Banking in the Cloud

As cloud computing and storage become more popular, the need for cloud security is stronger than ever. To ensure your financial institution is protected, it's time to get your head in the cloud.

Articles published May 7, 2019 by Steve Simpson

Learn how cloud computing and security can help your business.

1. Cloud security minimizes threats.

Infrastructure, data and applications involved in cloud computing services offer high levels of security that can minimize concerns such as data leaks, weak access controls, vulnerability to attacks and availability disruptions. Cloud solutions also give IT teams secure data management, detailed analysis and access from anywhere through cloud networking. Cloud security provides controls to protect data applications and the cloud system through a variety of strategies and policies. Cloud systems may also prevent cyberattacks more holistically with artificial intelligence and machine learning that protect data better and more efficiently.

2. Cloud solutions are scalable.

Moving to the cloud offers efficiency and flexibility. Cloud solutions give financial institutions the ability to respond quickly to changing technology needs, scaling up or down according to requirements and allowing rapid deployment of new projects. Resources can be added easily with a metered, pay-per-use model which makes costs more predictable. Cloud systems also offer 24/7 uptime, secure storage and a centralized computing environment, giving staff increased connectivity across multiple branches and locations.

3. Cloud solutions are easy to implement.

As hardware and software components age and approach end-of-life status, it might be the perfect time to consider a move to the cloud. Banks have the choice to purchase and install new infrastructure, such as servers and storage, or move to a cloud solution where software applications, data storage and backups run on hosted virtual servers within a data center. Moving to the cloud can reduce upfront costs associated with buying and installing new hardware, in addition to reduced risks and expenses associated with its maintenance and support. Roll-out of a cloud migration can also occur in phases, allowing time to properly test elements, reduce risk and maintain business continuity.

Ready to make the move?

Cloud computing companies such as Aureon provide the cloud solutions, infrastructure, and IT support you need to ensure your data and applications are safe. If you’re ready to make the move to the cloud, work with a provider that focuses on network and data security. Understand the security layers, processes and services they have in place, including 24/7 monitoring, data backups and standards for compliance, such as SOC2.