Cloud Computing- Making Banks Futureproof

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Cloud Computingin Banking
What should banks know before making the switch
to the cloud?
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1. Outline

•  
• Financial organizations can benefit from cloud
  computing in a variety of ways, including
• Cost savings
• Usage-based Billing
• Business Continuity
• Business Agility
•  
• However, banks must evaluate concerns such as
  data confidentiality, security, regulatory
  compliance, and interoperability before shifting
  to the cloud.

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2. Cloud computing can boost performance of
financial institutions in several ways

• Cost Savings Cloud computing turns the upfront
  capital investment in IT infrastructure into a
  smaller, recurring operating cost leading to cost
  savings
• Usage-based Billing The unique pay-as-you-go
  model where financial institutions have to pay
  only for the services they require.
• Business Continuity With cloud computing, the
  cloud service provider drives thetechnology,
  ensures data security and disaster recovery
• Business Agility Cloud computing allows quicker
  development cycles for new products that lead to
  a quicker and better response to banking
  customers' needs

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3. Moving to the Cloud The Challenges

• Security
• The confidentiality and security of customers'
  financial data are paramount. Any kind of
  security breach can lead to financial losses,
  reputation, and customer trust.   
•  
• Regulatory and compliance
• Banking and financial institutions have to comply
  with many government regulations such as banking
  customers cannot be stored outside the national
  boundaries and others. 

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4. Factors that contribute to cloud
implementation success

• Having a clearly defined cloud strategy
• Provable return on investment
• Demonstrated cloud service delivery capabilities

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5. The Future of Banking is on the Cloud

• The benefits of cloud computing for banking
  sector are clear.
• Leads to lower capital costs
• Cloud is safe for banking
• Enables banks to leverage cloud technology
  innovate
• Improves customer satisfaction

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ESDS BFSI Community Cloud

• Cloud dedicated to the banking and finance
  industry
• Supports core banking solutions, hosted banking
  solutions, security services
• Industry compliant cloud Certified by Government
  of India 
• Serving 400 banks and financial institutions
  across India.

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Thank You
getintouch_at_esds.co.in
18002093006
www.esds.co.in