Benefit and Risk Assessment for Having Disaster Recovery in Cloud Computing for Banking Industry: Go/No-Go Decision Making Model

Abstract

Over the past year, we all have been showed many cloud-based solutions for so many purposes, starting from the public storage facilities to the disaster recovery solutions. We have learned that enterprises need to pay more attention to the cybersecurity, especially for the banking industry. The bank needs to encompass all that protects the bank from the attacks, breaches, disruptions, and incidents and also the consequences, but still need to reduce costs. So as the result, the solutions need to be aligned with all of the other aspects within the bank, which include the governance, management and risk assurance. The idea of having the disaster recovery in the cloud have to also consider the information security aspects, as the bank is trying to get the maximum benefit that the bank can get from the cloud like to minimize the cost needed by the bank’s activities, but still need to consider the results of the risk assessment as one of the requirement in implementing the cloud solutions. The other thing that the bank has to consider is the compliance aspect.