Secure use of cloud computing in the finance sector december 2015 5 executive summary cloud computing is gradually being adopted within the european financial industry. Apr, 2017 cloud governance is a businesswide initiative because it involves compliance officers, risk managers, and senior executives as well as it. Sign in to icloud to access your photos, videos, documents, notes, contacts, and more. Asia focus is a periodic newsle er issued by the country analysis unit of the federal reserve bank of san francisco. This report provides a short introduction to the international trade aspects of cloud computing. Cloud computing creating value for businesses across the globe. Cloud computing is moving to the forefront as a focus for it leaders, csuite executives, and board members. More finance functions are embracing cloud technology.
Jul 12, 2018 cloud computing lecture notes in pdf format students are advised to follow their syllabus while studying jntuh jntuk jntua cloud computing cc study material and book. Download cloud computing notes, pdf 2020 syllabus, books for b tech, m tech, bca. Cloud computing notes pdf starts with the topics covering introductory concepts and overview. Institute of aeronautical engineering iare, hyderabad was established in 2000, by a devoted group of eminent professionals and industrialists, having a long and outstanding experience in educational system with a mission education for liberation. Cloud computing, banking, data storage, security, data privacy. Cloud technical notes research computing resources. The main point here is that the ssh protocol can be used to create tunnels into cloud vms and that this particularly applies when you want to see gui content on your local machine. Task computing and taskbased application models lecture 34 marketbased management of clouds. A cloud computing contract incorporates services for different software and applications, as well as the processing and storage of data.
A combination of lectures and handson programming assignments expose the student to the leading cloud computing paradigms and programming interfaces e. Understanding cloud computing competition, environment and. What about cloud provider employees accessing data. On august 29, 2018, the fasb issued new guidance on a customers accounting for implementation, setup and other upfront costs incurred in a cloud computing arrangement cca hosted by the vendor. Senthil raja computer science and engineering, srm university senthilraja. Secure use of cloud computing in the finance sector. Basic roots of cloud computing information technology essay introduction. Cloud computing governance framework cloud computing.
Below is the list of cloud computing book recommended by the top university in india kai hwang, geoffrey c. The vast majority of financial institutions fis still rely on inhouse infrastructure. Cloud computing in financial institutions springerlink. This article takes a more narrow view of cloud computing and focuses on those aspects of cloud computing that relate to the delivery of content and records management services for public agencies, private companies, and individual users. In addition, lectures provide an overview of the underlying technological concepts that make cloud computing possible e. Cloud computing is the use of computing resources hardware and software that are delivered as a service over a network internet.
As we have covered all topics but the topics provided in the notes are not tabulated according to latest prescribed syllabus. In this paper, we explore the concept of cloud architecture and. This chapter focuses on the potential impact that cloud computing can have on the financial services industry by examining the current context and looking at various considerations connected with the adoption of cloud services. Cloud computing definition, types of cloud, cloud services. Compliance cloud vendors take very stringent measures to make sure that in joining with and offering services to finance industries, no compliances are violated by either party. Introduction to cloud computing carnegie mellon university.
Cloud computing and grid computing 360degree compared 38 machine bootup e. Enormous computer datacentres containing commodity hardware. Lets look at the cobit model, which publishes five essential process areas both businesswide and for specific. Nowadays, three technological storms are, smart mobile devices, ubiquitous highspeed connectivity, and cloud computing. The views expressed in this publica on are solely that of the author and do not necessarily represent.
Filip blazheski cloud computing is used by most banks, but not commonly for core services, mainly due to risk concerns moving core services to the cloud could help banks focus on their primary mission and save money, but it comes with significant challenges. Although the term cloud computing is gaining in usage, there is no widelyaccepted definition,1 and numerous business strategies, technologies, and architectures are represented as cloud computing. Cloud computing and grid computing 360degree compared. It is intended for information purposes only, and may not be incorporated into any contract. Plethora of good practices on cloud but not focused on finance sector limited information sharing among public and private sector on major cloud incidents affecting finance sector. Cloud computing creating value for businesses across. Economic watch 29 april 2016 banking analysis cloud banking or banking in the clouds. Cloud computing notes pdf, syllabus 2020 b tech, bca. Cloud computing for the intelligence community in considering cloud computing for the intelligence community, security is an obvious concern. Distributed systems parallel computing architectures. Protection of data and resources is data secure in multitenant env. Benefits and challenges of cloud computing, evolution of cloud computing, usage scenarios and applications, business models around cloud major players in cloud computing.
Book of graduates research abstracts 2015 rotterdam school of. Learn how cloud can be a catalyst for enterprise business transformationand a potential gamechanger for how financial services organizations will operate in the future. Computer scientists are predicting that perhaps cloud systems will be the next generation operating system. Simply put, cloud computing is the delivery of computing services including servers, storage, databases, networking, software, analytics and intelligence over. This paper evaluates the pros and cons of the cloud and tries to provide an answer to the question whether banks will embrace cloud in the future. Virtualization of computation, storage, and communication. The cloud infrastructure works for one organization. Cloud computing is the ability to deliver computing resources as a service and these resources are made available over the internet. Nist definition of cloud computing cloud computing is a model for enabling convenient, ondemand network access to a shared pool of configurable computing resources e. Cloud computing benefits financial sector cloud computing is one of the rising areas in which it services are being offered to businesses as a commodity. The term cloud computing is broadly applied to a variety of services and it configurations.
Leveraging thirdparty computing capability over the. Cloud computing r regulation prepared by cse staff 1 unitii introduction cloud computing now a days there so many technologies such as cluster, grid, and now, cloud computing, have all aimed at allowing access to large amounts of computing power in a fully virtualized manner, by aggregating resources and. Cloud computing governance processes must dynamically monitor events that trigger continuous improvements. However, cloud governance is closely related to it, who is responsible for cloud computing. Although this provides savings in terms of finance and manpower, it brings lots of new challenges and risks. Cloud computing definition is that it is a shared pool of configurable computing resource eg. By federico etro cloud computing allows firms to rent computing power and storage from cloud computing providers, and to pay on demand. As consumers, we think nothing of connecting to dropbox or using an online graphics program. Cloud computing is a relatively new term used to describe a variety of established business strategies, technologies, and processing methodologies. At an organizational level, your cloud architect, cloud engineer, and cloud security advisor need to perform their respective roles.
Cloud computing lecture 31 introduction to cloud computing, types. Lecture 8 cloud security cloud computing software as. The informa on contained in this newsle er is meant to provide useful context and insight into current economic and. Security infrastructure protection against threats and vulnerabilities e. Net new orders machine tool industry upstream volatility in the supply chain. Lecture 8 cloud security cloud computing software as a. Svm classifier in cloud computing systems, lecture notes in computer science. Cloud based collaboration is a subset of cloud computing and only exists within a cloud computing framework.
The benefits of cloud computing are considerable, and recent accounting changes have made cloud solutions even more attractive to many businesses. Although a standard7,8,9 definition has yet to be established, in its most general. Cloud computing brings the business computing to a novel pattern from manufacturing to services. It can be managed by the company itself internal private cloud. Dec 18, 2016 cloud computing very easily scales resources without the requirement of any intervention to make sure the duties are performed without any glitches. Jan 18, 2017 in creating this report we analysed input from a number of different sources to better understand the usage of cloud services in the finance sector. Cloud computing is an emerging model of business computing. Cloud computing offers load balancing that makes it more reliable. Cloud computing lecture notes in pdf format students are advised to follow their syllabus while studying jntuh jntuk jntua cloud computing cc study material and book.
Trade finance following the steep downturn in 20082009, the trade finance industry has made a recovery. This type of infrastructure is accessible to a wide audience and belongs to a provider of cloud services. Technology and engineering international journal of recent ijrte. Covers apps, careers, cloud computing, data center, mobile. Cloud computing research issues, challenges, architecture. Cloud computing benefits financial sector informationweek. Palm vein recognition for human identification using nn. An introduction to cloud computing and international trade. Pdf cloud computing concepts, architecture and challenges. A model for enabling ubiquitous, convenient, on demand network access to a shared pool of configurable computing resources e. Clouds enhance the next generation data centers as a network of virtual computing services.
Cloud computing and grid computing 360degree compared 3. Cloud computing literally, is the use of remote servers usually accessible via the internet to process or store information. Abstractcloud computing is the development of parallel computing, distributed computing, grid computing and. Theory download pdf unit i cloud computing fundamentals. This is an important distinction, as prior studies of cloud computing have not clearly defined the scope of cloud computing in terms of the purpose of the systems. A bankers guide disclaimer the following is intended to outline our general product direction. Cloud computing is highly cost effective because it operates at higher efficiencies with greater utilization. Capital market firms must build a knowledge base and skills with the help of cloud consultants, cloud service providers, and cloud. Secure use of cloud computing in the finance sector, european union agency for network and information security, december 7, 2015. Rationale enterprises are always subject to continuous change driven by fluctuating market demands and evolving business objectives. Unlike traditional onpremises computing, which typically features. Use your apple id or create a new account to start using apple services. Cloud computing pdf notes cc notes pdf smartzworld.
Notes on cloud computing principles thomas sandholm1,2 and dongman lee2 correspondence. Cloud computing and grid computing 360degree compared 2. Future adoption trends of public and private solutions in fs source. Cloud computing is going to reshape business in europe and worldwide. The financial aspects were divided into revenue model and related pricing mechanisms and cost structure and related cost accounting mechanisms according to business model ontology. Cloud computing nist definition cloud computing is a model for enabling convenient, ondemand network access to a shared pool of configurable computing resources e. Nov 24, 2011 by federico etro cloud computing allows firms to rent computing power and storage from cloud computing providers, and to pay on demand. Please note that differences in writing stye, spelling or referencing style may occur as a result. Basic roots of cloud computing information technology essay. Financial aspects of cloud computing business models.
Some say because the computing happens out there in the clouds. Cloud computing is receiving a great deal of attention, both in publications and among. The bank of 2030 will look very different from today. Computer clusters using commodity processors, network interconnects, and operating systems. The outlook for the year 2011, despite the uncertain global economy, is positive, with increasing cognizant 2020 insights 2 cloud computings full gamut present day cloud computing. The future of cloud computing for banking industry meshal alabdulwahab cloud computing, being a need of today has become more and more popular because of the fact that it deploys groups of remote servers and those networks which allow centralized storage and online access to computers, laptops, and other such devices. Cloud computing governance and compliance is critically important for a key reason. Imagine picking up your smartphone and downloading a. The resources can be used without interaction with cloud service provider. In the latter case, the infrastructure is dedicated to the company and accessible via secure vpntype networks. As business people, we use cloud computing applications like salesforce for crms, ms office 365 for productivity, and box for file sharing. This course provides an introduction into the technologies behind cloud computing. Cloud computing very easily scales resources without the requirement of any intervention to make sure the duties are performed without any glitches.
A combination of lectures and hands on programming assignments expose the student to the leading cloud computing paradigms and programming interfaces e. Cloud computing gets its name as a metaphor for the internet. Dongarra, distributed and cloud computing from parallel processing to the internet of things, morgan kaufmann, elsevier, 2012. The purpose of the study was to explore financial aspects of cloud computing business models from information technology it services providers perspective. The financial crisis has led to a crisis of trust for the financial sector. There are still compliance issues to be mindful of with the cloud. In creating this report we analysed input from a number of different sources to better understand the usage of cloud services in the finance sector. Putty the windows pc environment does not yet support the ssh command and consequently cloud vm connections typically use the putty application. Cloud computing in the financial sector 1 cloud computing refers to the use of computing resources over a network such as the internet in a manner that scales automatically with demand and allows customers to pay based on their usage. A model for enabling ubiquitous, convenient, ondemand network access to a shared pool of configurable computing resources e. Based on the analysis we provide recommendations to financial institutions, regulators and cloud service providers about what we believe should be done to support secure adoption of cloud services in the finance sector.1181 1422 531 484 911 330 562 55 1359 554 666 1226 1520 853 1376 280 800 952 385 334 1419 1034 1122 1561 1103 302 26 432 1049 232 138 1435 88 1096