The risk of moving highly confidential banking to the public cloud can be enormous if not properly controlled.
According to the commercial banks engineer, a concern for most banks is network latency (the time it takes to transfer data across the network) issues that might come with cloudbased services. Amazon Web Services, for instance, has a data centre in South Africa, but the data centre in the west of the UK actually has better latency for Nigeria than the one in South Africa.
They usually host their core banking services, which have the data of all their users and accounts, onpremises and prefer to host their mobile banking on the cloud, he said.
A cloud engineer at a commercial bank told Techcabal that most banks have also not moved totally to the cloud because the Central Bank of Nigeria (CBN) has not given the goahead for banks to move all their services to the cloud.
One of them told this publication, One of the reasons most commercial banks had downtimes during the cash crisis was because of the load on their infrastructure, and thats where the cloud comes in. With the cloud, you can autoscale.
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