STUDY OF BANKING SECURITY USING CLOUD COMPUTING

The Cloud presents an opportunity for tremendous change in the way the business of banking is carried out in the modern day, however, concerns still remain. These concerns are largely related to security of information and data in the cloud and compliance. Banking organizations and the financial sector as a whole has been relatively slow in adopting the cloud. Their strategy has been to wait and watch on how the cloud performs both from a security as well as robustness of infrastructure point of view. While security concerns imply the fact that many banks have been slow or nearly reluctant to use public cloud services in core banking, public cloud can play a bigger role in a banks' horizontal and back-of ice processes that does not directly involve sensitive data pertaining to customers.