Cloud Computing in Banking Sector - Project Proposal and Plan

ITC571 - Project Proposal and Plan
Full Name
Student ID
Subject ITC571 – Emerging Technology and Innovations
Assignment No Project Proposal and Plan
Due Date 23-March-2019
Lecturer’s Name Malka N. Halgamuge
Cloud Computing in Banking Sector
This project would be entirely based upon the workplace environment of the banks. The project would
be considering the various way by which the cloud services would be benefiting the organization along
with understanding the various security and other issues that are likely to be faced while using the cloud
computing environment. The main reason lying behind the selection of this topic is that cloud
computing technology is an emerging technology which is being used in almost every field. Besides
this, the services that are provided by the computing is associated with helping a lot in making the
various processes much more easily along with helping in the reduction in cost in numerous ways.
Banking sectors are one of the crucial sectors of today’s world, and for that reason, it needs to make use
of the latest technology to satisfy its customers. The research would also be helping in understanding the
security issues along with the benefits.
3. Supervisor Approval - Yes
I. INTRODUCTION
2. Rationale
A variety of benefit is provided by the cloud service provides to the banks and this includes increased
flexibility as well as scalability along with lowered costs and improved organizational efficiency.
However the banks are still hesitant in the adaptation of the cloud technology and some of the major
fears of the banks include the following:
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Security:
For any of the bank it is very important to keep the data secured as the information related to the banks
is very sensitive in nature which is initially responsible for making the information much more valuable
as well as vulnerable. Due to the fact that all the banking related information is even more sensitive
along with being valuable it needs to be secured.
Control:
Handling of the control of the critical business applications as well as the data is one of the major
concern. The adaptation of the cloud computing environment means handling over of the entire control
to the hands of the service providers which would be initially responsible for reduction of the ability of
the data owners to be flexible and agile. This means by adaptation of the cloud environment the banks
are putting themselves at the mercy of the service providers.
5. Conceptual or Theoretical Framework
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4. Research Questions
Q1. What is the role played by Cloud Computing in the banking sector?
Q2. What are the Impacts and prospects of cloud computing in the Banking sector?
Q3. What are the existing policies governing the space of the cloud computing?
Q4.What are the Impacts of Cloud computing in the performance and the productivity of the bank?
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Q5.Who are the major stakeholders included in the space of cloud computing?
6. Methodology
II. MATERIALS AND METHODS
Analysis of the Source Information:
The database of Google scholar has been used for searching the key terms like the cloud computing,
impact of cloud computing in banking, benefits of cloud computing and many more. The database of
Google has helped a lot in finding useful articles and journals related to the topic. Additionally the
various advantages and disadvantages of cloud computing has also been understand after researching the
articles. Besides this different library sources has also been used which included books and news
articles. In addition to this various transcripts concerning the unique nature of cloud computing has also
been used.
Research method:
The research method that has been used is this scholastic research work includes the primary data and
the secondary data. The secondary research is a very common research method and generally involves
the usage of the information which others have already gathered by making use of the primary research.
Different sources like the journals, media sources and research articles would be used for conducting the
entire research. Investigations of the previously published research papers would be done so as to
understand the findings of the researchers and for understanding the gaps. Depending upon the earlier
findings the entire research study would be conducted so as to conduct further investigation and for the
deployment of the cloud computing environment in the banks.
The primary data is generally collected from the general population who are connected with the banks
and are associated with the utilization of the computing innovations for their business operations.
Qualitative as well as quantitative data would be collected for the examination.
Data collection:
Information has been gathered from different sources like the news articles, diaries and the yearly
reports and this are generally termed as the auxiliary information. In the process of exploring the entire
background only the information which seem to be essential should be gathered so as to satisfy the
destination of the examination think about. The information are generally assisted by the reliable sources
which are generally determined by depending upon the type of accessibility and this mainly includes the
quantitative information and the subjective information.
Primary data would be collected by means of interviews which would be considered as the qualitative
data and would be analyzed by means of critical thinking and comparing them with the findings of the
literature review.
Ethical issues:
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