Cloud

Data Management and Deployment of Cloud Applications in Financial Institutions and Its Adoption Challenges

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Executive Summary

The Cloud has become a new vehicle for delivering resources such as computing and storage to customers on demand. Rather than being a new technology in itself, the cloud is a new business model wrapped around new technologies such as server Virtualization that take advantage of economies of scale and multi-tenancy to reduce the cost of using information technology resources. From one perspective, cloud computing is nothing new because it uses approaches, concepts, and best practices that have already been established. From another perspective, everything is new because cloud computing changes how the authors invent, develop, deploy, scale, update, maintains, and pay for applications and the infrastructure on which they run.

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