Rubik "learning to fly" Intro to cloud banking - may2010 draft
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A discussion of the benefits and risks of cloud based computing for banking and financial institutions

A discussion of the benefits and risks of cloud based computing for banking and financial institutions

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Rubik "learning to fly" Intro to cloud banking - may2010 draft Presentation Transcript

  • 1. Rubik Financial Limited – Learning to Fly August 2009 CONFIDENTIAL
  • 2. Challenges - what problem are we solving? – Data silos and maintaining a secure perimeter with legacy design – Energy consumption and low system usage – Increased labour costs and pool of professionals spreading and declining – User demands - used to many web based free, high quality, reliable services with great User Interfaces (UI) – Data volume growth CONFIDENTIAL 1
  • 3. Examples of ‘Cloud’ Services • Software as a Service (SaaS) – GoTo meeting / Webex – Sales Force – Gmail & Google Docs – Zoho • Platform as a Service (PaaS) – Force.com – AppEngine - Google – Apple App store – Rubik Bank-in-a-Box • Infrastructure as a Service (IaaS) – Amazon S3 – MS Azure Note: all logos owned by respective businesses – CONFIDENTIAL illustration only 2
  • 4. Definition of cloud • Characteristics – On demand – Any device – Self service – Pooled resource – Elastic provisioning – Service measurement • Deployment – Private Cloud – Public Cloud – Hybrids/shared Image from VMWare - www.vmware.com/products/cloud-os/ CONFIDENTIAL 3
  • 5. Technical Benefits • Provisioning speed • Storage capacity • Agility / flexibility – Elasticity – Load balancing – burst • „green‟ computing – power and resource saving • Attracts innovators and rapid prototyping • Specialized services – lesson learned can be shared across multiple tenants CONFIDENTIAL 4
  • 6. Business • Ease of adaption – Configuration over customisation – Speed to market – Device independence • Availability – Resilience – Redundancy – Response • Cost structure – Units - Pay as you grow – Low Capex CONFIDENTIAL 5
  • 7. Security benefits – Cloud has to be more secure simply because it is the greatest impediment to adopting cloud solutions! – Some advantages • Data held centrally • Data access, and backup all controlled and logged • System Snapshots for EOM, forensics, training, … • Virtual systems allow easy recovery • Security tests can be more extensive and frequent – A serious cloud provider will be in conformance with all required security and compliance requirements by design. CONFIDENTIAL 6
  • 8. Hidden benefits • Legacy free • “Web” Standards - XML, Services • Common defined interfaces • Focus shift – Processes – Outcomes – Offers • Third party contracted management of some key business risks CONFIDENTIAL 7
  • 9. ‘Normal’ risks • Service interruption • Tested BCP/DR – Backup – Response – Recovery • Privacy CONFIDENTIAL 8
  • 10. Outsourcing risks • Intellectual Property (IP) • Data – ownership – security – co-mingling – location • Sustainability • Compliance CONFIDENTIAL 9
  • 11. Cloud specific risks • Contract / SLA terms • Liability • Reputation • Metrics Mediocrity Rules in Cloud SLAs CONFIDENTIAL Source: Yankee Group, 201 10
  • 12. Mitigants • Strong Service Level Agreements (SLAs) • Transparency – Reporting & Monitoring – Incident response • Governance – Certification • Security – ISO 27001 • BCP/DR – ISO 9001 & ISO 31000 • Staffing – „fit and proper‟ • Quality – ISO 9001 – Audit / assurance to verify CONFIDENTIAL 11
  • 13. Rubik delivers with strong partners • Architecture Cloud based core – Multi tenancy banking Rubik Channels – Performance system – Operations • Infrastructure platform Temenos ensures: Microsoft T24 – Design and Set-to-work not required – Virtual servers and SAN Macquarie scale with demand Telecom – Pre-integration with third party connections eg. ATM, EFTPOS, Bulk Payments CONFIDENTIAL 12
  • 14. T24 is ‘cloud ready’ • Temenos T24 is uniquely architected to be the core solution in the cloud: – Database independence – means we can point to logical or physically different data stores depending on customer preference – 24/7 Non Stop – so our customers do not have to juggle processing windows and allows simple mirroring of services – Massively Scalable – we are currently set up for 2m accounts with ability to scale with demand to 10m + – Multi entity allows configurable products, relationships, workflows – SOA and web services – provide easy interfaces and consumable services CONFIDENTIAL 13
  • 15. Secure Hosted Environment •High physical security, including Biometric Entry, anti-ram, 4 ISPs, 2 power providers and warm diesel backup etc. •Highly Protected T4 rating from ASIO and DSD •Sites over 500km apart •ISO 27001 & PCI •High Availability configuration (99.95% ) CONFIDENTIAL 14
  • 16. Benefits Rubik provides • Resources & Skills – 20+ staff trained in T24 – 90 staff in channels and local systems – Local / Global partners on call • Lower project risk – Proven and stress tested infrastructure – Prebuilt basic design elements – Certified interfaces CONFIDENTIAL 15
  • 17. Reasons to use the cloud? • Launch of a proof of concept product without having to integrate legacy systems • Need to support third party channels or distribution points without opening core infrastructure • Access specialist system (eg. Collections, treasury) for low user numbers cost effectively • Isolate tactical business needs from core renewal program • Desire to „mobilise‟ salesforce across variety of devices CONFIDENTIAL 16
  • 18. Rubik Financial Ltd ABN 51 071 707 232 •8/45 Market St, Sydney, NSW •Level 1, 1 Eden Park Drive, Macquarie Park, NSW •4/68 St Georges Terrace, Perth , Western Australia •24/22 Clifford Centre, Singapore 308900 PO Box 4808 Sydney NSW 2001 Phone: +61 2 9488 4000 Fax: +61 2 9449 1116 www.rubik.com.au