Types of Cloud

Infrastructure Needed
for BFSI to have
Continuous Operations

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 Introduction
The banking, financial services, and insurance
(BFSI) sector rely heavily on technology to conduct
day-to-day operations.

These operations include processing transactions,

managing customer data, and analyzing financial
data. To ensure continuous operations, BFSI
organizations need to have a robust and reliable
cloud infrastructure in place.
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 Types of Cloud Infrastructure for
Continuous Operations.
BFSI organizations can use several
types of cloud infrastructure to
achieve continuous operations.
These include:

Public Cloud
Private Cloud
Hybrid Cloud
Multi-cloud

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 How Cloud Computing is Used in Banks
Cloud storage
solutions
Cloud storage solutions offer
a cost-effective and scalable
way for banks to store this
data, allowing them to
increase storage capacity as
needed easily.
Additionally, with cloud
storage, data is stored in a
centralized location, making it
more secure and easier to
manage.
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Agile and adaptive
Cloud-based analytics
cloud computing
Cloud-based applications, Banks use cloud-based analytics
such as customer relationship to gain insights into customer
management (CRM) and behavior, transactions, and
enterprise resource planning other data.
(ERP) systems, allow banks to
access and use these This information can be used to
applications without improve marketing efforts,
maintaining them on their detect fraud, and identify
servers. potential risks.
This reduces the need for
expensive hardware and Additionally, with cloud-based
software licenses and will analytics, banks can access
enable banks to scale the real-time data and insights,
number of users accessing the allowing them to make more
applications easily. informed decisions.
How Cloud Computing is Used in Banks - Contd
To improve the
customer experience
Banks are using cloud-based
mobile banking and online
banking solutions to allow
customers to access their
accounts from anywhere at
any time.
Additionally, banks are using
cloud-based chatbots and
virtual assistants to provide
customers with 24/7 support
and assistance.
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To improve security
Cloud-based security
solutions, such as firewalls
and intrusion detection
systems, can be used to
protect banks’ networks and
data.
Additionally, banks can take
advantage of the latest
security technologies and
best practices with cloud
computing without investing
in expensive hardware and
software.
Summary
Cloud computing is being used
by banks in a variety of ways to
improve operations, reduce
costs, and increase efficiency.
By leveraging the scalability
and flexibility of cloud
computing, banks can serve
their customers better, reduce
risks, and stay competitive in
the ever-changing banking
industry.
 Challenges Faced by the Banking Industry Due to
Cloud Computing
01 Security
Banking and payment sector handle sensitive financial
information and must ensure that this information is
protected from cyber threats. Cloud providers must
meet strict security regulations, and banks must trust
that the cloud provider can adequately protect their
data

Compliance
02
Banks must comply with various regulations such as
the Gramm-Leach-Bliley Act and the Dodd-Frank Wall
Street Reform and Consumer Protection Act. These
regulations can be difficult to navigate and comply with
when using cloud services.

03 Integration
Banks often have legacy systems and infrastructure
that can be difficult to integrate with cloud services.
This can be a significant challenge for banks looking to
move to the cloud.

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 Challenges Faced by the Banking Industry Due to
Cloud Computing -Contd..
01 Reliability
Banks must ensure that their systems and services are
always available to customers. Cloud providers must
provide a high level of service availability to meet the
needs of banks.

Cost
While cloud computing can offer cost savings, it can
02 also be expensive, depending on the services and
providers used. Banks must carefully evaluate the cost
and benefits of cloud computing to ensure that it is the
right fit for their organization.

03 Data sovereignty, data privacy, and

data residency issues
Banks need to ensure that their data is stored in a
compliant location and also should be in control of their
data.

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 Conclusion
BFSI organizations must have robust and
reliable cloud solutions to ensure continuous
operations.

Several types of cloud infrastructure can be

used, including public, private, hybrid, and multi-
cloud.

Organizations must also have a disaster

recovery plan and ensure compliance with
various regulations.

By having a well-planned and executed cloud

infrastructure, BFSI organizations can ensure
their operations remain uninterrupted and their
customers and partners can rely on them.

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