This article looks at studies on how to use business continuity management for Hong Kong’s virtual banks in order to reduce customer information risks, so as to maintain business sustainability. Firstly, the development of virtual banks in Hong Kong were investigated, the laws and regulations and regulatory policies of Hong Kong and the Mainland were benchmarked, and the main risks that may occur and be harmful to the bank business sustainability were analyzed. Considering the characteristics of virtual banks, the main concerns of public customers about the IT risks of virtual banks through questionnaire surveys were collected and analyzed. Moreover, the importance of business continuity management to virtual banks was drawn. Secondly, in the case studies, via understanding the overall situation of WeBank, its performance during the COVID-19 pandemic, and the regulations of the Monetary Authority of Singapore, the practice standards of virtual banks in business continuity management were further clarified. At the end, three suggestions for virtual banks in Hong Kong were put forward to reduce customer information security risks through business continuity management, thereby maintaining its business sustainability.
Abstract. Cloud computing is one of the most cutting-edge advanced technologies around the world. According to the recent research, many CIOs who work for famous corporation mentioned that security issues have been the most critical obstacles in the adoption of cloud technology. As one of the prominent application of cloud computing, cloud storage has attracted more concerns; however, many security problems existing in cloud storage need to be resolved. This applied research paper briefly analyzes the development of cloud storage security, comprehensive discussion of several general solutions to those problems introducing several non-technical issues, such as third-party issues, trust mechanism in cloud computing. Finally, some possible improvement to those solutions is provided.
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