Impact of Cloud Computing in Finance Graphs
IJSREM Journal · INTERANTIONAL JOURNAL OF SCIENTIFIC RESEARCH IN ENGINEERING AND MANAGEMENT · 2024
The financial sector, which serves as the backbone of the global economy, has undergone significant transformation with the adoption of cloud computing. This paper presents a detailed analysis of the connection between cloud computing and finance, drawing insights from an in-depth review of scholarly articles in the Scopus database. As financial institutions navigate evolving customer demands, regulatory challenges, and the need for innovation, cloud computing has emerged as a dominant force. It has ushered in a new era where competition is reshaped and operational efficiency is prioritized. The introduction highlights the critical role cloud computing plays in enhancing the financial landscape. Traditionally, financial institutions have been complex and resource-heavy systems, but they now face the pressing need for digital transformation. Cloud technology's scalability, flexibility, and cost-efficiency offer a guiding light for organisations aiming to reimagine their operations in this digital era. This paper examines not just the evolution but the profound shift in which cloud technology becomes a key driver in redesigning the way financial services are developed, delivered, and experienced. Keywords—cloud computing, AWS, machine learning, finance.