Cloud Computing's Role in Modern Banking: A Comprehensive Analysis

This report delves into the application of cloud computing within the banking sector, examining its impact on various aspects of the industry. The research methodology involves a primary data collection method, incorporating a literature review and qualitative data collected through interviews with bank employees. Key areas of focus include online and mobile banking, data storage, and security concerns. The findings highlight the benefits of cloud-based services, such as improved efficiency and enhanced customer service through mobile payment options. However, the research also acknowledges security concerns, including data loss and insider threats, and emphasizes the need for robust data protection measures. The report discusses the current state of the banking industry, reflecting on the issues faced and the potential of cloud computing to address these challenges. References to relevant literature on cloud computing and its applications in finance are also provided, offering a comprehensive overview of the topic.

CLOUD COMPUTING
IN BANKING SECTOR

INTRODUCTION
• This project would be entirely based
upon the workplace environment of the
banks.
• The Cloud computing is associated with
a creation of a lot of opportunity for the
bankers so as to get connected with the
users directly.
• The method that would be used for
implementing the project is primary data
collection method.

LITERATURE REVIEW
• Application of cloud in banking industry
• Online Banking
• Mobile banking
• Data storage
• Data security

RESEARCH/FINDINGS
• The results and outcome derived from the individual
interview sessions (qualitative data collection) carried out
involving the 10 employees from different banking
organization are analyzed.
• Most of them have accepted about the security concerns in
cloud computing including data loss, malicious insider and
lack in forensics.
• Organization need to show concern about data protection
laws and regulations.

RESEARCH/FINDINGS
• The banking firm employees that were interviewed in the
research mostly uses different types of approaches for
the purpose if encouraging their customers to using
online banking services and mobile payment options.
• The majority of the people that were interviewed agreed
that the adoption of public cloud based services could be
beneficial for their daily business operations.
• When asked this question, the greater number of
participants said that the already understand the benefits
of mobile payment services and its added security
requirements.

There have been proper understanding of cloud computing in the
research paper. This research has explained about the current
state of the banking industry. The issues faced in the banking
industry has been reflected in the paper. I have understood the
need of cloud computing in banking industry. Various applications
of cloud computing in banks have been discussed.
REFLECTION

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REFERENCES