Online ISSN: 2515-8260

Keywords : banking industry

Cloud Computing Technology-Security Issues In Banks-An Overview

Dr. B. Balanagalakshmi; Dr. Sujeevan Kumar Bullard

European Journal of Molecular & Clinical Medicine, 2020, Volume 7, Issue 2, Pages 5299-5304

To enhance the capacity for data management and to offer various services, Cloud computing technology is a best source. This technology is providing various services to the customers on demand through internet. Several benefits are provided by this Cloud technology to banks such as reducing costs, improved capacity of data processing and superior excellence in banking services. Financial institutions would use the services of cloud technology with more flexibility and efficiency as and when they require. But several organizations are hesitating to introduce this technology due to security challenges. This paper is studying about the challenges of cloud technology in offering various enhanced services to banks as well as to customers with alternative solution to contain the issues. Moreover, it is discussed about various challenges in offering these financial services to banking institutions. Hence the data is gathered through secondary sources such as newspapers, magazines and various journals. The study is descriptive in nature.

Cloud Computing Technology – A Digital Transformative Solution For Banking Industry- An Overview

Dr. Sukhavasi Santha kumari; Dr. N. Aruna

European Journal of Molecular & Clinical Medicine, 2020, Volume 7, Issue 2, Pages 5305-5310

The banking industry hosts a large amount of customer data and is always anxious with providing the best services to its customers. In such a scenario, cloud computing technology is the contemporary transformative digital solution that offers unprecedented security, quickness and scalability to banking industry, while improving the ability to manage customer data. Several benefits are offered by Cloud technology such as cost effectiveness, enhanced data processing capacity and high-end financial services, digital accountability, transparency and timeless. Additively the application of cloud computing in banking industry provides the relative solution for the security issues. Large banks, building their own customized financial cloud as a precise tool, in contrary small banks relying on public financial cloud for a cloud service provider, can help their business to grow quickly and effectively by reducing information gap with limited man power. This paper is intended to provide an overview to this advanced technology and advantages of the cloud computing of banking industry above the traditional banking processes.