Applying cloud computing in financial service industry

The emergence of cloud computing and its increasing popularity have brought great benefits to our life of information. The cloud computing can provide innovative solutions for the companies to reduce cost, improve service performance and make rapid response to the business changes. With the advances of underlying technologies for cloud computing, it is increasingly gaining applications in the financial service industry. In this paper, we first introduce the definition of cloud computing, then compare BPM use cases in financial service industry with three service models of cloud computing. Finally, this paper analyzes the main challenges and risks that exist in the application, and give the solutions as well.