With the ever-increasing number of mobile phone users, banks should adopt a mobile-first strategy. Traditional banks are facing a threat from tech giants who are now focusing on developing mobile-based financial services. To achieve a successful mobile-first strategy, banks should resort to agile methodology. With the help of agile methodology banks can solve many challenges that they are facing today. With mobile technology, data on customer needs and preferences will be generated which can be leveraged to gain insight on customers. Lean start-up techniques can be devised for creation of new services in uncertain situations. Platform-as-a-Service (PaaS), a cloud technology solution can be used to develop mobile apps. Thus, a successful mobile-first strategy requires an IT infrastructure enabled to adopt agile methodology and can leverage data and analytics on a big scale with PaaS. Read more at: https://channels.theinnovationenterprise.com/articles/7609-how-can-banks-achieve-a-successful-mobile-first-strategy

“Companies are pushing more sensitive and regulated data into the cloud. But, this journey is raising questions like 'security of data'.”

Applying software-as-a-service (SaaS), Infrastructure-as-a-service (IaaS) and platform-as-a-service (PaaS) add on some more risk to the organizations. Ericka Chickowshi(specializes in information technology and business innovation) in her article “10 security questions to ask a cloud service provider” at Informationweek, discussed about 10 questions to be asked by companies from SaaS service providers before applying cloud. Some of them are:

·         Do you keep a signed audit trail of which users performed what actions when, both through their UI and API?

·         What is my role and your role in the protection of my data?

·         Do you encrypt all data transmissions, including all server-to-server data transmissions, within data centers?

·         What is your termination or ‘exit process’ for ensuring successful transition from services to an alternative offering?

·         Do you allow customers to perform scheduled penetration tests of either the production environment or a designated testing environment?

Asking these questions can help you to assess the risk. To know more questions and their reason for asking, visit the following link: 
http://www.darkreading.com/informationweek-home/10-security-questions-to-ask-a-cloud-service-provider/d/d-id/1320377