ITECH1104: Cloud and Enterprise Computing in Banking Sector

This report investigates the application of Information and Communication Technology (ICT) within the banking sector, specifically examining the use of mainframe and cloud technologies to support core business operations. It outlines the various financial services offered by banks, including individual and business banking services, and highlights the ICT workload types necessary for these operations, such as Automated Teller Machines (ATMs). The report emphasizes the benefits of cloud computing in banking, such as improved manageability and accessibility, while also explaining the continued significance of mainframes in handling the high processing demands of financial transactions. The report references various sources to support its findings, providing a comprehensive overview of how banks leverage technology to enhance efficiency, security, and customer service.

ICT IN BANKS

Core business services offered
by a bank
 Banks usually provide various customers with various services
that are financial in nature and which help people in managing
their lives
 Various types of services that are provided by the banks include
individual banking, banks provide a huge range of services in
order to assist people in the process of managing their finances
such as checking their accounts, debit and credit cards, savings
accounts, management of insurance and wealth.
 Various types of business banking have various categories, these
include loans for business, checking their accounts, debit as well
as credit cards, savings accounts, merchant services and
treasury services.

Bank’s needs for ICT workload
types
 For the prospective of banks they need to employ numerous
staffs in order to provide their services.
 Examples of the way banks utilize ICT batch workload types
include Automated Teller Machine (Hon & Millard, 2016)
 It operates a network of automated teller machine, the ATMs can
be used for the purpose of withdraw cash, cheque an account
balance, order a particular statement or print a particular mini
statement, order a particular cheque book.

Bank’s needs for ICT workload
types
 Banks could keep their operating codes down due to the fact that
fewer employees are required to word behind the counter in
various branches. Customers have around 24 hours of access to
the accounts and all the days a week (Ijaz, Khalid & Abubaker
Ijaz, 2017).
 There is no need of carrying huge amount of cash around
because a large amount of ATMs means that it is available
 One more reason for which banks need ITC workload types
include clearing cheques, after a cheque has been written as well
as paid in the bank, clearing begins

Benefits of using cloud
technologies in banking
sector Improved manageability: cloud computing helps various large
financial industries in making rapid adjustments to various
resources for the unpredictable as well as fluctuating business
requests along with having their applications uploaded online
within minimum time because of the vastly improvement of
management of the clod computing which does not require too
much of maintenance.
 Accessibility: with the help of cloud computing various limitations
of the client server environments have not been applied because
accessed data as well as applications from other computer,
anywhere.

Why major banks use
mainframes
 Almost all the banks use a particular mainframe because only
this has the ability to provide the power of processing to support
the numerous functions banks require a computer to carry out
 Main framed not only keeps the bank records as well as crunch
numbers (Jia, Han & Jiang 2015)
 Banks make use of main frames because only these has the
ability to provide for a particular bank’s every need even without
braking a particular proverbial sweat.

References
 Hon, W. K., & Millard, C. (2016). Use by banks of cloud
computing: An empirical study.
 Ijaz, U., Khalid, H., Abubaker Ijaz, A. H., & Butt, I. (2017).
Development of Cloud Computing Based Intranet Model for Banks
and Financial Institutes to Use Resources Efficiently for Achieving
Flexibility in Activities and Work Portability. NFC IEFR Journal of
Engineering and Scientific Research, 5.
 Jia, G., Han, G., Jiang, J., Sun, N., & Wang, K. (2015). Dynamic
resource partitioning for heterogeneous multi-core-based cloud
computing in smart cities. Ieee Access, 4, 108-118.