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Cloud Computing for Financial Institutions

Cloud Computing for Financial Institutions

Abstract
Ever changing IT world has resulted into plethora of alternate delivery models that have enabled business for organizations. Cloud Computing, as touted by many, is not just an alternative delivery model or alternate way in which enterprises will buy IT services. It is a complete paradigm shift from the way IT is perceived by enterprises as well as service providers. The three major changes that Cloud Computing brings are around Rapid / Near Zero Implementation Timelines, Usage based granular payment services and massive scalability.

Excerpts from the Paper
Cloud  services have  challenged the traditional nature of Financial Institutions. Touted as one of the most important technology  shifts in  recent times,  cloud  services  claim to provide  solutions for a majority of  IT requirements ranging from e-mail and Web hosting to fully managed applications as well as vast on-demand computing resources. Cloud computing offers FIs the capability to create a highly mobile and virtual structure and provides flexibility to scale up/ down based on demand.

 

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