Paradigm shift towards cloud computing for Banking sector

Cloud computing is one of the buzzwords of recent time. Cloud computing can be defined as a new style of computing in which dynamically scalable and often virtualized resources are provided as a service over the Internet. Unfortunately, though the Banking sector which works as a financial intermediary and one of the major industries for monetary activities is still deprived of the advantages of cloud. The major reason behind this is the lack of confidentiality and security. As a solution, we are proposing private cloud architecture for banking sector. So their confidentiality will be maintained alongside their data will be safe and sound. We are proposing a simple yet efficient load allocation algorithm to match the homogeneous nature of the banking tasks. We are also proposing a modular banking system. This solution is particularly helpful for developing countries, rural and remote places where setting banking infrastructure is not possible or feasible.