Bizdata Insights Main Logo

BizData Insights

Cloud Computing Benefiting Financial Institutions

cloud computing polygonal wireframe technology concept background
Industry: ICT Sector, Tecnology

Cloud computing technology is gaining traction among banks and non-bank financial institutions (FIs) as it delivers improved operational efficiency, cost savings, scalability, and enhanced security. With cloud-based solutions, financial institutions can reduce capital and operational expenditures, freeing up resources for critical initiatives. The scalability of cloud technology allows institutions to easily adjust computing resources according to their needs, catering to peak demand hours and facilitating the launch of new products or services.

Collaboration and mobility are also enhanced, enabling employees to access data and applications from anywhere with an internet connection. The adoption of cloud computing not only improves teamwork and remote work capabilities but also boosts productivity and efficiency. Addressing concerns about data security, cloud computing provides reassurance by following strict guidelines issued by regulatory authorities. Furthermore, cloud technology revolutionizes business continuity and disaster recovery, ensuring uninterrupted customer services through data replication and storage across multiple locations. Compliance-ready solutions offered by cloud computing enable financial institutions to meet stringent regulatory frameworks and adhere to data privacy regulations

Source for more details:

Related News

eGeneration Wins Cyble’s Cybersecurity Award

May 28, 2024

eGeneration PLC, a leading system integration company known for its commitment to digital security, has been recognized by Cyble, a global leader in digital risk profiling and threat intelligence.

ADN Technologies Brings Microsoft AI Cloud in Bangladesh

May 25, 2024

ADN Technologies and Microsoft Bangladesh recently co-hosted an event featuring a product demonstration, attended by key participants such as the CEO of ADN Technologies, and the country managing director of Microsoft Bangladesh, Bhutan, and Nepal, along with other senior officials.

 

CdNet Receives USTDA Grant for Submarine Cable Feasibility Study

May 23, 2024

The US Trade and Development Agency (USTDA) has awarded a feasibility study grant to CdNet Communications Ltd (CdNet), a Bangladeshi telecom company, for the development of the Bangladesh International Submarine Cable (Bagha-1). This project aims to expand reliable internet connectivity throughout Bangladesh.

NBR to Slash Laptop Import Duties to 21%

May 23, 2024

The government of Bangladesh plans to reduce duties on imported laptops in the next fiscal year to make these devices more affordable for freelancers and students. This move aims to enhance freelancing activities and support the software manufacturing industry.

Ulka Games Deposits Tk 50.76 Crore Tax Arrears After Legal Proceedings

May 21, 2024

Ulka Games Limited has deposited Tk 50.76 crore in tax arrears from its BRAC Bank account, covering the tax years 2020-2021 and 2021-2022, to the government treasury after a month-long legal process. Initially delayed due to an ownership dispute among Ulka Games' owners, the High Court issued a stay order on May 1, which was lifted after legal procedures were completed, allowing the National Board of Revenue

eGeneration and BdAIO Team Up to Drive AI Innovation

May 20, 2024

Related News

eGeneration Wins Cyble’s Cybersecurity Award

May 28, 2024

eGeneration PLC, a leading system integration company known for its commitment to digital security, has been recognized by Cyble, a global leader in digital risk profiling and threat intelligence.

ADN Technologies Brings Microsoft AI Cloud in Bangladesh

May 25, 2024

ADN Technologies and Microsoft Bangladesh recently co-hosted an event featuring a product demonstration, attended by key participants such as the CEO of ADN Technologies, and the country managing director of Microsoft Bangladesh, Bhutan, and Nepal, along with other senior officials.

 

CdNet Receives USTDA Grant for Submarine Cable Feasibility Study

May 23, 2024

The US Trade and Development Agency (USTDA) has awarded a feasibility study grant to CdNet Communications Ltd (CdNet), a Bangladeshi telecom company, for the development of the Bangladesh International Submarine Cable (Bagha-1). This project aims to expand reliable internet connectivity throughout Bangladesh.

NBR to Slash Laptop Import Duties to 21%

May 23, 2024

The government of Bangladesh plans to reduce duties on imported laptops in the next fiscal year to make these devices more affordable for freelancers and students. This move aims to enhance freelancing activities and support the software manufacturing industry.

Ulka Games Deposits Tk 50.76 Crore Tax Arrears After Legal Proceedings

May 21, 2024

Ulka Games Limited has deposited Tk 50.76 crore in tax arrears from its BRAC Bank account, covering the tax years 2020-2021 and 2021-2022, to the government treasury after a month-long legal process. Initially delayed due to an ownership dispute among Ulka Games' owners, the High Court issued a stay order on May 1, which was lifted after legal procedures were completed, allowing the National Board of Revenue

eGeneration and BdAIO Team Up to Drive AI Innovation

May 20, 2024

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here