Cloud Computing in the Banking sector A survey

Abstract: The advent of cloud computing has changed the way IT demands are met. Cloud Computing has emerged as a new era in IT and is at the top of the agenda for every CIO.A number of banks are now adopting cloud technologies to fulfil their varied purposes. Cloud technology offers business models for delivering innovative client experiences, effective collaboration, upgraded speed to market and enhanced IT efficiency. Using cloud computing banks can create a flexible and agile banking environment that can quickly respond to new business needs. 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.

Keywords: Cloud computing, Banking, business model, Hybrid cloud.