Cloud Computing in Banking

Deloitte. Cloud Computing Analysts are projecting continued growth and increased enterprise adoption of cloud computing in the future. For the past few years, Information Technology leaders in banking have been enamored by "as-a-service" concepts and the potential to unleash the power of distributed computing, virtualization, and unambiguous networking. The message being spread is one of capacity and cost – the ability to tap into a nearly unlimited scale of computing power, storage, platforms, and software with the hope of lowering overall technology spending. %3. Cloud computing move beyond the building blocks of capacity to deliver finished services that directly address business objectives and goals. Instead of talking about machine images or database instances, the discussion shifts to being customer-focused, fit-for- purpose, effectiveness and efficiency, optimized collaboration, improved service delivery and innovation. The cloud is finally being put in terms that the business can relate to, while enabling improved service delivery, sustainable solutions, improved governance, risk and compliance management, and increased differentiation. Adoption of Cloud in Banking "Banks, insurers, governments, and retailers use the cloud for email and other business support functions (such as service support, collaboration, file-sharing and web conferencing)" Gartner - May 2012 Private Clouds According to a 2012 Gartner survey the banking industry is adopting private clouds (cloud computing services owned and operated on-site by enterprise). Benefit of control over security. Google Analytics gmail a single Saas Applications delivered as subscription service, for both consumers Software As A Service and business. Virtualized infrastructure (i.e. CPUS, network, storage) delivered as a service. The cloud consumer provisions servers, storage and database services on the rented cloud infrastructure. AWS virtual database, Amazon Amachines laas Infrastructure As A Service Non-mission critical areas such as IT management, server capacity and storage are preferred cloud entry points for the financial institutions (IDC – 2012) Deloitte's approach is based on "value creation". We assist Main Obstacle Security concerns with third parties holding company information - Architectural design principles used to develop existing application did not consider operation in the cloud clients to develop and implement cloud computing, at every stage throughout the cloud adoption journey. Banking Industry Drivers The attractiveness of cloud is the ability to rapidly innovate in low-risk environments, providing solutions that can scale at Internet speed based on business and/or market demands, agility, integration, collaboration, flexibility and the orchestration of capabilities. Expand cloud initiatives into strategic or competitive functions Align Initiatives and Key Focus Areas with Cloud Readiness The exploration of cloud computing should start with a clearly defined objective in mind. If cloud computing is viable, answers to key questions and longer term positions need to be developed: • How do cloud computing technologies and services align with business and IT strategic goals? • What business benefits can be derived by utilising cloud computing technologies, and to what degree? • How can you determine which, if any, cloud computing technologies and services are suitable for the company? • How does cloud technology differ with existing service types, in terms of functions and characteristics? • How much flexibility in Capital / Operating Expenditures can be gained? • Which cloud computing technology fit your current or planned IT infrastructure and architecture? • What cloud computing initiatives can be planned to take place in the next 2-3 years? ------------------------------------------------------ 2012 Delote & Tauche. Al rghts reserved. Member of Deioite Touche Tonmersu Umite Roduce by the Deloite Satrem Arica Communication and Brand teemin Johamestug. South Atria SA Cloud Computing Centre of Excellence Contact: Dr Mariana Carroll [email protected] Deloitte. Cloud Computing Analysts are projecting continued growth and increased enterprise adoption of cloud computing in the future. For the past few years, Information Technology leaders in banking have been enamored by "as-a-service" concepts and the potential to unleash the power of distributed computing, virtualization, and unambiguous networking. The message being spread is one of capacity and cost – the ability to tap into a nearly unlimited scale of computing power, storage, platforms, and software with the hope of lowering overall technology spending. %3. Cloud computing move beyond the building blocks of capacity to deliver finished services that directly address business objectives and goals. Instead of talking about machine images or database instances, the discussion shifts to being customer-focused, fit-for- purpose, effectiveness and efficiency, optimized collaboration, improved service delivery and innovation. The cloud is finally being put in terms that the business can relate to, while enabling improved service delivery, sustainable solutions, improved governance, risk and compliance management, and increased differentiation. Adoption of Cloud in Banking "Banks, insurers, governments, and retailers use the cloud for email and other business support functions (such as service support, collaboration, file-sharing and web conferencing)" Gartner - May 2012 Private Clouds According to a 2012 Gartner survey the banking industry is adopting private clouds (cloud computing services owned and operated on-site by enterprise). Benefit of control over security. Google Analytics gmail a single Saas Applications delivered as subscription service, for both consumers Software As A Service and business. Virtualized infrastructure (i.e. CPUS, network, storage) delivered as a service. The cloud consumer provisions servers, storage and database services on the rented cloud infrastructure. AWS virtual database, Amazon Amachines laas Infrastructure As A Service Non-mission critical areas such as IT management, server capacity and storage are preferred cloud entry points for the financial institutions (IDC – 2012) Deloitte's approach is based on "value creation". We assist Main Obstacle Security concerns with third parties holding company information - Architectural design principles used to develop existing application did not consider operation in the cloud clients to develop and implement cloud computing, at every stage throughout the cloud adoption journey. Banking Industry Drivers The attractiveness of cloud is the ability to rapidly innovate in low-risk environments, providing solutions that can scale at Internet speed based on business and/or market demands, agility, integration, collaboration, flexibility and the orchestration of capabilities. Expand cloud initiatives into strategic or competitive functions Align Initiatives and Key Focus Areas with Cloud Readiness The exploration of cloud computing should start with a clearly defined objective in mind. If cloud computing is viable, answers to key questions and longer term positions need to be developed: • How do cloud computing technologies and services align with business and IT strategic goals? • What business benefits can be derived by utilising cloud computing technologies, and to what degree? • How can you determine which, if any, cloud computing technologies and services are suitable for the company? • How does cloud technology differ with existing service types, in terms of functions and characteristics? • How much flexibility in Capital / Operating Expenditures can be gained? • Which cloud computing technology fit your current or planned IT infrastructure and architecture? • What cloud computing initiatives can be planned to take place in the next 2-3 years? ------------------------------------------------------ 2012 Delote & Tauche. Al rghts reserved. Member of Deioite Touche Tonmersu Umite Roduce by the Deloite Satrem Arica Communication and Brand teemin Johamestug. South Atria SA Cloud Computing Centre of Excellence Contact: Dr Mariana Carroll [email protected]