Hide Notes 

Slide 1: Cloud Computing for Banking Industry: Benefits and Challenges Faith Shimba School of Computing, Dublin Institute of Technology, Dublin 8, Ireland.
Slide 2: Overview • Background • Benefits of Cloud Computing • Challenges of Adopting Cloud Computing • What Next: State-of- the-Art Analysis • Conclusion
Slide 3: Background: Banking Industry Made up of financial institutions. – Offers financial services such as: Account operating, Mortgages, Insurance services, Loans
Slide 4: Background : Cloud Computing The term cloud computing is fairly new (Vaquero, Rodero-Merino et al. 2008).  Its concepts are not new. It borrows terms and concepts from other computing paradigms.
Slide 5: Background : Cloud Computing Delivery Models • Infrastructure -as-a-Service(IaaS):  offers dedicated resource to single tenant  does not allow sharing of resources  Offers resource with rented functionality  Enables development and deployment over the Internet • Platform-as-a-Service(PaaS): • Software-as-a-Service(SaaS):  Allows outsourcing  Access to service is remotely
Slide 6: Background : Cloud Computing Deployment Models • Public cloud:  Administration of resources by third parties • Private cloud:  No sharing of resources  Offers more control to organisation • Community cloud: • Hybrid cloud:  Sharing by multiple organisation  Combines private and public cloud for various portions
Slide 7: Benefits of Cloud Computing • Low-cost :  No need to purchase high powered PCs. No need to buy IT infrastructure Fewer maintenance costs
Slide 8: Benefits of Cloud Computing • Improves performance Enables collaboration Enables knowledge sharing Increased computing power Computing anywhere
Slide 9: Challenges • Non-technical Economic Legal and Ethical issues Compliance issue Risk management
Slide 10: Challenges • Technical Forensic and security Business continuity and disaster recovery Portability and interoperability
Slide 11: What next: State-of-the-art analysis • Industry  Number of players e.g. Amazon, Microsoft, IBM  Lack of interoperability between applications • Academia  Few research e.g. OpenNebula , Eucalyptus  Focus on capabilities, service levels
Slide 12: Conclusion • Background • Benefits of Cloud Computing • Challenges of Adopting Cloud Computing • What Next: State of the Art Analysis
Slide 13: Conclusion • There is need for both the industry and academia to collaborate in addressing the challenges facing cloud computing adoption
Slide 14: Thank You!!