Cloud Computing : Issues and Complications for Banking Sector

Cloud computing is a quickly developing and excellent promising technology. It has induced the concern of the computer society of whole world. Cloud computing is Internet-based computing, whereby shared information, resources, and software, are provided to PCs and portable devices on-demand, as the energy grid. Cloud computing is the creation of the combination of grid computing, distributed computing, parallel computing, and ubiquitous computing. A number of banks are now adopting cloud technologies to accomplish their varied purposes. Cloud technology offers business models for delivering modern 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 requirements. The idea of this study is explore the background and service model. Furthermore, this study will identify critical issues and implications in cloud computing for banking organizations.