FinTech companies have realized that they must disrupt themselves to deliver the digital products and services that customers can’t live without, or risk being disputed by a cloud enabled upstart. While many FinServe companies like Capital One have gone all in on the cloud, more and more banks, insurance, mobile payment, crypto, and trading companies find hybrid architectures to be an advantage in the race to deliver, dazzle and make life easier for their customers.
What Benefits Do Financial Organizations Get From the Hybrid Cloud?
From elasticity to scalability, the secure cloud of today is an ideal accompaniment to colocated infrastructure. No longer is the CIO, CTO and CISO limited by the gear in their data center, and with development teams can spin up cloud infrastructures at will to test and develop the next great FinTech solution.
Moving to the cloud has enabled many large banks to also move from costly on-premise data centers. By outsourcing their physical infrastructure to a carrier neutral, cloud enabled data center with expert technicians allows FinTech companies to focus their key differentiators in the marketplace. With colocation and the cloud, the IT budget, while once thought of as a cost center has evolved into a profit center.
The cost of breach and downtime keep CISOs and CEOs awake at night. From PCI to SOX compliance, security best practices have become law to further enhance consumer peace-of-mind. Compliance is really just the beginning of the security conversations. Multi-factor authentication, encryption, and secure hybrid networking all contribute to robust hybrid security posture.
Speed and Agility
Speed and agility are more crucial today than ever before. Whether your organization is struggling with connecting team members across the globe or providing key roles with quick access to data, the hybrid cloud provides solutions to help improve application delivery, provide secure connections, and ensure low latency.
When financial institutions have a seamless data experience, they have the ability to collaborate with team members for better innovation and more efficient product roll outs.
System and Data Control
As FinTech and FinServ organizations hold a substantial amount of personal data, it’s crucial for them to have control over the environment in which it’s stored.
With the customizable options the hybrid cloud provides, your organization can be certain that they will have full control over their data and storage environment. For example, some colocation providers feature a neutral approach that lets you use the carrier that’s right for your business, which ultimately helps minimize vendor replacement while maintaining true redundancy.
See How the Hybrid Cloud Can Benefit Your Organization
As financial organizations are often early adopters of new technology and had major data center and hardware investments, the adoption of a hybrid solution was delayed. With the imperative to deliver cost effective, fast and secure workload as scale FinTech companies have more and more let the application define the infrastructure solution.
Every FinTech organization is different. That’s why it’s important to work with an expert partner to migrate and optimize your hybrid cloud environment through strategy, design, and on-going support. Learn more about how the right data partner can help your organization make the most of the hybrid cloud.