ITECH1104: Cloud and Enterprise Computing in Banking Report

This report provides an overview of cloud computing and mainframe technologies within the banking sector. It begins by outlining core banking services, including savings accounts, loans, and credit cards, and emphasizes the critical need for robust security and privacy measures. The report then delves into the different types of IT workloads employed by banks, such as batch, transactional, and analytical workloads, illustrating how these systems support various banking operations. Furthermore, the report highlights the advantages of cloud computing in the banking industry, including cost savings, access to the latest services, improved efficiency, and enhanced customer satisfaction. It also explores the continued importance of mainframes for major banks, emphasizing their reliability and stability in handling large-scale data processing and critical workloads. The report concludes by referencing relevant sources to support its findings, providing a comprehensive analysis of the subject matter.

Running Head: IT 0
CLOUD COMOUTING

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Contents
Core Bank Services and Security and Privacy Needs...........................................................2
Bank ICT Workload Types.....................................................................................................3
Advantages of Cloud in the Banking Industry......................................................................4
Why Mainframes is used by Major Banks............................................................................5
References.................................................................................................................................6

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Core Bank Services and Security and Privacy
Needs
The first core bank commercial services include saving accounts that enable
individuals and businesses to save money into various type of accounts and on
depending on that, interest will be generated. When bank earns profit from the
amount invested by a user, the reward can also be given to the user in form of fixed
rate of profit and thus help user to earn money with saving currency.
The next core banking service includes loans that enable a user to fetch some
specific amount of money from as per the needs and which they are again required
to give the bank at specified time in future with certain interest. There is various
reason for which a loan is taken by the user like marriage, purchasing of car,
capitalisation in business and so forth.
At last, credit cards also known to be one of the major core activity of bank
that allows users to do transactions without paying in advance and thus owe the
bank the amount of what was purchased including any sort of interest caused from
the purchase (Frei, 2008).
It is necessary for the bank to continue privacy and security for the help of
every party involved and thus they need a security system for any infrastructure that
can be easily connected to the internet while not providing possible access to
unauthorised people as due to carry out of malicious actions through disrupted
accounts (Yousafzai, Pallister & Foxall, 2009). Adopting intra networks is also
significant so that relevant data accessed by employees of bank are sustained within
the bank intranet premises. With regards to this, there is also a need to secure
various infrastructures and structures like POS machines, ATMs and more to retain
user data safe with extent to safety necessities.

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Bank ICT Workload Types
A batch workload can be used by bank during computing of interest gain on
user saving account, which may be complete at the starting of each month with
various further savings account or a credit a user has reserved, whichever on the
month beginning with all former loans or after 30 days the credit was taken or earlier
interest computation including all other loans taken on time connected in the 30 day
rotation. The batch workload can also be used by banks during sending of bank
statements as they would all be administered at the equivalent duration, with the
help of data from the preceding statement and banking data ever since.
The transactional workloads can be used by banks in ATMs when a user think
for withdrawing cash and initiate a transaction with the ATM, where the user might
demand information of any statement and this demand will then sent to a database,
where there is a processing of transaction and then the user will receive something
like money demanded, balance in account or a note that something that went wrong
like (i.e. maintenance of machine) (Castro, Goes & Méhaut, 2014). It can also be
used when somebody seeks to take out a credit as the user will call a loan and the
machine will progress the request and do its part to supply the credit with the
assistance of staff.
The analytical workloads can be used by a bank at the time of data analysing
like user inclinations that could help in knowing expending behaviours, account type,
drawings at different intervals and so on to that to comprehend how offers and
accounts can be enhanced to be better for the user and the bank itself. Own profits
can also be analysed by the bank, researching where revenue comes from as to
assess most significant sources of revenue and prospective misplacement.

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Advantages of Cloud in the Banking Industry
With banks integrating cloud computing with their system help in saving
various costs as there will be no investment in their personal hardware, staff and
software for specific jobs, as they can exploit a cloud centred substitute which
expenses less inclusive. With available updates, there will also be access to banks
of latest cloud services and this allows them to adjust services they are using to
meet their respective requirements (Nedelcu et al, 2015). Cloud computing also
allow banks to accomplish some particular tasks all at once they are required with
the help of batch workloads.
Cloud computing also results in higher efficiency while making services easier
manageable and simplified and this permits rapid transactional workloads as one
can simply access anything with the help of cloud at any duration and ultimately this
leads to higher customer satisfaction (Awadallah, 2016).
With implementation of cloud based solution in banking, there will be less risk
as not all services depend on one another and this implies when anything goes
wrong with one, there will be not impact on others as an outcome. Bank can also
lower down their fees for consumers with having an online presence and thus make
the more competitive.
Other benefits include greater flexibility in relation with internal operations with
provision of more choices in the way they provide services to the user. It will also be
allowed them to be a more updated and reorganised bank and thus help them to
provide range of services.
When bank agree users to access their services through the cloud, it will also
help them to lessens the work required to be done by employees and therefore, less
manpower will be needed allowing them to focus on other works and fulfil the needs
of the users and consumers who physically go to the division of a bank. Online, the
consumers can use various services like transfer money, loans and account details,
deposits, and much more based on bank extend range of services signifying added
transactional workloads can arise deprived of the requirement for an additional
individual.

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Why Mainframes is used by Major Banks
The mainframe is used by majority of banks as these mainframes are known
to be as most adequate form of fulfilling data processing necessities that a big
corporation have. They are designed to be reliable and stable as it will help in
executing workloads as they need without meting issues, like doing quarterly batch
workloads where accounts sheets are created from kept data and transported to the
accurate place with the right technique.
In many organisations, mainframes are considered as pillar of nearly all
routes processed by the users and staffs and also with the cloud services or its host
device for cloud services processed by bank completely (ibm.com, 2010).
In comparison with external cloud services, mainframes are much faster and
also more expected to provide near to 100% of its resources to complete operations,
which can be beneficial at the time of occurrence of batch workloads and therefore
the system is not overloaded from the sudden influx of information it required to
process (Hughes, 2013).

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References
Awadallah, N. (2016). Usage of cloud computing in banking system. International
Journal of Computer Science Issues (IJCSI), 13(1), 49.
Castro, M., Goes, L. F. W., & Méhaut, J. F. (2014). Adaptive thread mapping
strategies for transactional memory applications. Journal of Parallel and
Distributed Computing, 74(9), 2845-2859.
Frei, F. X. (2008). The four things a service business must get right. Harvard
business review, 86(4), 70-80.
Hughes, C. (2013). 3 Reasons Why Mainframes Still Matter. Retrieved from
http://aspg.com/reasons-why-mainframes-still-matter/#.XWqjUCgzbIU
ibm.com. (2010). Who uses mainframes and why do they do it?. Retrieved from
https://www.ibm.com/support/knowledgecenter/zosbasics/com.ibm.zos.zmainf
rame/zconc_whousesmf.htm
Nedelcu, B., Stefanet, M. E., Tamasescu, I. F., Tintoiu, S. E., & Vezeanu, A. (2015).
Cloud Computing and its Challenges and Benefits in the Bank
System. Database Systems Journal, 5(1), 45-58.
Yousafzai, S., Pallister, J., & Foxall, G. (2009). Multi-dimensional role of trust in
Internet banking adoption. The Service Industries Journal, 29(5), 591-605.