Application of CLOUD COMPUTING

in FINANCIAL INDUSTRY
Into to E Biz
FACULTY TEAM
Prof. Apurva Mankad • Bhavik Dave
• Manan Chande
• Nikhil Sonawane
• Sagar Patil
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, Analytics

Systems 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 OMX Exchange, uses cloud computing systems, but only

inside 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.

• Deutsche Bank uses Cloud Computing for testing and development

functions, 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