words350 Views
|
|
|
Running head: CLOUD COMPUTING
CLOUD COMPUTING
Name of the Student
Name of the University
Author Note:
CLOUD COMPUTING
Name of the Student
Name of the University
Author Note:
1CLOUD COMPUTING
Table of Contents
Introduction............................................................................................................2
Discussion.............................................................................................................2
Three core business offered by bank.................................................................2
Security and privacy needs in relation to bank business service.......................3
Bank’s need for ICT workloads..........................................................................3
Benefits of using Cloud Technologies in banking sector....................................4
Bank and financial institutes have mainframe in the center...............................5
Conclusion.............................................................................................................5
References............................................................................................................6
Table of Contents
Introduction............................................................................................................2
Discussion.............................................................................................................2
Three core business offered by bank.................................................................2
Security and privacy needs in relation to bank business service.......................3
Bank’s need for ICT workloads..........................................................................3
Benefits of using Cloud Technologies in banking sector....................................4
Bank and financial institutes have mainframe in the center...............................5
Conclusion.............................................................................................................5
References............................................................................................................6
2CLOUD COMPUTING
Introduction
Mainframe continues to be most important part of the banking sector. Most of the
bank and financial institutes come up with mainframe at the center of the technology
strategies (Cleary & Quinn, 2016). Rise of startup, emergence of new technologies like
big data and faster network have focused on the fact that distributed computing will
replace the old age computing. Mainframes provide a large number of benefits like
analytical speed, security, availability and lastly reliability (Laudon & Laudon, 2016).
Banks in general deal with most sensitive and vital information. Security is known to be
a non-negotiation concern for them. Mainframe comes up with security which is built for
grounding them up.
In the coming pages of the report an idea has been provided regarding three
core business which is offered by bank. After that bank need for ICT workload type in
workload, transactional and analytics has been discussed in details. Various
advantages of cloud computing in banking sector have been discussed in details. The
last part of the report mainly provides list of reason behind the use of mainframe.
Discussion
Three core business offered by bank
The core functions of any bank are investment, corporate and lastly commercial
banking. The most basic service offered by bank are taking deposits, making loans and
lastly providing service (Oliveira, Thomas & Espadanal, 2014). A bank which fully
functions in nature comes up with 15 or more different process. Some of the customers
do business with only one of this while other do business with several. Banks can be
easily split into customer group and service line. Customer group comprises of
corporate, small business and lastly individual while the service line comprises of credit
card, mortgage, transfer, and vault services.
Security and privacy needs in relation to bank business service
Proper collection of information from different customers is required for carrying
out day to day operation. Understanding the potential damage from different privacy
loss and key policies and laws (Moro, Cortez & Rita, 2015). These law has been
established to make regulation regarding the fact that how various band can collect and
share important data of customers. In major region, customer comes up with right which
requires to be informed and share consumer data. In major regions, it is seen that
customer have the right to be informed about the kind of data to be used for privacy
policy communication.
Data security mainly emphasizes on certain measures which needed for
protection of customer’s data from any loss and unauthorized use. Some of the most
vital methods for data security are encryption, making of data, backs and lastly user
authentication (Haimes et al. 2015). With increase of outsourcing to various third-party
service providers also highlights on the requirement of data security. Various countries
around the globe have given limitation to both storage and access of customer data.
Introduction
Mainframe continues to be most important part of the banking sector. Most of the
bank and financial institutes come up with mainframe at the center of the technology
strategies (Cleary & Quinn, 2016). Rise of startup, emergence of new technologies like
big data and faster network have focused on the fact that distributed computing will
replace the old age computing. Mainframes provide a large number of benefits like
analytical speed, security, availability and lastly reliability (Laudon & Laudon, 2016).
Banks in general deal with most sensitive and vital information. Security is known to be
a non-negotiation concern for them. Mainframe comes up with security which is built for
grounding them up.
In the coming pages of the report an idea has been provided regarding three
core business which is offered by bank. After that bank need for ICT workload type in
workload, transactional and analytics has been discussed in details. Various
advantages of cloud computing in banking sector have been discussed in details. The
last part of the report mainly provides list of reason behind the use of mainframe.
Discussion
Three core business offered by bank
The core functions of any bank are investment, corporate and lastly commercial
banking. The most basic service offered by bank are taking deposits, making loans and
lastly providing service (Oliveira, Thomas & Espadanal, 2014). A bank which fully
functions in nature comes up with 15 or more different process. Some of the customers
do business with only one of this while other do business with several. Banks can be
easily split into customer group and service line. Customer group comprises of
corporate, small business and lastly individual while the service line comprises of credit
card, mortgage, transfer, and vault services.
Security and privacy needs in relation to bank business service
Proper collection of information from different customers is required for carrying
out day to day operation. Understanding the potential damage from different privacy
loss and key policies and laws (Moro, Cortez & Rita, 2015). These law has been
established to make regulation regarding the fact that how various band can collect and
share important data of customers. In major region, customer comes up with right which
requires to be informed and share consumer data. In major regions, it is seen that
customer have the right to be informed about the kind of data to be used for privacy
policy communication.
Data security mainly emphasizes on certain measures which needed for
protection of customer’s data from any loss and unauthorized use. Some of the most
vital methods for data security are encryption, making of data, backs and lastly user
authentication (Haimes et al. 2015). With increase of outsourcing to various third-party
service providers also highlights on the requirement of data security. Various countries
around the globe have given limitation to both storage and access of customer data.
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents