Cloud Banking
Banking infrastructure and services hosted on cloud platforms.
Detailed Description
Cloud Banking
What is cloud banking?
Cloud banking refers to the delivery of banking services through cloud computing technology, allowing banks to store and process data over the internet.
What are the key features of cloud banking?
Key features include scalability, cost efficiency, data accessibility, enhanced security, and integration capabilities.
What are the benefits of adopting cloud banking?
Benefits include improved customer experience, innovation and agility, operational resilience, data analytics, and environmental sustainability.
What challenges do banks face with cloud banking?
Challenges include regulatory compliance, data security risks, vendor lock-in, integration complexity, and performance reliability.
How does cloud banking compare to traditional banking?
Cloud banking emphasizes digital-first approaches and remote accessibility, contrasting with traditional banking's reliance on physical branches and on-premises systems.