Author(s)

Zhou Xue ¹

Affiliation(s)

¹ LIANGAN AI Technology Co., Ltd., Osaka, 558-0011, Japan

Corresponding Author

Zhou Xue

ABSTRACT

The extensive application of cloud computing technology in financial services has significantly enhanced data storage and computational capacities, driving the development of innovative services such as robo-advisory and risk management. It has also strengthened the operational resilience and disaster recovery capabilities of financial institutions. However, challenges such as data security, regulatory compliance, and technological dependency present higher demands for the industry. This paper deeply analyzes the critical role, major challenges, and strategies for cloud computing in financial services, proposing layered security systems, multi-cloud collaboration models, and internal technical capacity building to achieve efficient and secure cloud computing applications. The findings indicate that cloud computing, as a core technology in the digital transformation of the financial industry, will provide a solid foundation for future innovation and sustainable development.

KEYWORDS

Cloud computing technology; financial services; application strategies

CITE THIS PAPER

Zhou Xue, The Application and Challenges of Cloud Computing in Financial Services. Financial Engineering and Risk Management (2024) Vol. 7: 117-123. DOI: http://dx.doi.org/10.23977/ferm.2024.070615.

REFERENCES

[1] Wang Guona. Leveraging digital technology to expand the radius of agricultural financial services. China Agricultural Resources and Zoning, 2023, 44 (2): 251263.
[2] Du Rongrong. Research on the Impact of Digital Inclusive Finance Development on the Technological Complexity of China's Manufacturing Export Industry [D]. Inner Mongolia University of Finance and Economics, 2024.
[3] Sun Haocheng. The main applications and development status of cloud computing finance [J]. Science and Information Technology, 2024 (13): 147-149. 
[4] Liu Jirui. Research on Financial Risk Investigation of Commercial Bank Supply Chain under Big Data Technology: A Case Study of Industrial and Commercial Bank of China [J]. Knowledge Economy, 2023634 (6): 61-63.
[5] Xiang Xuan. Can financial technology promote green technology innovation in enterprises? Evidence from Chinese listed companies [D]. Shanghai: Shanghai University of Finance and Economics, 2023.

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