application of cloud computing in financial industry

8/8/2019 Application of cloud computing in financial industry

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Application of CLOUD COMPUTING

in FINANCIAL INDUSTRY

TEAM

Bhavik Dave

Manan Chande

Nikhil Sonawane

Sagar Patil

FACULTY

Prof. Apurva Mankad

Into to E Biz



AGENDA

Cloud Computing

Cloud computing Consideration Factors

Present Scenario of Cloud Computing in Financial Industry

Case: Bajaj Auto Finance ltd.

Cloud computing Concerns with regards to Financial Industry.



REFRENCES

Financial Firms Fear Their Data, AnalyticsSystems Can't Handle Rising Data Volumes



Cloud Computing estimate

Merrill Lynch research note:

The Cloud Wars: $100+ billion at stake (07 May 2008)

The analysts write that by 2011 the volume of cloud

computing market opportunity would amount to $160bn.

Including $95bn in business and productivity apps

(email, office, CRM, etc.) and $65bn in online advertising



Present Application of Cloud Computing in Financial Industry

Nasdaq's OMXExchange, uses cloud computing systems, but onlyinside the company's firewall and only to access historical market data.

Exchange IT officials aren't yet ready to trust "the cloud" with

transactional data.

D

eutsche Bank uses Cloud Computing for testing and developmentfunctions, all data is protected by the company's strongest security

measures. For example, all data that passes through the cloud is

encrypted and any data at rest is masked.

Japanese Sugamo Shinkin Bank and Taiyo Life Insurance have

encouraged Cloud Computing measures.



CASE: Bajaj Auto Finance Ltd.

Launched in 1987.

Initially financed 2 wheeler loans.

Expanded the portfolio to include consumer durables and IT products.

Leveraging on this strategy they entered into construction equipment

financing.

The challenge

Network of more than 50 branches and the growing Rs.600 crore

organization made it difficult to meet the requirements of its growing

customers.

Additional lines of business were beginning to take a toll on company's

CRM

A pressing need to identify and launch new platforms.



CASE continued

SOLUTION

Cloud computing based CRM applications.

Used it on a trial basis for 4 months.

Overcame the managements apprehensions on security and

implemented it full time.

RESULTS

Improved flow of approval between operations centers and the dealer

network, improving general staff productivity by about 50 percent.

Cut the loan time by 4 minutes.

Rise in transactions from 1500 per day to 8500 per day.



REFRENCES

www.salesforce.com

www.cio.in

http://banktech.com

http://www.techworld.com.au



THANK YOU

application of cloud computing in financial industry

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