The Impact of Cloud Computing on Data Security in Retail Banking: A Case Study of Access Bank, Cross River State
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Background of the Study:
Cloud computing has emerged as a transformative technology in retail banking, offering scalable and flexible IT solutions that support data storage, processing, and management. Access Bank in Cross River State has increasingly adopted cloud computing platforms to enhance its operational efficiency and improve service delivery. However, while cloud computing provides significant benefits such as cost reduction, improved data accessibility, and enhanced collaboration, it also introduces critical challenges related to data security and privacy (Ibrahim, 2024). With sensitive customer information being stored and processed in cloud environments, banks face heightened risks of cyber-attacks, data breaches, and unauthorized access. To address these risks, Access Bank has implemented robust security protocols, including encryption, multi-factor authentication, and regular security audits, to safeguard data in the cloud. Despite these measures, uncertainties remain regarding the full security implications of cloud migration, particularly concerning regulatory compliance and data sovereignty. This study investigates the impact of cloud computing on data security in retail banking at Access Bank, examining both the advantages and potential vulnerabilities associated with cloud adoption. By analyzing security incident reports, compliance records, and customer feedback from 2023 to 2025, the research aims to provide a balanced evaluation of how cloud computing affects data security and what strategies can mitigate the associated risks (Okafor, 2023).
Statement of the Problem:
Although cloud computing offers numerous operational benefits, Access Bank in Cross River State faces significant challenges in ensuring the security of customer data stored in the cloud. Concerns over data breaches, unauthorized access, and compliance with data protection regulations remain paramount. The transition to cloud-based systems has introduced vulnerabilities that traditional on-premise systems did not face, particularly regarding multi-tenant environments and third-party vendor dependencies. Additionally, the lack of standardized security protocols across different cloud platforms can lead to inconsistencies in protection levels, further heightening risk. These issues are compounded by the evolving nature of cyber threats, which necessitate continuous updates and vigilance. The gap between the theoretical security benefits of cloud computing and its practical vulnerabilities poses a major risk to both customer trust and the bank’s operational stability. This study seeks to explore these challenges in depth, evaluate the effectiveness of current security measures, and identify areas where improvements are needed to ensure that cloud computing does not compromise data security in retail banking (Chinwe, 2023).
Objectives of the Study:
• To assess the impact of cloud computing on data security at Access Bank.
• To identify the primary security vulnerabilities associated with cloud adoption.
• To recommend strategies for enhancing data protection in cloud environments.
Research Questions:
• How does cloud computing affect data security in Access Bank’s retail operations?
• What are the main vulnerabilities introduced by cloud migration?
• What measures can be implemented to strengthen cloud security and compliance?
Research Hypotheses:
• H₁: Cloud computing significantly improves operational efficiency but introduces specific data security vulnerabilities.
• H₂: Inconsistent security protocols in cloud environments negatively affect data protection.
• H₃: Enhanced encryption and standardized security practices will mitigate cloud-related security risks.
Scope and Limitations of the Study:
This study focuses on the impact of cloud computing on data security at Access Bank in Cross River State, utilizing security incident data, compliance audits, and customer surveys. Limitations include rapidly evolving security threats and potential variability in cloud service provider practices.
Definitions of Terms:
• Cloud Computing: The delivery of computing services over the internet, including storage, processing, and data management.
• Data Security: Measures taken to protect digital information from unauthorized access or corruption.
• Data Sovereignty: The concept that data is subject to the laws and governance structures within the nation it is collected.
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