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Informative Article | Information Technology | India | Volume 11 Issue 6, June 2022 | Popularity: 4.8 / 10
The Future of Banking: Cloud - Native Banking Solutions
Goutham Sabbani
Abstract: A significant investment bank worldwide, JP Morgan reported a 30% increase in transaction processing speed and reduced operational costs by 25% by integrating cloud - native banking solutions. This shows the potential of cloud - native solutions in the banking sector. Several financial institutions have adopted cloud - based technology over the past few years, increasing user experience, scalability, and security. This paper will discuss cloud - native banking solutions, focusing on their impact on operational efficiency and customer satisfaction [4]. Key components such as microservices, API Integration, and containerization will be examined to understand how they will contribute to a more agile and responsive bank environment. The discussion will also cover the barriers to integrating these technologies with regulatory compliance and data security concerts. This paper will also touch upon the future trends in cloud - native banking, such as the implementation of Artificial Intelligence and machine learning, to predict how advancements will shape a generation of banking services.
Keywords: Cloud - Native Banking Solutions, Microservices, API Integration, Containerization, Operational Efficiency, Customer Satisfaction
Edition: Volume 11 Issue 6, June 2022
Pages: 2020 - 2023
DOI: https://www.doi.org/10.21275/SR24628110213
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