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Reach for the clouds




Thought Paper




www.infosys.com/finacle
Universal Banking Solution | Systems Integration | Consulting | Business Process Outsourcing
Reach for the clouds
             Cloud computing, the latest buzzword in              on both hardware and software. For instance,
             technology circles, refers to the provisioning       they require core banking, wealth management,
             and usage of hardware and software over the          e-banking and other software solutions to
             Internet, using Web technologies. This simple        capture information, and hardware in the form
             business model allows enterprises to avail of a      of huge repositories, databases and servers
             range of IT services, over the Internet, as and      etc. to store the same. Cloud computing offers
             when required on a ‘pay-per-use’ basis, without      these services so that banks can operate
             ‘owning’ them.                                       without investing in software development and
                                                                  hardware maintenance.
             Banks have accumulated a huge amount of
             data over the years and are heavily dependent




             Cloud service models
             •	 Software as a Service (SaaS): Cloud service         tools, an execution environment like a Virtual
                providers have the business software installed      Machine (VM) to run and test their new
                at their location. Their clients can access it      or existing software, and web servers and
                over a network and use it via a web browser.        databases enabling deployment and storage.
                Related activities like software upgrades, data
                                                                  •	 Infrastructure as a Service (IaaS) or Hardware
                backup etc. can be handled at the provider’s
                                                                     as a Service: Service providers extend
                location with the option of discontinuing
                                                                     hardware resources and support, i.e., physical
                the arrangement at the client’s behest.
                                                                     equipment like storage devices, servers
                Examples: Enterprise Resource Planning and
                                                                     and networking components. They install,
                Human Resource Management
                                                                     house, run and maintain the hardware so
             •	 Platform as a Service (PaaS): Service providers      that clients can directly use it and thereby
                provide an environment to clients to develop,        save on capital investments and maintenance
                run, test, deploy and store their software.          costs. This model also enables demand-
                The platform could include an operating              based usage.
                system and other software development




02   Thought Paper
Cloud deployment models
•	 Public cloud: The service provider owns and             objectives and requirements come together
   maintains the infrastructure and charges the            to share cloud resources, maintained
   general public for these services. This is a            either by the companies themselves or the
   scalable and cost effective model.                      service provider.
•	 Private cloud: The infrastructure is dedicated      	   Hybrid cloud: Here, the cloud infrastructure is
   to a single client for private use. It may be           a combination of two or more clouds (public,
   delivered over an On-site Private Cloud –               private or community), with each of them
   managed and implemented at the client’s                 existing independently as separate entities,
   premises or an Outsourced Private Cloud –               while collaborating to provide optimum
   outsourced to the service provider, who also            services to the client. This combines the
   maintains it. In this model, data is very secure.       public cloud’s advantages of scalability and
•	 Community cloud: This is a cost-effective               low cost with data security.
   model wherein several companies with similar




Cloud implementation strategies for banks
•	 The “BIG” decision: Banks need to exercise              infrastructure. The bank should consider cost
   caution before moving to the cloud model by             effectiveness, data security, and scalability
   first implementing it on a smaller scale. They          while making a choice and monitor vendor
   should proceed with the cloud approach only             activity to ensure accuracy in billing.
   if a thorough impact analysis yields positive
                                                       •	 Choosing the right cloud model: There are
   results, else look for alternative models.
                                                          pros and cons to each model. The choice
•	 Transition strategy: In order to ensure a              of the right model should be based on the
   smooth transition to the cloud, banks should           bank’s requirements and have the right
   chart out a transition strategy from both the          balance of economy, security, ease of
   technology and staffing perspective.                   implementation etc. Banks may adopt the
                                                          private cloud model to start with and move
•	 Hiring the right people: Cloud computing
                                                          on to hybrid clouds as they gain confidence.
   being relatively new, there is a dearth of
   qualified personnel with implementation             •	 Migration planning: After zeroing in on the
   experience. Hiring competent professionals,            vendor and the cloud model, the next crucial
   who adopt appropriate strategies in tune               step is to properly migrate the data from
   with the bank’s requirements, will enable              existing systems on to the cloud system. This
   successful transition.                                 is a very critical task as the slightest glitch
                                                          can lead to exposure of sensitive client data
•	 Choosing the right cloud vendors: The right
                                                          and jeopardize the entire process.
   vendor recommends the models most suited
   to the bank’s needs and provides relevant




                                                                                                     Thought Paper   03
Benefits of cloud model
             •	 Cost saving: Banks save on costs of software      •	 Only banking, nothing else: With the IT
                and hardware installation and maintenance.           functions outsourced to cloud vendors, banks
                Also, they can consume and pay for the               would be able to concentrate on their core
                services as and when needed, thereby                 business and not have to waste energies
                minimizing the idle time for systems while           on extraneous IT-related activities, such as
                providing greater mobility.                          ramping up peak time server capacity.

             •	 Differentiation: In a highly competitive          •	 Go green: The decrease in hardware results
                environment, a cloud model could serve as a          in a smaller carbon footprint, contributing
                differentiating feature and offer first movers       towards a greener environment.
                significant advantage.




             Risks of cloud model
             •	 Data exposure: Since all information resides      •	 Vendor issues: With sensitive data being
                in the clouds controlled by the vendor,              stored in vendor-operated clouds, close and
                customers might perceive cloud computing             constant vendor monitoring is imperative to
                as risky or a breach of confidence.                  ensure security and accuracy. Before forging
                                                                     relationships, banks must think about how
             •	 Data leakage: In cloud computing data is
                                                                     they will safeguard and migrate data, in
                accessed over the Internet, and is therefore
                                                                     the event of the vendors closing down
                susceptible to hacking.
                                                                     their business.
             •	 Cloud outage: Total dependence on cloud
                computing can grind banking operations to
                a standstill in the face of technical problems.




             Challenges implementing cloud model
             •	 Network problems: Internet connectivity           •	 Staff issues: Extensive training will help the
                and speed form the backbone of this model            staff adapt to this new technology with
                and in turn have a significant impact on the         greater ease.
                bank’s performance.
                                                                  •	 Reliability issues: Cloud computing being
             •	 Replacing existing technology: Replacing             at a nascent stage and plagued by security
                existing infrastructure to accommodate the           concerns, banks are still skeptical about
                cloud model may not seem viable to banks             investing in it. Trust and reliability are key
                in the short term.                                   factors in forming long-term partnerships.




04   Thought Paper
Future of cloud computing in banks
Technology and innovation have always been         banking, stand testimony to this. It is, therefore,
the cornerstones of the banking industry.          a matter of time before cloud computing
Computerization, core banking, online and          transforms the banking sector in a big way.
branchless banking, ATMs, POS, and now mobile




Conclusion
The following are the key considerations in        3.	 Partners and cloud models should be chosen
cloud implementation:                                  in alignment with the bank’s requirements
                                                       to mitigate inherent risks in implementation
1.	 The decision to move to the cloud should be
                                                       and ensure a smooth transition.
    driven by business reasons only.

2.	 should not be seen merely as a cost
   It
   cutting technique but rather, as a technology
   of the future with huge long-term benefits.




                                                                           Rajesh Kumar Sahu
                                                                    Senior Associate Consultant, Infosys




                                                                                                   Thought Paper   05
About Finacle
Finacle from Infosys partners with banks to transform process, product
and customer experience, arming them with ‘accelerated innovation’
that is key to building tomorrow’s bank.

For more information, contact Finacleweb@infosys.com                                                                                                          www.infosys.com/finacle
© 2012 Infosys Limited, Bangalore, India, Infosys believes the information in this publication is accurate as of its publication date; such information is subject to change without notice. Infosys
acknowledges the proprietary rights of the trademarks and product names of other companies mentioned in this document.

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Finacle - Cloud Computing in Banking | Cloud Implementation & Solutions

  • 1. Reach for the clouds Thought Paper www.infosys.com/finacle Universal Banking Solution | Systems Integration | Consulting | Business Process Outsourcing
  • 2. Reach for the clouds Cloud computing, the latest buzzword in on both hardware and software. For instance, technology circles, refers to the provisioning they require core banking, wealth management, and usage of hardware and software over the e-banking and other software solutions to Internet, using Web technologies. This simple capture information, and hardware in the form business model allows enterprises to avail of a of huge repositories, databases and servers range of IT services, over the Internet, as and etc. to store the same. Cloud computing offers when required on a ‘pay-per-use’ basis, without these services so that banks can operate ‘owning’ them. without investing in software development and hardware maintenance. Banks have accumulated a huge amount of data over the years and are heavily dependent Cloud service models • Software as a Service (SaaS): Cloud service tools, an execution environment like a Virtual providers have the business software installed Machine (VM) to run and test their new at their location. Their clients can access it or existing software, and web servers and over a network and use it via a web browser. databases enabling deployment and storage. Related activities like software upgrades, data • Infrastructure as a Service (IaaS) or Hardware backup etc. can be handled at the provider’s as a Service: Service providers extend location with the option of discontinuing hardware resources and support, i.e., physical the arrangement at the client’s behest. equipment like storage devices, servers Examples: Enterprise Resource Planning and and networking components. They install, Human Resource Management house, run and maintain the hardware so • Platform as a Service (PaaS): Service providers that clients can directly use it and thereby provide an environment to clients to develop, save on capital investments and maintenance run, test, deploy and store their software. costs. This model also enables demand- The platform could include an operating based usage. system and other software development 02 Thought Paper
  • 3. Cloud deployment models • Public cloud: The service provider owns and objectives and requirements come together maintains the infrastructure and charges the to share cloud resources, maintained general public for these services. This is a either by the companies themselves or the scalable and cost effective model. service provider. • Private cloud: The infrastructure is dedicated Hybrid cloud: Here, the cloud infrastructure is to a single client for private use. It may be a combination of two or more clouds (public, delivered over an On-site Private Cloud – private or community), with each of them managed and implemented at the client’s existing independently as separate entities, premises or an Outsourced Private Cloud – while collaborating to provide optimum outsourced to the service provider, who also services to the client. This combines the maintains it. In this model, data is very secure. public cloud’s advantages of scalability and • Community cloud: This is a cost-effective low cost with data security. model wherein several companies with similar Cloud implementation strategies for banks • The “BIG” decision: Banks need to exercise infrastructure. The bank should consider cost caution before moving to the cloud model by effectiveness, data security, and scalability first implementing it on a smaller scale. They while making a choice and monitor vendor should proceed with the cloud approach only activity to ensure accuracy in billing. if a thorough impact analysis yields positive • Choosing the right cloud model: There are results, else look for alternative models. pros and cons to each model. The choice • Transition strategy: In order to ensure a of the right model should be based on the smooth transition to the cloud, banks should bank’s requirements and have the right chart out a transition strategy from both the balance of economy, security, ease of technology and staffing perspective. implementation etc. Banks may adopt the private cloud model to start with and move • Hiring the right people: Cloud computing on to hybrid clouds as they gain confidence. being relatively new, there is a dearth of qualified personnel with implementation • Migration planning: After zeroing in on the experience. Hiring competent professionals, vendor and the cloud model, the next crucial who adopt appropriate strategies in tune step is to properly migrate the data from with the bank’s requirements, will enable existing systems on to the cloud system. This successful transition. is a very critical task as the slightest glitch can lead to exposure of sensitive client data • Choosing the right cloud vendors: The right and jeopardize the entire process. vendor recommends the models most suited to the bank’s needs and provides relevant Thought Paper 03
  • 4. Benefits of cloud model • Cost saving: Banks save on costs of software • Only banking, nothing else: With the IT and hardware installation and maintenance. functions outsourced to cloud vendors, banks Also, they can consume and pay for the would be able to concentrate on their core services as and when needed, thereby business and not have to waste energies minimizing the idle time for systems while on extraneous IT-related activities, such as providing greater mobility. ramping up peak time server capacity. • Differentiation: In a highly competitive • Go green: The decrease in hardware results environment, a cloud model could serve as a in a smaller carbon footprint, contributing differentiating feature and offer first movers towards a greener environment. significant advantage. Risks of cloud model • Data exposure: Since all information resides • Vendor issues: With sensitive data being in the clouds controlled by the vendor, stored in vendor-operated clouds, close and customers might perceive cloud computing constant vendor monitoring is imperative to as risky or a breach of confidence. ensure security and accuracy. Before forging relationships, banks must think about how • Data leakage: In cloud computing data is they will safeguard and migrate data, in accessed over the Internet, and is therefore the event of the vendors closing down susceptible to hacking. their business. • Cloud outage: Total dependence on cloud computing can grind banking operations to a standstill in the face of technical problems. Challenges implementing cloud model • Network problems: Internet connectivity • Staff issues: Extensive training will help the and speed form the backbone of this model staff adapt to this new technology with and in turn have a significant impact on the greater ease. bank’s performance. • Reliability issues: Cloud computing being • Replacing existing technology: Replacing at a nascent stage and plagued by security existing infrastructure to accommodate the concerns, banks are still skeptical about cloud model may not seem viable to banks investing in it. Trust and reliability are key in the short term. factors in forming long-term partnerships. 04 Thought Paper
  • 5. Future of cloud computing in banks Technology and innovation have always been banking, stand testimony to this. It is, therefore, the cornerstones of the banking industry. a matter of time before cloud computing Computerization, core banking, online and transforms the banking sector in a big way. branchless banking, ATMs, POS, and now mobile Conclusion The following are the key considerations in 3. Partners and cloud models should be chosen cloud implementation: in alignment with the bank’s requirements to mitigate inherent risks in implementation 1. The decision to move to the cloud should be and ensure a smooth transition. driven by business reasons only. 2. should not be seen merely as a cost It cutting technique but rather, as a technology of the future with huge long-term benefits. Rajesh Kumar Sahu Senior Associate Consultant, Infosys Thought Paper 05
  • 6. About Finacle Finacle from Infosys partners with banks to transform process, product and customer experience, arming them with ‘accelerated innovation’ that is key to building tomorrow’s bank. For more information, contact Finacleweb@infosys.com www.infosys.com/finacle © 2012 Infosys Limited, Bangalore, India, Infosys believes the information in this publication is accurate as of its publication date; such information is subject to change without notice. Infosys acknowledges the proprietary rights of the trademarks and product names of other companies mentioned in this document.