A Call for Cloud Computing in the Banking Sector
Economic Confidential, Forthcoming
3 Pages Posted: 4 Aug 2010
Date Written: June 26, 2010
It is a cloudy moment in the banking industry in Nigeria. Every banker is patiently waiting for the raining day. Job insecurity in the sector is gaining more grounds by the day. You hear heads of departments tell their junior officers, 'no one has a job here'. Banks are constantly employing cost-cutting techniques of which 'down-sizing' tops their agendas. I wonder if banks ever considered the dysfunctional effects on their employees. Banks are loosing more to unfair competition, lost of confidential information and stringent regulatory requirements. While cloud computing may come with security and control concerns, it may provide a lot of opportunities for costs control.
Keywords: cloud computing, banks, Nigeria's banks, down-sizing
JEL Classification: G10, G19, G20, G29
Suggested Citation: Suggested Citation