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Journal of Emerging Trends in Computing and Information Sciences >> Call for Papers Vol. 8 No. 3, March 2017

Journal of Emerging Trends in Computing and Information Sciences

Cloud Computing Conceptual Security Framework for Banking Industry

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Author Meskerem Alemu, Abrehet Omer
ISSN 2079-8407
On Pages 921-930
Volume No. 5
Issue No. 12
Issue Date January 1, 2015
Publishing Date January 1, 2015
Keywords Cloud Computing, Banking Industry, Security Framework, Security Matrix


Abstract

Cloud computing is a prospering technology that most financial organizations are considering for adoption as a cost effective strategy for managing Information Technology (IT). However, financial organizations such as banks still consider the technology to be associated with many business risks that are not yet resolved. Such issues include security, privacy, legal, compliance and regulatory risks. Due to lack of professionals and adequate security frameworks in the area, the issue is getting scaled up to become a severe problem. In this research ,through conducting systematic literature review on cloud computing and banking industry security standards, policy and best practices coupled with interview as methods of data collection, we proposed applicable Conceptual Cloud Computing Security Framework for Banking Industry. The Sherwood Applied Business Security Architecture (SABSA) enterprise security model is used as a guide for designing the newly proposed security framework focusing on architects view of five basic security matrix question (What, Who, Why, Where, How). The proposed framework incorporates major component that addresses security, privacy, legal and compliance and regulatory issues.
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