Cloud Computing

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1. Cloud Computing is an on-demand delivery of compute, storage, applications, and other IT infrastructure with metered payment based on usage. Banks can scale and employ resources as needed and pay for what is used without large upfront capital investments. Thus, payments as per use is the key and basic feature of cloud computing. The fundamental difference between CC and traditional IT is that in the cloud model, banks pay only for the resources consumed instead of investing heavily on data centers and servers before using them.


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2. The phrase "Cloud Computing" originated in a collaboration project between IBM and Google.


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3. Software as a Service (SaaS), Platform as a Service (PaaS) and Infrastructure as a Service (IaaS) are three broad delivery models or service models.


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4. Resource Pooling is one of the essential features of cloud computing. Resource pooling means that the cloud service provides pool the resources such as applications, storage, bandwidth, virtual machines etc. to service many banks using a multi-tenant model.


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5. Intel itself is not a could service provider. However, Intel powers cloud services with compatible processors, networking components, and solid-state drives, along with its rich portfolio of enabling technologies and solutions.


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6. OpenStack is an open source platform for creating and maintaining a cloud Infrastructure as a Service (IaaS).


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7. Hybrid Cloud consists of a combination of both private cloud and public cloud features.


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8. Cloud Bursting is a model in which application running in a private cloud bursts/scales automatically into a public/community cloud based on the scalability needs.


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9. Cloud Computing applications are accessed by common Internet protocols and networking standards.


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10. Indian Bank Community Cloud (IBCC) is a community cloud offering CBS, e-mail, Mobile Banking, eKYC and e-learning, etc. IBCC is set up by IDRBT, the first community cloud for banking industry in the world and is currently being managed by its subsidiary IFTAS.


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