The Future Impact Of Cloud Banking
S. Kavitha, K. Vinodini, B. Madhana Rekha · Journal of Emerging Technologies and Innovative Research · 2018
The cloud banking is a paradigm shift from traditional banking to internet banking by which infinite computing capabilities and resources such as servers, storage, networks, applications and services are delivered as service to customers through internet. Cloud economics is attractive and closely related with financial service organisations. Cloud banking system provides facilities for users to develop, deploy and manage their applications on the cloud as well as co-operate with current economic uncertainties, interconnected global financial system and growing customer demands. Though the financial service firms can be benefited from cloud computing like perceived cost savings, ease of scaling in and scaling out, faster time –to- market for deploying systems, computerisation of enterprise wide data as service, standardisation of technology, customer satisfaction and mobility of service, they have to meet the challenges like security and confidentiality of using cloud technologies in banking sector. Future of cloud computing has created an excitement around the world. But there is a fear of cloud security too. With the increase in advance security layers in storage area, enterprise could achieve the confidence to use it and it could pave a path of having the data in one plat form.