Cloud Computing in Banking Sector: Benefits and Workload Types

Running head: INFORMATION TECHNOLOGY
INFORMATION TECHNOLOGY
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2INFORMATION TECHNOLOGY
Table of Contents
Introduction......................................................................................................................................3
Core business services offered by a bank........................................................................................3
Bank’s needs for ICT workload types.............................................................................................4
Benefits of using cloud technologies in banking sector..................................................................5
Why major banks use mainframes...................................................................................................6
Conclusion.......................................................................................................................................7
References........................................................................................................................................8

3INFORMATION TECHNOLOGY
Introduction
The banking sector can be stated as one of the most crucial sector in the life of the
common people (Islam et al., 2015). in the sector of the technological advancement the banking
sector is also taking into consideration the adaptation of the concept of the cloud to gain different
types of advantage.
The main consideration of the report is to take into consideration different aspects which
are related to the banking sector in the concept of the cloud computing technology.
Core business services offered by a bank
Part A
The core business solution which are provided by a bank are stated below:
 Payment service: The service which is related to the payment can be considered as one
of the major backbone which is related to the entire flow of money relating to an
economy. Earlier it can be stated that there were different options which were available
such as the demand draft, cheque etc. but in recent times most of the sector are digitalized
with the involvement of online transfer of money
 Financial sector: The financial sector can be stated as a sector which is recently
launched taking into consideration different aspects which are related to financial. These
solutions majorly focus on the aspect of the foreign exchange business, line of service of
credit, management of wealth and broking system. These sector can be considered as
very much beneficial for the bank due to the commissions which are gained from the
concept or the approach