Secure based Financial Transactions in Banks using Community Cloud

Abstract

Cloud computing is one of the option knowledge for the banking Institutions with its vibrant scalability and handling of virtualized hardware assets as a tune-up through the Internet. It is a first-rate substitute for banking institutions to maneuver their information systems effectively. Banks can take benefit of existing cloud-based applications accessible by service providers and facilitate their own clientele to act upon different financial transactions. This paper is an analysis more specific to the diverse security issues that are associated with relevant to financial dealings made by the authorized customer as well as the internal transactions of the banks. Especially in the Banks where the use of computers are more intensive and there has been a lot of inconsistency with sharing of transactional data between Banking Institutions and their customers. This results in delay of transactional processing’s and also incoherent dealings and other inefficiencies. These issues can be minimized by using the virtualization of the community cloud technology in banking systems on a pay on use basis, now the customer can have the capability to do various types of transactional handing out by having way in to the core banking systems from anywhere.