Major assignment report and video presentation

In today’s world it acts as a medium to transfer money from one place to another. Mainframe computers are the type of computers that are generally large in size which is used to process mass amount of data like calculating census, transaction, business statistics and many more. It is generally used by large organisations. Providing of demand hosted resources everything from computer resources to data is what cloud computing is called. It facilitates companies with computer resources such as virtual machine, storage or an application as a utility. Bank, mainframe computer and cloud computing is interrelated with each other in many ways. To discuss about this let us further discuss on the following headings which are explained in detail as follows:

Core business services offered by a bankBank provides many types of services to its customer and makes sure the services they provide satisfies customer and are always trying hard to make their service better. And of all the services provided by bank, core business service is one. Some of the core business services offered by bank area. Taking Deposits: Bank takes money or any other assets from its customer. For the customer to deposit money on their account, first they should have saving account, current account or any other type of account that allows the money to be deposited or withdrawn from the account. If you don’t have any of these accounts on the bank, then you can’t make deposit or withdraw. b. Making Loans: Bank is able to make loans to individual or businesses by utilising the funds of its depositors. The borrower who borrows money from the bank pays some amount of interest to the bank. The bank also pays the depositors some little amount of interest as a return on their funds. c. Providing Services: Besides taking deposits from depositors and making loans to borrower bank also provides some other services such as remittance services, insurance services and so on.

Bank’s needs for ICT workload typesa. Banks use ICT batch workload: Batch workloads are bound to work at the background. A batch workload produce a large amount of data that includes the data obtained from the cell phone or the outcomes of months of online transaction. b. Banks use ICT transactional workload: Transactional workloads are the automation of business process such as billing, order processing and many more.

Benefits of using cloud technologies in banking sector: Traditionally bank use to work in a complex way. All the works from making entries to putting it in a ledger were done manually and the bank workers had a great pressure on them. But now bank works in a different way. Before bankers used to have all the controls on customers account but now customer has the controlling hand for their own account.

The new business model has changed the way of how bank used to work and it is possible due to cloud technologies. Cloud computing has become a platform for advancing banking operations while conveying the inventive services to its client. Numerous banks are embracing cloud computing for their development. Use of cloud technologies has a lot of benefits such as cost reduction, green IT, scalability, mobility, desktops and devices, infrastructure computer, managed backup and many more. Use of cloud computing, helps in cost reduction as cloud is accessible on demand, there is no need for extra investment on hardware and software.

Cloud computing is a virtual technology meaning there is no energy consumption and carbon footprints hence bank can reduce the energy consumption, carbon impressions and less idle time with the use of cloud computing. Banks can also sort out the issues related to security and privacy of data by creating hybrid cloud where the important data are to be kept on private cloud and others in public cloud. Banks can take the advantage of desktop and devices by setting private cloud in the system and having the chances of accessing data according to their needs.