Banking on the Cloud: Insights into Security and Smooth Operations

Abstract

Cloud computing facilitates the online provisioning of IT resources, and banks are progressively adopting it to enhance operational efficiency. Despite its usefulness, combining cloud services is not without its difficulties. This study examines the pros and cons of using cloud services in banking, focusing on data security, infrastructure stability, and ongoing business functions. For the purpose of this study, we interviewed a number of leaders in the field, such as officials from a major cloud provider and an Omani bank. The importance of addressing environmental considerations, personnel training, data privacy, security, and system integration was highlighted through key insights. It was concluded that, in order to make a smooth shift to the cloud, financial institution employees must have a thorough understanding of its features. The findings of this research add to the ongoing discussion about banking’s embrace of the cloud and provide useful pointers for working with the cloud.

Keywords

• cloud computing
• banking system
• data safety
• privacy and security in cloud
• system integration