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ITECH1104 Cloud And Enterprise Computing

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ITECH1104 Cloud And Enterprise Computing

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Course Code: ITECH1104
University: Federation University

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Country: Australia

Question:
The purpose of this assignment is to provide you with the opportunity to investigate why and how enterprises from the Banking sector use mainframe and cloud technologies to support their day-to-day operations. You are required to investigate usage of mainframe and cloud technologies by an enterprise (a bank or number of banks) from the Banking sector. Your investigation should be supported by trusted Internet resources containing real life case studies, reports, on-line newspapers, videos, technical/research papers and academic journals. As a starting point it is advised to use FedUni on-line library eResources via “QuickSearch” and “Databases”. In light of the investigation your findings should address the following requirements: 1. Describe core business services offered by a bank; 2. Provide a brief description of security and privacy needs in relation to the bank’s core  business services; 3. Explain the bank’s needs for ICT workload types (batch, transactional and analytics); 4. Describe how banks benefit of using cloud technologies; 5. Explain which cloud services are used in the banking sector and how they support  one or more ICT workload types; 6. Describe why major banks and financial institutions have mainframes at the centre of  their technological strategies; 7. Explain how mainframes support one or more ICT workload types;.
Answer:

Introduction 
Mainframe continues to be most important part of the banking sector. Most of the bank and financial institutes come up with mainframe at the center of the technology strategies (Cleary & Quinn, 2016). Rise of startup, emergence of new technologies like big data and faster network have focused on the fact that distributed computing will replace the old age computing. Mainframes provide a large number of benefits like analytical speed, security, availability and lastly reliability (Laudon & Laudon, 2016). Banks in general deal with most sensitive and vital information. Security is known to be a non-negotiation concern for them. Mainframe comes up with security which is built for grounding them up.
In the coming pages of the report an idea has been provided regarding three core business which is offered by bank. After that bank need for ICT workload type in workload, transactional and analytics has been discussed in details. Various advantages of cloud computing in banking sector have been discussed in details. The last part of the report mainly provides list of reason behind the use of mainframe.
Three core business offered by bank 
The core functions of any bank are investment, corporate and lastly commercial banking. The most basic service offered by bank are taking deposits, making loans and lastly providing service (Oliveira, Thomas & Espadanal, 2014). A bank which fully functions in nature comes up with 15 or more different process. Some of the customers do business with only one of this while other do business with several. Banks can be easily split into customer group and service line. Customer group comprises of corporate, small business and lastly individual while the service line comprises of credit card, mortgage, transfer, and vault services.  
Security and privacy needs in relation to bank business service 
Proper collection of information from different customers is required for carrying out day to day operation. Understanding the potential damage from different privacy loss and key policies and laws (Moro, Cortez & Rita, 2015). These law has been established to make regulation regarding the fact that how various band can collect and share important data of customers. In major region, customer comes up with right which requires to be informed and share consumer data. In major regions, it is seen that customer have the right to be informed about the kind of data to be used for privacy policy communication.
Data security mainly emphasizes on certain measures which needed for protection of customer’s data from any loss and unauthorized use. Some of the most vital methods for data security are encryption, making of data, backs and lastly user authentication (Haimes et al. 2015). With increase of outsourcing to various third-party service providers also highlights on the requirement of data security. Various countries around the globe have given limitation to both storage and access of customer data.
Bank’s need for ICT workloads 
In some of the cases, it is seen that banks require lot of data to be processed and it is provided in similar form. In this particular case it is seen that an individual require data to be collected in sets known as batch and hand it to another system for its processing in one go (Gangwar, Date & Ramaswamy, 2015). As soon as a batch has been prepared, no input from user side is required. The system can work its way through the data which is provided automatically. The benefit of this kind of system is that processing takes place when the system is not used for anything else. Some of the application of batch processing in bank is payroll processing, Bank statement printing and lastly updating of stock database.
Bank can easily make of ATM (Automatic Teller Machine) for maintaining the customer customers by dealing with transactions. It is mainly generated as outcome of both withdrawals and deposits (Schlagwein, Thorogood & Willcocks, 2014). Banks also maintains a network of automated teller machine (ATMs). There are many advantages of using ATM-like they can easily keep their operating low due to fact that only fewer employees are needed to work behind the counter side of branches. Customers come up with 24-hour access to account. Customer does not need to carry huge amount of cash as there is large number of ATM are available.
Analytics has helped the banking sector is becoming smarter in managing the various challenges encountered by it. By the help of basic reporting and description of analytics to be important for banks, advanced predictive analytics are now focusing to develop powerful insight resulting in impact on business (Hilbrich, Petrlic & Becker, 2015). Advanced analytics are considered to be helpful for bank as it enables them to not manage the increasing price of compliance. Apart from this it also helps them in the various kinds of risk involved in non-compliance.
Benefits of using Cloud Technologies in banking sector 
Both innovation and its implementation of technology in banking domain has created awareness (Cleary & Quinn, 2016). It also led to creation of awareness in this domain and many banks are moving towards development of various techniques for advancement in technological domain.
Reducing cost: No extra investment is needed for managing the various resources for data transfer (Laudon & Laudon, 2016). Cloud creates a platform easy investment is required in resources by elimination of involved cost along with dedicated hardware and software.
Improves flexibility: For sustaining in the ever-changing market, it should change the technology as per the changes and should create room for the changing demands so that an individual can easily sustain in the market (Oliveira, Thomas & Espadanal, 2014). Cloud provides flexibility to various kinds of services so that individual can easily respond to every changing needs and upcoming changes in the market.
Auto Scalability: On-demand cloud services provide proper scalability of resources as per the given need (Moro, Cortez & Rita, 2015). eNlight cloud is considered to be world’s first auto-scalable smart cloud which makes use of most of efficient ways of providing advantages to customers.
Bank and financial institutes have mainframe in the center 
Mainframes tend to be an important sector of banking. It comes up with large number of benefits like reliability, availability, security and lastly analytical speed.
Reliability: Mainframes comes up with capability of performing in various hardware and software specification (Haimes et al. 2015). It can be stated that they easily perform without any kind of error.
Availability: Banks cannot afford any kind of downtime of system as it creates a large number of problem for customers (Gangwar, Date & Ramaswamy, 2015). If any how a customer is unable to withdraw money or check the balance, then that individual may leave the bank.
Security: Banks in general deal with lot of sensitive information. So, bank cannot ignore their security (Schlagwein, Thorogood & Willcocks, 2014). Mainframe comes with security which is build up from the ground. With the help of cryptographic hardware acceleration and secure OS (Operating System) mainframes can easily protect both the internal data and user.
Conclusion 
From the above discussion, it can be easier that this report is all about use of mainframe and cloud computing by banks. The above page’s focus on the three important services offered by bank. A proper description has been provided with respect to security and privacy in relation to banking services. An explanation has been given with respect to need of ICT workload that is batch, transaction and lastly analytics. A list of advantages like cost reduction, enhancing flexibility and auto scalability has been discussed in details. The last section of report mainly deals with use of mainframes in banks.
References 
Cleary, P., & Quinn, M. (2016). Intellectual capital and business performance: An exploratory study of the impact of cloud-based accounting and finance infrastructure. Journal of Intellectual Capital, 17(2), 255-278.
Gangwar, H., Date, H., & Ramaswamy, R. (2015). Understanding determinants of cloud computing adoption using an integrated TAM-TOE model. Journal of Enterprise Information Management, 28(1), 107-130.
Haimes, Y. Y., Horowitz, B. M., Guo, Z., Andrijcic, E., & Bogdanor, J. (2015). Assessing systemic risk to cloud?computing technology as complex interconnected systems of systems. Systems engineering, 18(3), 284-299.
Hilbrich, M., Petrlic, R., & Becker, S. (2015). Towards a secure cloud usage for financial IT. Open Identity Summit 2015.
Laudon, K. C., & Laudon, J. P. (2016). Management information system. Pearson Education India.
Moro, S., Cortez, P., & Rita, P. (2015). Business intelligence in banking: A literature analysis from 2002 to 2013 using text mining and latent Dirichlet allocation. Expert Systems with Applications, 42(3), 1314-1324.
Oliveira, T., Thomas, M., & Espadanal, M. (2014). Assessing the determinants of cloud computing adoption: An analysis of the manufacturing and services sectors. Information & Management, 51(5), 497-510.
Schlagwein, D., Thorogood, A., & Willcocks, L. P. (2014). How Commonwealth Bank of Australia Gained Benefits Using a Standards-Based, Multi-Provider Cloud Model. MIS Quarterly Executive, 13(4).

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