{"id":7135,"date":"2016-04-11T05:46:17","date_gmt":"2016-04-11T05:46:17","guid":{"rendered":"http:\/\/www.esds.co.in\/blog\/?p=7135"},"modified":"2018-05-12T06:00:26","modified_gmt":"2018-05-12T06:00:26","slug":"the-ultimate-banking-and-financial-sector-with-cloud-computing-machine","status":"publish","type":"post","link":"https:\/\/www.esds.co.in\/blog\/the-ultimate-banking-and-financial-sector-with-cloud-computing-machine\/","title":{"rendered":"The ultimate banking and financial sector with cloud computing machine !"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/www.esds.co.in\/blog\/wp-content\/uploads\/2016\/04\/banking-sector.png\" alt=\"\" width=\"674\" height=\"385\" \/><\/strong><\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_76 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.esds.co.in\/blog\/the-ultimate-banking-and-financial-sector-with-cloud-computing-machine\/#How_cloud_computing_will_help_financial_sector_to_improve_performance\" >How cloud computing will help financial sector to improve performance:<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.esds.co.in\/blog\/the-ultimate-banking-and-financial-sector-with-cloud-computing-machine\/#Cost_Saving_%E2%80%93\" >Cost Saving &#8211;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.esds.co.in\/blog\/the-ultimate-banking-and-financial-sector-with-cloud-computing-machine\/#Great_scalability_and_flexibility_%E2%80%93\" >Great scalability and flexibility &#8211;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.esds.co.in\/blog\/the-ultimate-banking-and-financial-sector-with-cloud-computing-machine\/#Agility_%E2%80%93\" >Agility &#8211;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.esds.co.in\/blog\/the-ultimate-banking-and-financial-sector-with-cloud-computing-machine\/#Managed_backup_%E2%80%93\" >Managed backup &#8211;<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.esds.co.in\/blog\/the-ultimate-banking-and-financial-sector-with-cloud-computing-machine\/#Cloud_options_used_by_financial_sector\" >Cloud options used by financial sector:<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.esds.co.in\/blog\/the-ultimate-banking-and-financial-sector-with-cloud-computing-machine\/#Card_and_mobile_payment_processing_%E2%80%93\" >Card and mobile payment processing &#8211;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.esds.co.in\/blog\/the-ultimate-banking-and-financial-sector-with-cloud-computing-machine\/#Core_banking_%E2%80%93\" >Core banking \u00a0&#8211;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.esds.co.in\/blog\/the-ultimate-banking-and-financial-sector-with-cloud-computing-machine\/#Human_resource_and_talent_management_%E2%80%93\" >Human resource and talent management &#8211;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.esds.co.in\/blog\/the-ultimate-banking-and-financial-sector-with-cloud-computing-machine\/#Infrastructure_as_a_service_%E2%80%93\" >Infrastructure as a service &#8211;<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.esds.co.in\/blog\/the-ultimate-banking-and-financial-sector-with-cloud-computing-machine\/#Below_are_some_predictions_related_on_financial_sectors_with_cloud_computing\" >Below are some predictions related on financial sectors with cloud computing:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.esds.co.in\/blog\/the-ultimate-banking-and-financial-sector-with-cloud-computing-machine\/#Future_of_financial_industry_with_Cloud_technology\" >Future of financial industry with Cloud technology:<\/a><\/li><\/ul><\/nav><\/div>\n\n<p style=\"text-align: justify;\"><strong>Banking and financial sector basically operate over the vast IT infrastructures that deal with Big amount of data on a day-to-day basis.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.\u00a0<\/strong><\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"How_cloud_computing_will_help_financial_sector_to_improve_performance\"><\/span><strong>How cloud computing will help financial sector to improve performance:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Cost_Saving_%E2%80%93\"><\/span>Cost Saving &#8211;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">With cloud computing banks will not have to invest in hardware, software,<a href=\"https:\/\/www.esds.co.in\/dedicated-server-hosting\"><strong> Dedicated Servers<\/strong><\/a> and manpower to monitor the same. Also the unique nature of cloud computing allows financial institutions to pick and choose the services required and pay for whatever they have consumed.<\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Great_scalability_and_flexibility_%E2%80%93\"><\/span>Great scalability and flexibility &#8211;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">The cloud gives bank ability to respond quickly on customers\u2019 demands, which gives a competitive adge. They can scale up and scale down technology according to need.Improves efficiency \u2013 Due to standardization in the cloud, it is easy to integrate new technology and applications. This brings clients close to their clients, i.e transaction banking eases payment between buyers and sellers.<\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Agility_%E2%80%93\"><\/span>Agility &#8211;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">Cloud is available on demand so less infrastructure investment is required. Also financial institutions experiences shorter development cycle for products which leads to faster and more efficient response to the need of a customer.<\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Managed_backup_%E2%80%93\"><\/span>Managed backup &#8211;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">Cloud can manage banks critical data, to ensure in the event of disaster a bank can bounce back rapidly and easily.<\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Cloud_options_used_by_financial_sector\"><\/span><strong>Cloud options used by financial sector:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Card_and_mobile_payment_processing_%E2%80%93\"><\/span>Card and mobile payment processing &#8211;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">Card and mobile payment processor are now operating on the cloud. The processors on cloud provides financial institutes and banking sector specialized expertise needed in card processing. They also provide fraud detection, security and uptime delivery.<\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Core_banking_%E2%80%93\"><\/span>Core banking \u00a0&#8211;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">Now a days cloud service providers understand the financial service space and provide turnkey <a href=\"https:\/\/www.esds.co.in\/core-banking-hosting\"><strong>Banking<\/strong> <\/a>space that gives online banking, electronic bill paying.<\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Human_resource_and_talent_management_%E2%80%93\"><\/span>Human resource and talent management &#8211;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">Financial service companies are considering cloud based HR services that coffers HR software like payroll, benefits, talent management. This has resulted into better recruitment for companies.<\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Infrastructure_as_a_service_%E2%80%93\"><\/span>Infrastructure as a service &#8211;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">To avoid costly hardware and software upgrade banks are moving their application development and testing to cloud providers.<\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Below_are_some_predictions_related_on_financial_sectors_with_cloud_computing\"><\/span><strong>Below are some predictions related on financial sectors with cloud computing:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol style=\"text-align: justify;\">\n<li>69% of customers already use the internet to buy financial products online.<\/li>\n<li>50% of world\u2019s bank will disappear through cracks opened by digital disruption of the industry.<\/li>\n<li>Mobile banking usage will exceed 1.75 billion by 2019 representing 32% of the global population.<\/li>\n<\/ol>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Future_of_financial_industry_with_Cloud_technology\"><\/span><strong>Future of financial industry with Cloud technology:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">In future, <a href=\"https:\/\/www.esds.co.in\/enlight-cloud-hosting\"><strong>Cloud technologies<\/strong><\/a> along with analytics, mobile technologies and big data will allow banks to unlock value from existing data. This will lead to address risk management and drive customer engagement. By standard development processes, scalability and collaboration provided by the cloud, the banks will be able to create new and innovative product and service offerings for their customers.<\/p>\n<p style=\"text-align: justify;\">\n","protected":false},"excerpt":{"rendered":"<p>Banking and financial sector basically operate over the vast IT infrastructures that deal with Big amount of data on a day-to-day basis.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&#8230; <\/p>\n<div class=\"clear\"><\/div>\n<p><a href=\"https:\/\/www.esds.co.in\/blog\/the-ultimate-banking-and-financial-sector-with-cloud-computing-machine\/\" class=\"gdlr-button small excerpt-read-more\">Read More<\/a><\/p>\n","protected":false},"author":81,"featured_media":7147,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[15],"tags":[1357,1345,1445],"class_list":["post-7135","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cloud-computing","tag-banking-sector","tag-cloud-computing","tag-cloud-computing-in-financial-services"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.esds.co.in\/blog\/wp-json\/wp\/v2\/posts\/7135","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.esds.co.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.esds.co.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.esds.co.in\/blog\/wp-json\/wp\/v2\/users\/81"}],"replies":[{"embeddable":true,"href":"https:\/\/www.esds.co.in\/blog\/wp-json\/wp\/v2\/comments?post=7135"}],"version-history":[{"count":8,"href":"https:\/\/www.esds.co.in\/blog\/wp-json\/wp\/v2\/posts\/7135\/revisions"}],"predecessor-version":[{"id":8854,"href":"https:\/\/www.esds.co.in\/blog\/wp-json\/wp\/v2\/posts\/7135\/revisions\/8854"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.esds.co.in\/blog\/wp-json\/wp\/v2\/media\/7147"}],"wp:attachment":[{"href":"https:\/\/www.esds.co.in\/blog\/wp-json\/wp\/v2\/media?parent=7135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.esds.co.in\/blog\/wp-json\/wp\/v2\/categories?post=7135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.esds.co.in\/blog\/wp-json\/wp\/v2\/tags?post=7135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}