The integration of software-as-a-service (SaaS), platform-as-a-service (PaaS), and infrastructure-as-a-service (IaaS) into the cloud, to act as a solution that allows users to access data is known as cloud deployment. There are many kinds of cloud deployment models used by businesses, enterprises, and even banks. These are private, public, hybrid, or community models. The models are built based on different factors. Businesses choose a cloud deployment model based on the needs of the user or consumer and the needs of the organization.

Banks and other financial service providers are also incorporating cloud deployment into their systems. A cloud-native platform for banks allows them to centralize many of the services they offer to make it more convenient and user-friendly.

Different Kinds of Cloud Deployment Models

As mentioned above, four different kinds of cloud deployment models are used based on the needs of the organization. The banking infrastructure has changed and evolved into an open banking platform with the use of cloud deployment and use of APIs. The different kinds of cloud deployment models are:

• Private cloud model: A private cloud model refers to the cloud used by a single company. The software system used in this kind of model is based on security guarded by various firewalls. This model provides more control over the company’s data and its management.

• Public cloud model: This model is used by companies based on a subscription. The systems and services used in this model are more easily accessible by the users and are commonly used by companies with minimal privacy concerns.

• Hybrid cloud model: A hybrid cloud model integrates private and public cloud models into a singular model. Tasks that require higher security are performed using the private model, while tasks with lower security risks are performed using the public model.

• Community cloud model: This model supports different organizations by sharing resources and data that belong to one community. With similar software used in private models, a community model differs only with its sets of users. More than one organization belonging to the same community can access the data in this model.

What Are the Various Approaches to Cloud Deployment?

Based on management of responsibility for deploying different solutions, cloud deployment has two different kinds of approaches. These are:

• The cloud is deployed by a third party, used in the community, public or private cloud model.
• The cloud is deployed by a single entity, as is used in the private cloud model.

SaaS cloud deployment can be used either in the public cloud model or private cloud model. However, when a singular entity manages a hybrid cloud model, the SaaS deployment can also be used. There are virtual private clouds that function in the same way as private clouds do but in a public space. This means that only trusted entities can access the cloud. These virtual private clouds also use SaaS deployment.

Vulnerabilities of Cloud Deployment

With any kind of software used to store data and resources, there will always be certain kinds of threats, vulnerabilities, and risks. Some of the threats and vulnerabilities of using cloud deployment mode are:

• Less transparency: Using a cloud-based system for different kinds of assets and operations can lead to a loss of control and visibility. This results in little to no transparency from the users’ perspective. This is due to the shift of responsibility from the organization, bank, business, or company to the cloud provider.

• Unauthorized use of cloud services: With the self-service feature that many cloud providers provide to the users, there is an increased risk of using unauthorized services. This can be done by the organization’s personnel with the organization’s IT department's lack of permission. The low cost accompanied by the easily implemented PaaS and SaaS products from the cloud providers increases unauthorized use.

• Compromised internet-accessible management: The application programming interfaces that are used by the users to access or manage the cloud services have many kinds of vulnerabilities that can be used to compromise data or resources.

• Stolen credentials: Once attackers get access to the cloud; they can easily steal the data and credentials stored in the cloud. This can lead to larger access to the organization’s systems as well as data, which could be catastrophic.

• Lost data: Any kind of suspicious malware leaked onto the cloud can lead to the accidental loss or deletion of important data. Loss of data can also occur when users forget the encrypted key to encrypted data. The inadequate understanding of the storage model used in the cloud may also result in the loss of data.

• Incomplete data deletion: Because of the lack of transparency with some cloud models, the deletion of data by users can remain incomplete. This is a result of the lack of knowledge of the actual location of where the data has been stored.

How to Avoid these Threats and Choose a Cloud Deployment Model that Suits Your Business?

While deciding which cloud deployment model is best for a business, many considerations have to be made. Further, to select a cloud deployment model that will suit a particular business the most, it is crucial that the cloud service models are taken into consideration.

• Platform-as-a-Service, or PaaS: This allows the deployment to take place easily. This service is used for authentication, payment gateways, data access, creating and maintaining an infrastructure for efficiency and scalability, etc. The cloud infrastructure manages processing, memory, and storage, which makes it more convenient for developers. The process of developing an application is also done by PaaS.

• Software-as-a-Service, or SaaS: The services offered by SaaS are online. This allows many users to use this service. The software used to provide the services are managed centrally, while the services and applications can be accessed through the internet. The centralized management of applications allows software upgrades, patches, security, etc., to be taken care of by the provider or the user. SaaS can be used in an e-mail, helpdesk services, support services, logistics tracking, monitoring progress in sales and marketing domains, financial services management, customer relationship management, etc.

• Integration-as-a-Service, or IaaS: This provides the infrastructure for provisioning of servers running several choices of operating systems and customized software. The services, such as the delivery of resources, provision of dynamic scaling, pricing model based on utility usage, support for multiple users, etc., are available for on-demand access. IaaS is most suited for businesses and organizations that lack the capital to invest in hardware but need rapid growth for scaling.

Cloud deployment models are created based on the service models or infrastructure detailed above. Based on the service model that suits their needs the most, businesses or organizations can decide on the cloud deployment model that will provide all the required services.

Benefits of a Cloud Model

Cloud technology has been gaining a lot of traction over the last few years. This is primarily due to the advantages it offers over the traditional approach. Some of the standout benefits of using a cloud model are:

• Scalability and flexibility: The connection to multiple servers by using a cloud-based infrastructure offers banks the ability to access and process data easily without the need for additional capital. Banks can stay relevant in a competitive environment with the scale computing capacity to keep up with customer needs.

• Cost optimization: Banks can reduce capital spending with the help of cloud models. This is because these models reduce the need for additional software or hardware, or personnel to manage and maintain servers.

• Increased efficiency: Banking process and the delivery of services have become more streamlined with the adoption of cloud-based models. Different services and tasks can be accessed or performed on a cloud-enabled platform making it more efficient and convenient to use.

• Agility and innovation: Streamlining processes and the incorporation of new technology provide customers an innovative way of accessing services provided by banks. The cloud-based models allow quick and easy access to software and multiple kinds of services.

Cloud technology has emerged as a preferred option for various sectors in the last few years, and the trend is expected to continue in the future as well. Easy scalability, cost-effectiveness, and better control make cloud deployment a suitable option for businesses looking to scale their operations in an extremely competitive market.