Financial institutions are traditionally cautious and hesitant to stay at the forefront of technological advances due to security and organizational concerns. Despite these challenges and concerns, banks are slowly beginning to move towards cloud computing. PWC, one of the world's largest professional service firms, conducted a survey with more than half of the major financial institution in the United States. Four times as many claimed that they were ready to heavily invest in cloud computing than during the year previous.
If your company isn't taking the plunge in cloud computing, you're going to fall behind quickly. Here are some of the ways cloud computing is already transforming the banking industry:
Driving Costs Down
Moving your mission-critical business applications and data to the cloud means that you don't have to store them locally. That means no physical infrastructure is necessary. You'll save a ton of money on the costs associated with purchasing, maintaining, and housing the necessary hardware you're avoiding on the cloud.
Improving Client-Bank Relations
Having better control and access to your data makes using it easy. You'll have more information about your customer's habits and preferences, allowing you to serve them better than you could before. You'll also be able to bring customer-facing technology to the cloud, offering your customers the same improved performance, information, and accessibility that you'll enjoy internally.
With technology moving so quickly, you need to be adaptable and scalable to stay ahead of the curve. Working with a strong cloud service provider allows you to upgrade and respond to market demands as quickly as you need. You'll be able to update everything remotely without having to worry about any physical infrastructure or housing needs. Best of all, your service provider will be able to take care of the work for you - freeing your time for more important tasks!
Many experts fear for the security of the cloud. However, if you use the right partner it's actually safer than keeping it in-house. Virtualized applications offer options like data encryption, SSL management, and enhanced credentialing. In the financial industry where security is a driving force, cloud services are more important than ever.
As a leading cloud service provider, we're more than happy to assist your bank with any cloud services you need. Give us a call today before you fall even further behind in cost, client relations, scalability, and security!
Are You Looking for a Cloud Service Provider in The Bahamas, Caribbean or Latin America?
If you're thinking about switching to a cloud service provider, consider Cloud Carib. Located in Nassau, Bahamas, Cloud Carib is a cutting-edge, cloud service provider that offers private, public, and hybrid cloud solutions. If you're looking for tailored cloud solutions from a reliable provider, call (800) 390-2806 to speak to a cloud specialist.