Information Technology in Banking: Workloads and Cloud Benefits

This report examines the crucial role of information and communication technology (ICT) in the banking sector, focusing on core business services such as payment services, financial services, and ancillary services. It addresses the security and privacy implications of digital banking, emphasizing data encryption in the cloud. The report analyzes various ICT workload types, including batch processing, distribution, transactional operations, and analytics, highlighting the benefits of cloud technologies like cost reduction, flexibility, and risk mitigation. It advocates for private cloud implementation due to security concerns and explores the use of mainframes in major banks for their reliability and performance. The study concludes that cloud computing offers significant advantages to the banking sector, although further research and development are needed for broader adoption. Desklib provides access to this document and many other resources for students.

Running head: INFORMATION TECHNOLOGY
INFORMATION TECHNOLOGY
Name of the Student
Name of the University
Author note

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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

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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

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 Ancillary services: These can be stated as those service which are given from the end of
the bank which is apart from the concept of the banking service. These services can be
stated as minuscule of the different services which are offered by the bank. The main
example which can be stated in the context are the cheque pick up facility, door step
banking etc.
Part B
The main sector which can be taken into consideration relating to the security and the
privacy can be applied to the digital or electronic banking sector. One of the aspect which can be
considered here is the security of the personal data of the user. The data which is stored in the
bank can be considered as very much crucial due to the economy of the person being related to
the concept. Security and privacy implementation within the core area of banking can be stated
as one of the most vital area which is related to the concept. One of the security aspects which
are majorly included into the concept is the encryption of the data in the concept of the cloud
were the data is stored. This directly helps the enhancement of the security of the data.
Bank’s needs for ICT workload types
Part A
Batch: The focus sector which is linked to the concept of the batch can be related to the
concept of creation of technique which can be implemented within the working of the bank.
Distribution: It can be stated it is directly related to the aspect of the operation and how
the overall working of the bank is being conducted.
Part B

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Transactional: There are different types of software which are readily available in the
market which can be implemented within the concept which can directly enhance the service
which is related to the concept of the operation.
Software: Software is very much beneficial due to the factor that it directly reduces error
which are involved into the concept and different benefit can be directly be gained from the area
of the implementation (Sanaei et al., 2014).
Part C
Analytics: The data of the system should be secured from different types of intruders so
the sector of analytics can be considered as one of the most important area which can be included
into the concept.
Operation: The operation can be stated as a main area of concern factor. It can be stated
as one of the most crucial area of execution which is related to then operation of the banking
sector
Benefits of using cloud technologies in banking sector
Part A
There are different types of benefit which can be seen in the sector of the implementation
of the cloud computing into the concept of the working. The main aspect which can be taken into
consideration is the reduction of the cost which is related to the concept. The main area of the
reduction of the cost is due to the banks do not need to heavily invest in the sector of the
dedicated hardware (Tebaa, Zkik & El Hajji, 2015). The cloud computing directly gives the
aspect of flexibility to the working which can directly adopt different types of changes in the

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working. Risk factor reduction can also be considered as one of the factor which can be included
into the advantage sector.
Part B
The cloud service which is implemented in the sector of the bank is the private cloud.
This is due to the sector that there are different issue relating to the privacy and security
implications which are avoided in the concept of the private cloud with the implementation of
the VPN which is Virtual Private network (Awadallah, 2016). It can be stated that the concept of
the working of the bank can be readily be moved to the concept of the infrastructure which can
be very much beneficial in the sector of the working of the banking sector.
 Transactional workload: The concept can be directly being related to the overall
transactions which are made in the concept of the bank. The main drivers in this context
are the customer. The private cloud gives the direct provisioning of the different services
which are related to the concept.
 Analytics Workload: The concept can be very much being beneficial in the sector of the
working with large amount of data which is generated from the system.
 Database Workload: This can be related to the concept of the storage of the data which
can be easily be done within the concept of the private cloud (Li et al., 2017).
Why major banks use mainframes
Part A
The main reason behind the banking sector relying on the concept of the mainframe is
due to the factor that the concept is very much reliable relating to the performance which is
generated in the sector of the software and the hardware requirement (Oliveira, Thomas &

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Espadanal, 2014). On the other hand, the sector of the availability can also be stated as one of the
points which can be added into the sector.
Part B
The main sector which can be related to the support to the mainframe is the analytics
speed. This is due to the factor that the speed of transaction can be stated as one of the most
important factor which can be related to the concept of the operation which is involved into the
concept (Rittinghouse & Ransome, 2016). Each of the service which is related to the banking
would be needed instance response.
Conclusion
At the end of the report a statement can be made that the banking sector can gain
different types of benefit from the technology relating to the cloud computing. The sector can be
stated to be in the stage of research and the technology would be playing a more dominating role.

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References
Rittinghouse, J. W., & Ransome, J. F. (2016). Cloud computing: implementation, management,
and security. CRC press.
Awadallah, N. (2016). Usage of cloud computing in banking system. International Journal of
Computer Science Issues (IJCSI), 13(1), 49.
Li, P., Li, J., Huang, Z., Gao, C. Z., Chen, W. B., & Chen, K. (2017). Privacy-preserving
outsourced classification in cloud computing. Cluster Computing, 1-10.
Oliveira, T., Thomas, M., & Espadanal, M. (2014). Assessing the determinants of cloud
computing adoption: An analysis of the manufacturing and services sectors. Information
& Management, 51(5), 497-510.
Sanaei, Z., Abolfazli, S., Gani, A., & Buyya, R. (2014). Heterogeneity in mobile cloud
computing: taxonomy and open challenges. IEEE Communications Surveys &
Tutorials, 16(1), 369-392.
Tebaa, M., Zkik, K., & El Hajji, S. (2015). Hybrid homomorphic encryption method for
protecting the privacy of banking data in the cloud. vol, 9, 61-70.
Stergiou, C., Psannis, K. E., Kim, B. G., & Gupta, B. (2018). Secure integration of IoT and cloud
computing. Future Generation Computer Systems, 78, 964-975.
Garrison, G., Wakefield, R. L., & Kim, S. (2015). The effects of IT capabilities and delivery
model on cloud computing success and firm performance for cloud supported processes
and operations. Intern

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Alzahrani, A., Alalwan, N., & Sarrab, M. (2014, April). Mobile cloud computing: advantage,
disadvantage and open challenge. In Proceedings of the 7th Euro American Conference
on Telematics and Information Systems (p. 21). ACM.
Islam, M. A., Islam, M. K. B., & Beg, M. N. S. (2015, November). Paradigm shift towards cloud
computing for Banking sector. In Computer and Information Engineering (ICCIE), 2015
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