Open Banking Hybrid Cloud Architecture

Open Banking Hybrid Cloud Architecture

Nayan Agarwal, Nikhil Sharma, Akshay Jain , Guided by : Mrs Neetu Garg

Department of Computer Science , Maharaja Agrasen Institute Of Technology, Delhi, India

Abstract : Individual Banks and the Banking System as a whole make a home for a large chunk  of its client data and various forms of possible interactions and transactions that are  carried by the end-users of the bank. Due to security purposes, this data presently is  being given very limited access to the users and staling out in the Banking  Databases. There is a need to design a system for making this information publicaly  available for upcoming SMEs and individuals those can benefit from the potentially  existing demographic trends keeping a check of the possibly emerging regulatory  threats.

We plan on building a system called Open Hybrid Multi Cloud System which would have the following  features:-

• Making the information being withheld by the Banking organizations, publicaly available for upcoming SMEs and individuals those can benefit from the potentially existing demographic trends.
• Assumptions:
  1. All the security threats have been taken into consideration and resolved.
  2. Considering banks as virtual entities with no real life existence.
  3. We have customer consent access to their transactional data.

Keywords: Bank , data, API,  cloud , open banking.