Enterprise and Cloud Computing in Banking Industry

Running head: REPORT ON THE ENTERPRISE AND CLOUD COMPUTING IN
BANK
REPORT
ON
ENTERPRISE
AND
CLOUD COMPUTING
IN
BANKING INDUSTRY
Name of the Student
Name of the University
Author Note:

Enterprise and Cloud Computing1
Introduction:
Considering the current technological growth it has been noticed that several
industries has significantly incorporated advance technologies into the industrial
infrastructure with the purpose to enhance their services. Followed by this aspect
this report has primarily focused on the application of the enterprise and cloud
computing in the banking as well as other financial industry by considering the
features offered by the technologies. Hence, considering the above objective this
paper will effectively discuss about the core business services that are offered by the
banks. Along with this, it will also include the discussion on the ICT workload types
followed by which it will describe how the application of IT has enhanced that
services of a bank sector. Apart from the discussion on above mentioned
technologies it will also describe about the impact of mainframe in the bank
operations. Lastly, it will conclude by elaborating the effectiveness of ICT in banking
sector.
Core Services Offered by Bank:
A financial institute where a person can open a financial account in which the
user can deposit the money as well as they can also withdraw the money as well as
several other services (Asadi et al, 2017). Followed by this aspect a detail
elaboration on the core services are listed below-
Core services-
Core banking includes several beneficial features to the bank services which
includes the operations like opening a bank account, Payment and Cheque
processing and servicing loans.

Enterprise and Cloud Computing2
Opening a bank account is one of the fundamental services offered by a
bank as other banking services with be available to a customer only after opening an
account in the respective bank.
Followed by the above offered services it has been noticed that processing
the cheques and the payment it one of the most essential services offered by a
bank (Baranowski, 2016).
Along with the above mentioned services offered by a bank it is also noticed
that serving loans to the customer with respect to certain interest rate is also an
effective services offered by a bank.
Security and Privacy policy-
In case of any financial institute such as a bank there is a huge necessity to
incorporate effective security and privacy policies into the banking services. Followed
by this aspect a detail elaboration on the security and privacy policies in the banking
industries are listed below:
 Customer data protection policy, according to which a bank is highly
responsible for protecting the customer data from any sort of threats
(Chaudhury & Lodhwal, 2017). Followed by this it can be stated that while
opening an account in a bank the customer information is safe with the
organization.
 Policies related to the collection of customers data, has mentioned that there
are several limitations in gathering the information of any individual as it may
cause significant effect on the services of the bank as well as the privacy of
the user.