Why Choose Cloud Computing?
Despite the fear of data leakages, banks have placed more faith in cloud computing in recent years. Having taken it out of their vault, the traditional concern of security has faded slowly, which has been a pivotal part of this transition. From compliance to unauthorized access, it is understandable why banks have been reluctant to implement this innovative technology.
Since the European Commission released their European Cloud Partnership policy paper, there has been serge in confidence. With many opting to capitalise on this technology, how does it actually help the finance industry?
How can you benefit from cloud computing?
· Cost – Just like any piece of technology, it carries a huge reduction in cost. Cloud computing reduces the need to invest heavily in dedicated hardware, software and any related human resources.
· Agility – Being agile is a critical part of any business in the 21st century. The use of cloud computing can bring agility to financial institutions as it is available on demand, meaning no investment on infrastructure is required. Thus, the development cycle is shortened and companies can respond quicker to the changing market
Despite the two huge benefits it brings, the downsides which are present have deterred some from utilising cloud computing as a resource.
· Outages – Due to the nature of cloud computing, internet connection is an essential part which can halt access. Additionally, just like other technologies, failures can occur causing outages. In 2014, the world saw DropBox face an outage for nearly two days. Is your business ready to chance such consequence if your service provider goes down
· Security – Similarly, to the above, the internet means it isn’t exactly the most secure place. Nothing connected to the internet is perfectly secure and attacks can happen
To ensure you are informed of the latest in regards to Cloud Technology, we have two sessions which will focus on preventing data leakages and increasing agility without compromising security. Don’t miss this fantastic opportunity to learn, engage and network with senior banking professionals in London this October! For more information, please visit: http://www.arena-international.com/ebf-security-risk?clearcache=1 or email us at: email@example.com
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