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Infosys - Reach for the clouds

Infosys - Reach for the clouds

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Published by Infosys
Infosys Finacle thought paper on cloud computing for banks
Infosys Finacle thought paper on cloud computing for banks

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Published by: Infosys on Jun 03, 2013
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06/03/2013

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Reach for the clouds
Thought Paper 
 
Universal Banking Solution | Systems Integration | Consulting | Business Process Outsourcing
 
 
Reach for the clouds
Cloud computing, the latest buzzword intechnology circles, refers to the provisioningand usage of hardware and software over theInternet, using Web technologies. This simplebusiness model allows enterprises to avail of arange of IT services, over the Internet, as andwhen required on a
pay-per-use
basis, without
owning
them.Banks have accumulated a huge amount of data over the years and are heavily dependent
Cloud service models
Software as a Service (SaaS): Cloud serviceproviders have the business software installedat their location. Their clients can access itover a network and use it via a web browser.Related activities like software upgrades, databackup etc. can be handled at the provider 
slocation with the option of discontinuingthe arrangement at the client
s behest.Examples: Enterprise Resource Planning andHuman Resource Management
Platform as a Service (PaaS): Service providersprovide an environment to clients to develop,run, test, deploy and store their software.The platform could include an operatingsystem and other software development
02
Thought Paper 
on both hardware and software. For instance,they require core banking, wealth management,e-banking and other software solutions tocapture information, and hardware in the formof huge repositories, databases and serversetc. to store the same. Cloud computing offersthese services so that banks can operatewithout investing in software development andhardware maintenance.tools, an execution environment like a VirtualMachine (VM) to run and test their newor existing software, and web servers anddatabases enabling deployment and storage.
Infrastructure as a Service (IaaS) or Hardwareas a Service: Service providers extendhardware resources and support, i.e., physicalequipment like storage devices, serversand networking components. They install,house, run and maintain the hardware so
that clients can directly use it and thereby
save on capital investments and maintenancecosts. This model also enables demand-
based usage.
 
 
Cloud deployment models
Public cloud: The service provider owns andmaintains the infrastructure and charges thegeneral public for these services. This is ascalable and cost effective model.
Private cloud: The infrastructure is dedicatedto a single client for private use. It may bedelivered over an On-site Private Cloud -managed and implemented at the client
spremises or an Outsourced Private Cloud -outsourced to the service provider, who also
maintains it. In this model, data is very secure.
Community cloud: This is a cost-effectivemodel wherein several companies with similar objectives and requirements come together to share cloud resources, maintainedeither by the companies themselves or theservice provider.Hybrid cloud: Here, the cloud infrastructure is acombination of two or more clouds (public,
private or community), with each of them
existing independently as separate entities,while collaborating to provide optimumservices to the client. This combines thepublic cloud
s advantages of scalability andlow cost with data security.
Cloud implementation strategies for banks
The
BIG
decision: Banks need to exercisecaution before moving to the cloud model byfirst implementing it on a smaller scale. Theyshould proceed with the cloud approach only if a thorough impact analysis yields positiveresults, else look for alternative models.
Transition strategy: In order to ensure asmooth transition to the cloud, banks shouldchart out a transition strategy from both thetechnology and staffing perspective.
Hiring the right people: Cloud computingbeing relatively new, there is a dearth of qualified personnel with implementationexperience. Hiring competent professionals,who adopt appropriate strategies in tunewith the bank
s requirements, will enablesuccessful transition.
Choosing the right cloud vendors: The rightvendor recommends the models most suitedto the bank
s needs and provides relevantinfrastructure. The bank should consider costeffectiveness, data security, and scalabilitywhile making a choice and monitor vendor activity to ensure accuracy in billing.
Choosing the right cloud model: There are
pros and cons to each model. The choice
of the right model should be based on thebank
s requirements and have the rightbalance of economy, security, ease of implementation etc. Banks may adopt theprivate cloud model to start with and moveon to hybrid clouds as they gain confidence.
Migration planning: After zeroing in on thevendor and the cloud model, the next crucial
step is to properly migrate the data from
existing systems on to the cloud system. This isa very critical task as the slightest glitch canlead to exposure of sensitive client data and jeopardize the entire process.
Thought Paper 
03

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