A cultivated evolution
New and innovative technologies have traditionally had to meet a high burden of proof for adoption into the financial services family. Caution is understandable. This is a tightly regulated industry, and enterprise-level organizations must constantly find ways to reconcile restrictive compliance guidelines with a dynamic global economy that demands flexibility and modernity. To reach an internal proof of concept stage, much less pass its rigor, new technologies must prove themselves indisputably reliable, secure, and cost-efficient.
Such conditions are precisely why the public cloud, as part of a hybrid infrastructure, has evolved into the industry standard. Offering stringent data protection systems and compliance protocols that can exceed regulatory requirements, the cloud has transformed the way firms of all sizes do business. In this way, the financial services industry has moved in parallel with the economy at large: Gartner predicts that by 2020, 90 percent of organizations will adopt hybrid infrastructure management capabilities.1 The cloud’s integration into the financial services industry has been the product of a steady and cultivated development process, focused on maximizing benefits while adhering to regulators’ strict requirements. The result: a dynamic, revenue-generating platform that is tailored to the industry’s unique demands and use cases.
“Cloud computing presents unrivaled opportunities… while simultaneously improving efficiency, agility and scalability, and reducing total cost of ownership (TCO).
A financial institution’s guide to the public cloud