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Binghamton Bank IT Solutions f Overview of the Cloud

Binghamton Bank IT SolutionsImplementing the CloudSaaS TeamEugene Brizo, John Montesano, Jessica Vinokur, Daniel WangIaaS TeamBrian Hum, Chris Lo, Robert Pim, Anna Prigl

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BackgroundCloud computing overviewSoftware-as-a-service (SaaS) overviewBig data utilizationInfrastructure-as-a-service (IaaS) overviewBusiness impact analysis tool overviewTimelineConclusion

Agenda2

Add acronyms for SaaS and IaaS2

Background

Binghamton Bank Corporation, under the head of a new CEO, has a new goal to transform current systems to match business needsBetter understand the future needs of their customers and investorsTrack and identify customer buying patterns and investor needsUpgrade financial applications and underlying infrastructureUnderwent some technological challenges in the past yearFebruary 2014 software upgrade froze the banks systemsJuly 2014 the banks web application went downCIO suggested to move existing applications to the cloudAllow flexibility and scalability to better suit the needs of the companyStay ahead of competition by working with big dataReduce costs, increase efficiency, and create insights to customer and investor data3

Query Time

Scalability

Cost Current StateWith Cloud ComputingOne HourTwenty MinutesLimitedFast, EfficientFixedPay per use

Data Analytics Slow, InflexibleFast, Flexible, Visually AppealingOur Purpose4

Cloud computing is the practice of using remote servers over the Internet to store and access data rather than connecting to a local serversCloud computing has three main services:Infrastructure-as-a-service (IaaS) the provider offers hardware to the user via a virtualized interface.Platform-as-a-service (PaaS) the provider offers hardware plus a computing platform to the user.Software-as-a-service (SaaS) the user is able to access different types of applications from the provider.Cloud Computing Overview5

Cloud Computing: Benefits

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Traditional ITIaaSPaaSSaaS

Managed InternallyManaged by Cloud ProviderCloud Computing Overview7

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SaaS providers host applications which are made available to customers over a network, typically the InternetBinghamton Bank has currently implemented SaaS for two Banking Applications:WeCareMobile Banking ApplicationWith SaaS individuals no longer download and install programs on individual computersAll programs are updated and maintained by the SaaS cloud providerThese programs offered on the cloud are accessible from almost anywhere

Cloud Computing: SaaS8

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Cloud Computing RisksMitigation of Risks: SaaSData Breaches: Cloud service providers host information from customers spread across the worldThis makes them large targets for information hackersCreate long, complex passwords every 60 to 90 daysEncrypt data through the use of keys, digital signatures, and other security applicationsOutages:Reporting outages due to power failures, natural disasters, etc. takes longer due to longer lines of communication between the business and the cloud service providerDevelop a Disaster Recovery/Business Continuity plan, including recovery servicesKeep customers informed throughout the disaster responseprocessNon-compliance:The company must follow all legal and regulatory requirements that apply to its information being stored on the cloud.These requirements include: PCI DSS, GLBA, ISO, etc. Define the services used through the SaaS provider, with any restrictions, regulations or compliance issues that need to be satisfied

Risks & Mitigation of Cloud Computing9

SOX: Sarbanes Oxley ActGLBA: Gramm Leach Bliley ActISO: International Organization for Standardization 9

Leading Customer Relations Management Tool$3,000/MonthPrivate Cloud Offering $4,240/MonthBig Data Analytics Application$2,500/MonthMost Application & Service Offerings to Banking Industry$1,890/Month

Competitive AdvantageCustomersCost Per Office

SaaS Cloud Provider List10

SaaS Cloud Provider Comparison11

YesNoNo, Offers SaaS Extension on PaaSYes, Provides Pre-Built ApplicationsYes, Multiple Preventative Security ProceduresYes, Received TrustE Trusted Cloud Certification & More$4,240 Per Month$2,500 Per Month

Private Cloud OfferingStandalone SaaSSecurity and Disaster-RecoveryPrice Per OfficeSaaS Cloud: Oracle & Workday12

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Implemented two methods of data analytics to test the optimization of analyzing large-scale dataUsing Binghamton Banks customer profiles Method 1: Microsoft ExcelPivot charts were more complicated to calibrate to the exact specifications of a relationshipVisual representations were less cooperative in displaying meaningful trendsMethod 2: Spotfire Data AnalyticsImmediately converted data sets into graphical displays that are easily manipulated and customizedProvided significantly more options for creating relationships between different variables in a data setIncreased speed allowed for a more efficient and accurate method of determining trends and drawing conclusionsSpotfire Data Analysis13

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Data Analysis: Service vs. Age14

Data Analysis: Services vs. Education15

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Total Average Services vs. AgeUsers of later generations tend to use more of Binghamton Banks servicesUtilize SaaS mobile banking applications, appealing to more earlier, more technology-focused generations through increased mobilityApplications should be kept simple and easy to use for sustain current usersTotal Average Services vs. EducationPeople with less education tend to utilize more of the Banks servicesApplications should sustain usability to retain that less educated audienceDevelop more advanced banking applications in the cloud that cater directly to those with more educationMaintain the same level of usability and accessibility

Recommendations from Data Analysis16

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The use of data analytics in the cloud can be enhanced via a big data systemBig data allows for an organization to handle data with velocity, variety and volumeThe use of big data will allow for Binghamton Bank to respond to problems faster while incurring fewer costs The scalability of computing power will allow Binghamton Bank to run processes fasterThe elimination of on-site hardware will allow Binghamton Bank to decrease costsBig data will allow for Binghamton Bank to improve customer relations management and make Binghamton Bank more efficientBig data providers like Hadoop and Palantir offer unique solutions that can help Binghamton Bank to automate some functions

Utilization of Big Data17

Utilization of Big Data18GoodInadequateFailure

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IaaS provides the following infrastructure for companiesHardwareStorageMemory capacityBinghamton Bank has currently implemented IaaS for three Banking ApplicationsEnterprise Content ManagementDevelopment & TestingBackUpWith IaaS, users have the ability to scale how much storage and memory they needCompanies have more control over how much they use based upon how much they needIaaS is also accessible from any location provided there is an internet connectionCloud Computing: IaaS19

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Cloud Computing RisksMitigation of Risks: IaaSData Breaches: Cloud service providers host information from customers spread across the worldThis makes them large targets for information hackersExtend access management services into the IaaS cloud providerEnsure that Binghamton Bank has access to the necessary resources needed to ensure the applications and systems are secure.Outages:Reporting outages due to power failures, natural disasters, etc. takes longer due to longer lines of communication between the business and the cloud service providerDevelop a Disaster Recovery/Business Continuity plan, including recovery servicesPerform periodic backups of sensitive dataNon-compliance:The company must follow all legal and regulatory requirements that apply to its information being stored on the cloud.These requirements include: SOX, GLBA, ISO, etc. Have a team devoted to ensuring the data is under the right encryptions and controls in placeMake a thorough overview of the IaaS Provider of their security measures as well as level of segregations

Risk and Mitigation of Cloud Computing20

Breadth and Integration of Wide Range of Services $70/MonthSupports High Demanding Cloud Applications$428/MonthSuitable Infrastructure for Big Data Analytics $86/MonthGlobal Servers and Granular Control over Infrastructure$74/Month

Competitive AdvantageCustomersCost Per Instance

IaaS Cloud Provider List21

Cloud Provider Comparison22

IBM Cloud Managed ServicesElastic Compute CloudTen Data Centers Across Five Continents Data Centers Across Four ContinentsFull Range of Cloud ServicesMigration of ApplicationsVariety of Services and Monitoring Tools$428 per Month$70 per

IaaS ProviderData SpreadCompetitive AdvantageEstimated PricePer InstanceIaaS Cloud: IBM & Amazon EC223

IBM Offers IBM Cloud Managed ServicesData Spread leads to Binghamton Bank having to track data movements and keep in compliance with international lawsIBM ranked first in Iaas Cloud Providers due to security measures. Also makes sure to keep in compliance with laws

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BIA and Risk Prioritization Tool24

Tool Demonstration25

Utilized the tool to analyze data on hypothetical cloud failures that were provided by Binghamton BankBinghamton Bank provided us with data that described how a certain technology failure would affect the bankFound some key applications that were at risk and that should be treated with cautionDevised a strategy to mitigate the risks associated with moving these applications to the cloudDetected some key failures that would sign