UGC Approved Journal no 63975(19)

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Published in:

Volume 5 Issue 11
November-2018
eISSN: 2349-5162

UGC and ISSN approved 7.95 impact factor UGC Approved Journal no 63975

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Published Paper ID:
JETIRN006038


Registration ID:
190632

Page Number

158-160

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Title

Transformation Of Retail Banking To Cloud Services

Abstract

Retail banking refers to the consumer-oriented services offered by commercial banks. These services include checking and savings accounts, mortgages and various types of loans and investment services relating to retirement and educational planning. Retail banking encompasses the services offered to consumers by commercial banks. The term "retail" refers to the almost storefront-shopping nature of commercial banking services. Retail banking is a framework that allows commercial banks to offer banking products and services in one place at virtually any of their branch locations. The retail banking aspect turns commercial banks into a kind of "store" (or retailer) where clients are able to purchase multiple banking products. The merits of cloud technology in retail banking have been hotly debated over the last 5 years, creating a huge amount of marketing hype in the process. While some continue to see this as principally vendor noise, what is undeniable is that IaaS, PaaS, and SaaS do form an important part of retail bank IT sourcing strategy. The unfortunate consequence of the years of debate is that attention has been drawn away from the developments in cloud, and the real benefits it delivers to the banks that have successfully adopted it. The use of cloud in retail banking today is widespread. Almost all of the retail banking IT decision makers interviewed for this study reported the use of at least some cloud technology, with only relatively minor differences in take-up across banks of all sizes and in all regions. This broad level of adoption is reflected in the degree of new IT spend accounted for by cloud technology components. Respondents were asked what proportion of their organization’s current new IT infrastructure spend was allocated to IaaS/PaaS versus on-premise infrastructure. They were also asked what proportion of total new application spend (including license, maintenance and services costs) was allocated to SaaS versus traditional packaged, or in-house developed, software.

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"Transformation Of Retail Banking To Cloud Services", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.5, Issue 11, page no.158-160, November-2018, Available :http://www.jetir.org/papers/JETIRN006038.pdf

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2349-5162 | Impact Factor 7.95 Calculate by Google Scholar

An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 7.95 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

Cite This Article

"Transformation Of Retail Banking To Cloud Services", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 11, page no. pp158-160, November-2018, Available at : http://www.jetir.org/papers/JETIRN006038.pdf

Publication Details

Published Paper ID: JETIRN006038
Registration ID: 190632
Published In: Volume 5 | Issue 11 | Year November-2018
DOI (Digital Object Identifier):
Page No: 158-160
Country: Coimbatore, Tamil nadu, India .
Area: Commerce
ISSN Number: 2349-5162
Publisher: IJ Publication


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