Banking And Financial Sector With Cloud Computing
S. Roslin · Journal of Emerging Technologies and Innovative Research · 2018
The evolution of Cloud computing makes the major changes in computing world as with the assistance of basic cloud computing service models like SaaS, PaaS, and IaaS an organization achieves their business goal with minimum effort as compared to traditional computing environment. In this paper, we aim to pinpoint the future and scope of Cloud computing in banking and fin tech. We first discuss two related computing paradigms - Service-Oriented Computing in banking and financial sectors, and their relationships with Cloud computing. We then identify several models used from the Cloud computing adoption perspective. This document provides a beneficial insight into how cloud computing can be used in the banking industry, various business models associated with it and the problems faced by the banking industry in adopting this technology.