Banking and the cloud: should banks adopt cloud computing solutions?

Ever since the inception of cloud-computing solutions, several sectors, including banks and Fintech, are slowly migrating to it. With numerous benefits, the cloud is turning out to be the ultimate storage option for your data. Even for personal storage, platforms, such as Google Drive or Dropbox are leading the race.

Migrating from traditional data centers to the cloud might sound daunting but the endless benefits makes it an option to consider.

What are cloud computing technologies?

In layman’s term, cloud is a form of storage which allows users to store data on the internet.

Cloud computing is the delivery of computing services over the internet; services like servers, software, networking, and analytics.

The three major services classified under cloud computing solutions are SaaS, IaaS and PaaS

  • SaaS (Software as a service): Delivering software applications using the internet on a subscription basis
  • IaaS (Infrastructure as a service): Using IT infrastructure, data storage, operating systems with IP connectivity
  • PaaS (Platform as a service): On-demand environment for developing, delivering, and managing applications.

The evolution of cloud computing has enabled several industries to create a platform that is customer-centric with great security and high efficiency.

This blog was originally published in Big Data Made Simple. You can read the original article here.

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