Secure Administration of SEPA Servers in A Cloud Environment

Abstract: Cloud Computing is the emerging way of getting benefit from technology. Cheap solutions motivate everyone to put their heads into the wheel at least once to increase their output. Cloud computing provides three difierent levels of services. SaaS, PaaS and IaaS, which are very attractive for consumers. This attraction is also very charming for banking industry, as cloud computing suits this industry in many ways. Banks do not need to spend money on IT resources and can get all within a cloud. However, it is not so easy in adoption, as it seems in words. Many genuine concerns arise about how banks can work in such environment. There are many risks to face (data and credentials security, privacy) which can only be understood after working in such an environment. Our research focuses on development of such an infrastructure where we can test these risks and address their solutions. After the initial study in this area, we found the service model of cloud computing, which suits the best banking industry, is IaaS. Therefore, we configured relevant servers, setup basic frontend and developed a cloud platform with basic authentication and authorization services. After successful implementation of this cloud platform with some other appli- cations, we developed a banking solution named SEPA Secure Banking which is our main research area for banking system. We made our SEPA banking solution operative inside our cloud system to analyze the security risks and concerns a bank can have. We also implemented standard security services as s result of our findings.