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Cloud computing isn’t new to financial services anymore, but there can still be some growing pains. FST Master of Ceremonies Carla Curtsinger shares some advice from industry experts that may smooth your organization’s transition to the cloud.
I think we can all agree — cloud computing isn’t ‘new’ anymore.
Tech companies may have led the way into the cloud, but financial services organizations are actively making the switch. In fact, a 2015 cloud security alliance study found that 61 percent of banks and credit unions are developing a cloud strategy for their organizations.
The convenience, efficiency and cost savings are hard to dispute.
But industry experts caution that companies are making some common mistakes when they move to cloud storage.
Chief among them is not giving enough thought to what happens after the pilot program ends. If your organization does not develop a clear criteria for success or failure, you might be tempted to abandon the cloud without realizing how it could benefit your company’s long-term strategy.
Set objective and measurable goals for your cloud pilot so you can present a compelling case for expansion into full production. Then set a thoughtful time frame for which applications will move into the cloud when.
Making your move to the cloud is a smart decision. And with the right research and a robust infrastructure, it can help take your banking services to the next level.
There will be people and financial services organizations at all stages of their journey to the cloud at the f-s-t summit… should be a great conversation!
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