March 30, 2018
In the past, cloud computing posed risks to companies that housed sensitive information. Banks and financial institutions may have raised their eyebrows at the thought of storing customer and proprietary information in the cloud. However, with increasing security measures and the current pace of business, migrating to the cloud is now status quo.
Pivoting Views on the Cloud
Fintech is a rapidly evolving field presenting incredible opportunities for the best innovators. The pace of innovation requires these companies operate in the cloud. In the past, technological innovation in the finance space focused on improving internal processes to boost efficiencies. With the adoption of the smartphone, these efforts quickly pivoted to focus on the customer experience.
Changes on Innovation Focus
With the focus turning to the customer experience, financial institutions will need to innovate at the pace of changing consumer preferences and habits. Data housed in on- premise servers exclusively will create barriers and bottlenecks to delivering those technologies.
Advantages for Fintech in the Cloud
Fintech companies are leveraging the cloud for a multitude of reasons. First, companies that thrive on the pace of innovation require agility that the cloud allows for. Once in the cloud, these companies can manage big data with flexibility and speed. Cloud computing also makes it easier for fintech companies to utilize machine learning for activities such as credit scoring, lending and fraud detection. With more SaaS companies earning financial compliance credentials, we’re seeing increased partnerships between financial services providers and tech companies.
Move to the Cloud with Attunix
The data center of yesteryear is not enough for today’s digital business. One of the biggest drivers is the speed in which companies are leveraging the cloud to out-pace or work-around traditional ways of doing business. At Attunix, we help our clients migrate their data centers to Microsoft Azure. Our process simultaneously completes the migration while minimizing downtime.