The Cloud Computing technology is digitally transforming many sectors such as IT, Banking, Retail, Healthcare, Education and Manufacturing, etc. Accessing, storing, migrating and managing data on-premise has become less feasible in today’s era. In such case, Cloud proves to be a boon for solving the above-mentioned challenges in every industry.
The banking sector is one such major domain where cloud can prove to be helpful. Now-a-days cloud is proving to be a worthier option to handle data, and providing an unmatched level of agility, security and scalability to banks. Banks can access the cloud services for data analytics, batch processing and data storage as and when required, this means they can utilize such resources more flexibly and efficiently. Cloud computing also helps financial institutions to achieve considerable gains in efficiency and reductions in costs, as the technology requires banks to pay for only the services they use. Eventually, this means it is much more cost-effective to use cloud rather than maintaining IT infrastructure on-premise.
The banking sector face challenges such as:
The banking sector can choose to switch to cloud operations rather than to stick to on-premise which will help them resolve the challenges mentioned above. Cloud helps bankers to keep their data secured from data breaches or loss and helps them in saving their expenditure on storing the data.
CloudsIntel allows you assess your banks IT inventory and evaluate it to help you decide if they need to be migrated to cloud.
CloudsBrain offer an array of innovative features and modules that can help banks implement business and operating models to improve revenue generation, increase customer insights, contain costs, deliver market-relevant products quickly and efficiently, and help monetize enterprise data assets.
In this article, we’ll learn how CloudsIntel and CloudsBrain proves helpful in assessing, migrating and storing banking data on cloud.
Let us understand how CloudsIntel and CloudsBrain can be helpful to the banking sector:
1. How assessment in CloudsIntel can help in banking?
There are different discovery programs running on the user’s IT infrastructure to generate an assessment report on Cloud readiness for the user. These discovery and assessment are performed specifically on virtual machines, physical servers, applications and databases. For each category, a detailed report is generated that focus on the following factors:
CloudsIntel also provides utilization parameters that give right sizing information for each machine and thus makes it convenient for an optimized solution on the Cloud which saves on user’s expenditure too.
2. Why banks should use the CloudsBrain migration feature?
Migrating on-premise banking data to cloud helps banks become agile, competitive, reduction in server footprint, improved performance, and provide flexibility to access data from anywhere for customers. However, at the same time, migration needs to be done without risking business disruption, security, compliance, performance, and data security.
CloudsBrain Migration Studio is a migration service that offers and renders the solution for various cloud migration demands that include; database migration, infrastructure migration, file migration, and virtual/bare metal migration. It works seamlessly with all the leading multi-cloud providers like AWS, Azure, Alibaba, Huawei, GCP, OTC, and associated services.
3. How cost manager can support banking operation?
CloudsBrain Cloud Cost Studio offers features such as billing, budget management and optimization. Cloud Cost Studio gives a cost comparison among multiple Clouds and Cloud providers. It also suggests the cloud with the best cost, security and functions. It helps the organization to manage cloud costs depending on resource usage.
Billing helps you know the costing insights of Compute, Storage, Cost Trend for multi-cloud accounts and gives the detailed invoice report of all services with price, usage and consumption. With Click2Cloud’s Cloud Cost Studio, an organization can track overall cloud cost spends and manage optimization, budget management, automation, cost governance, cost visibility, cost ownership, budgets, and TCO (total cost of ownership).
4. What is the role of storage in banking and how CloudsBrain supports it?
Customers’ data has always been top priority for banks. Data security breaches have severe consequences for both users and vendors. Data leaks can cost millions of dollars in revenue. Since most banks still rely on on-premise systems, breach in data security is on the rise. The mythical enterprise storage solutions are based on proprietary hardware and controller-based storage arrays, which are expensive and inflexible.
Click2Cloud has built a platform that accomplishes to address storage integration challenges, particularly in scale-out cloud-native environments with heterogeneous storage platforms. Click2Cloud’s CloudsBrain with Storage feature offers object and block storage for a single clustered platform.
The top cloud providers supported by CloudsBrain storage services are Microsoft Azure, AWS, Alibaba, Google Cloud Platform (GCP), IBM, Huawei, Open Telecom Cloud (OTC) and Orange cloud.
CloudsBrain storage also offers a huge opportunity to synchronize the enterprise; to break down operational and data silos across risk, finance, regulatory, customer support, and more. Once massive data sets are combined in one place, the organization can apply advanced analytics for integrated insights.
Thus, Click2Cloud’s automated solutions allows banks to easily access, migrate, store and resolve security related challenges to provide their customers a smooth and flexible experience. Looking onto the multiple benefits of cloud; banks should definitely think to opt for it.
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