Open AccessImpact of Cloud Computing on Banking Sector, Its Security and Future Trends.
Author(s) -
Ankita Anil Dhuri,
Anjali Santosh Mane
Publication year - 2021
Publication title -
international journal of advanced research in science, communication and technology
Language(s) - English
Resource type - Journals
ISSN - 2581-9429
DOI - 10.48175/ijarsct-1662
Subject(s) - cloud computing , cloud computing security , business , government (linguistics) , private sector , government sector , computer security , utility computing , data security , computer science , economics , economic growth , encryption , philosophy , linguistics , operating system
Government of India initiative of Digital India has encouraged banks and other financial organisations to adopt cloud computing. Because of which; Cloud Computing has seen a substantial amount of growth in every sector. Many government sector & Private sector organisations have started using cloud computing as a preferred medium for storage and analyse data which can accessed from anywhere and at any time. Cloud computing has reduced the cost of management of physical & technical Infrastructure at the same time. Banking sector has specifically seen much development after accepting cloud computing as a medium to store data, Analyse security framework & maintaining privacy at the same time. With an adoption of cloud computing, banking services industry continues to be under strict regulatory and compliance framework to maintain privacy of data and security of systems. In this document we are going to learn about cloud computing and its impact on Banking sector. Along with that we are going to understand some future trends of cloud computing with respect to banking sector.