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Cloud Computing in Banks

Updated On : November 2016  |  by  Sandeep Shrivastava (Senior Manager - Pre Sales)

In last decade, Banks have observed transformation of banking experience end customers led by Information Technology (IT) enabled solution and services such as Core Banking, Internet Banking, Mobile Banking, Wallet, Cards and Kiosk Banking. Both banks and their customers are benefitted by the evolution of IT in Banking sector. The business models of Banks are now oriented around achieving customer delight through IT enabled solutions and services.

A big slice of Banks' annual budget is now being allocated to their IT department. To meet the demand of regulatory and customer satisfaction banks need to spend more on procuring and maintaining IT Solutions, IT hardware, system software and Networking. Banks with lesser financial background find difficulties to meet the desire level of IT Implementation due to higher capital expenditures.

Cloud computing can help banks to lower the capital investment in IT infrastructure. Cloud computing converts big capital expense into smaller operational expenses. Worldwide not only smaller banks but larger banks too are now perceiving vision to adopt cloud based IT solutions to control the expenses on IT infrastructure.

Cloud technology enables banks to adopt a new model at lower cost for delivering innovative channels, reduced TAT to market new offering, meeting customer expectation and comply regulatory guidelines. Cloud based solutions deliver a higher value proposition of IT solutions and services in rapidly changing technical paradigms.

In cloud computing, system admin can remotely assemble, install, configure and deploy virtual resources to run the business solution. Moreover, cloud IT infrastructure can be expanded or reduced at any time based on the expected utilization and requirement without any astonishing financial burden.

Cloud computing will help Banks to meet the following business challenges:

Pricey IT

Cloud computing converts Capital Cost into Periodical Operational Cost thus regulate cash outflow

Cost of Regulatory Compliance

Bank can afford the required solutions at lower cost in "Software as a Service" model to comply the regulatory requirements


Cutting down capital investment on IT infrastructure will reduce the capital inadequacy of the Bank

Market Competition / Business Growth

Bank can save 3Ms (Man, Minutes and Money) by implementing cloud computing and utilize these in new business opportunities


Banks on cloud computing are better prepared to economic uncertainties, environmental changes and shift of customer expectations

In India, the newly licenses Small Finance Banks and Payment Banks are proactively embracing cloud computing for their core and surround banking solutions. It is not only helping them to reduce the capital expenses to start the business but also aiding flexibility to scale the infrastructure in future based on the growth of the business.

Nelito is offering its core banking, financial inclusion, KYC and other surround solution on cloud. Cooperative Banks, UCBs, PACS, Credit Societies and NBFC can use these cloud based solution and reap the benefit of cloud computing.

Nelito provides the complete spectrum of services with regards to cloud, our services comprise of consulting, architecture setup, designing, implementation, and monitoring.

We empower businesses by accelerating innovation, and providing business agility while optimizing costs. Comprehending the constant need to experiment and innovate.

We offer development across Software-as- a-Service (SaaS) for enabling customer to leverage the benefits of Cloud.

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    Mr. Ratheesh K. Bharathan | Exec. Vice President & Co- Founder

    WheelsEMI PVT. LTD.
  • "For a Bank of our size, this system suffices and is very cost effective. Almost all of the bank’s activities run on the one system. Nelito constitutes a partner more than a supplier and the relationship includes provision of the bank’s underlying technology as well as its Fincraft range of applications."


    The Nainital Bank Ltd.
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    IT Head

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    Deputy General Manager (IT Department)

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    Principal secretary Department of Labour

    Govt. of Sikkim
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    Federal Bank
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    Additional Director (IT)

    Govt. of Manipur
  • DGM

    "On 20th of November 2016 our bank data was migrated to FinCraft and we have completed one year successfully in FinCraft. So we thank all the team members of both IFTAS and Nelito for your great co-operation in this success. We expect more & more co-operation in implementing new technologies in banking sector from your side in future."

    M V Kumar | CEO

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    Sikander Gupta | CEO

    The Jammu Central Co-op Bank Ltd.
  • DGM

    "The Bank is associated with M/S Nelito since 2002. M/S Nelito Systems Ltd has been our CBS vendor since 2009. The Products, quality of service offered by them are excellent. They have a very good support team and are trained enough for handling any type of situation."

    D K Kandpal | Vice President (IT)

    Nainital Bank
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    "We appreciate your local team who continuously supported & assisted our team to meet the goal."

    Nagendra Nath Sinha | Principal Secretary IT

    Government of Jharkhand, Ranchi
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    Rachelle F. Rivas | IT Project Manager (Senior Manager)

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    Dinesh Negi | VP (Clg)

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    K.T. Wadia | CEO

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    Sanjay Kamlakar | Under Secretary to GoM

    Government of Maharashtra
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    Susanta K. Padhi | DGM

    National Housing Bank