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Cloud computing in the financial services industry increasingly widespread

When it comes to the public cloud, the financial services industry has been avoided。
Not to say that the financial services industry are reluctant to accept new technology。 Of course, the financial sector in mid-1969 on the launch of automated teller machines, and to promote the widespread use of today's mobile payments。 Financial institutions are cautious about emerging technology applications, which can make people understand。 On data privacy and security in terms of financial services is subject to the most stringent regulatory review of the industry and often one。
Many of their compliance with laws and regulations, including the Dodd – Frank, FFIEC, PCIDSS, GLBA, SOX, as well as the USA Patriot Act, not to mention the imminent implementation of regulations GDPR。
With more increases, the financial services industry gradually began to adopt。 In fact, according to a 2017 survey, 72% of US financial institutions finance executives said they will use future solutions or plan to do so based on cloud computing, which is an increase from the 2016 survey 62%。 Research firm Gartner analyst, said that by 2020, nearly 40% of enterprises will use cloud computing system to support more than half of the transactions。 More and more a means of survival of financial services companies are adopting cloud computing as a means of survival。
Like companies in other industries, like financial services company if you want to continue to better conduct business, it must be digital transition。
They must take advantage of a wide range of data analysis and artificial intelligence tools to help them gather customer insight to drive innovation and bring new market opportunities。
They must be implemented on-demand, easy to use service to meet their customers' needs。
They must change the delivery of customer relationship management strategies and approaches to drive customer acquisition and retention。 They must use and support productivity, social networking, collaboration and unified communications tools that enable their employees no matter where, no matter what equipment to use, can work effectively。
Work in the cloud financial services companies have seen the results, and heard praise from other IT industry leaders, including the medical industry and other highly regulated industries。 They've done some research, and know that cloud computing control measures are necessary to ensure data integrity, compliance and availability。 They also realized that cloud providers need to conduct their business in the cloud, and is taking additional measures to support and understand their unique needs。 The infrastructure management outsourcing to cloud computing service providers can help reduce the burden on those organizations must establish and maintain their own data centers or hardware configuration。
Cloud computing solutions can be used to automate human tasks so that employees can focus on more value-added services。
In response to a service provider cloud computing in recent years, AWS cloud computing company to promote its services to the financial and insurance industries。 At present, its clients include Capital One, FINRA, NASDAQ, Pacific Life Insurance and other financial institutions。
Microsoft Azure and Google also provides services for a number of financial services companies。 Cloud computing service provider (CSP) now understand the concerns and demands of these financial institutions, and accordingly to tailor the cloud computing products。 They invest in leading security, data privacy and implemented best practices, such as file and volume-level static data encryption, secure key management and access control。
In most cases, they provide a level of security protection, and most companies lack the expertise or resources to implement and manage their own。
Some companies have also taken additional steps to achieve HIPAA compliance and PCIDSS。
So that they do meet the stringent security requirements, so that their customers can take advantage of security protocols to meet their compliance requirements。 Strategy and the importance of AWS services, Microsoft, Google and other major cloud computing provider compared to cater to mid-market business needs thoughtful cloud service provider (CSP) to provide personalized financial services to its customers service, allowing users to more peace of mind, and return on investment (ROI)。
For example, some cloud service provider (CSP) is not launched engineers across the board, but efforts to understand the customer's current IT environment as well as their short-term and long-term goals。 This approach allows them to help clients develop IT strategies to consider and optimize current IT investments and existing systems。 It can help these customers achieve more streamlined operations and more focus on the core business and enable them in the most effective way to use technology, while meeting compliance requirements。 Take action now is the financial services industry manufacturers to harness the power of cloud computing to achieve this all the time。
Today, these companies already have more market opportunities and technical capabilities, and better compliance with data privacy and security protocols。