Major banks, investment houses and insurers are choosing private cloud infrastructure in order to maintain complete access control, physical location security, scalability and deployment speed for critical applications and services.
Clouds have arrived
Cloud computing is now a standard part of the technology stack that enterprises require in order to support and maintain their service offering. The Cloud enables enterprises large and small to develop and implement new and more efficient services, rapidly scale as demand requires and be more cost effective than they would otherwise be if they were leveraging traditional infrastructure. Business and entire industries can be transformed through provision of cloud services regardless of the sector. From banking, finance, research and education to meteorology and aeronautics. Wherever there is a need for flexibility and rapid scaling of storage, compute and containerization, cloud infrastructure can offer a solution.
Cloud deployments in the finance industry have significantly increased over recent years. Increasingly, executives, technology leaders and management boards with interests in the finance sector are leveraging cloud services to drive business transform and scale client services. For many businesses the adoption of cloud technologies has been a critical determinant of growth and has helped to build confidence in the future.
The finance industry is experiencing unprecedented upheaval with bricks and mortar businesses being challenged by digital only startups that don’t require real estate investment to build their business. New, investment opportunities are evolving rapidly with block chain “currencies” and non-fungible tokens (NFT). To respond to these challenges, financial institutions need to innovate and move quickly deploying new products and services to attract new customers and maintain existing ones. All this whilst maintaining data sovereignty and security and minimizing risks and cost.
In response to these demands of faster time to market, tailored solutions, security, cost reduction and efficiency, financial institutions are leveraging cloud services. Today the choice of banks, insurance, and investment companies is for private rather than the public cloud. The annual Enterprise Cloud Index Report commissioned by Nutanix, suggests that this trend will continue with 43% of financial services companies planing to increase their investment in the private cloud through 2020 and beyond.
Private Clouds and Privacy
The most frequently cited reason for financial institutions to deploy services on private cloud rather than public cloud is Data protection and privacy. The advanced level of security available on private clouds, integrated audit trails, highly scalable services for analytics, compute and storage all serve to support the demands of financial sector businesses. With private clouds, all the data resides with the business, and the business has complete control and responsibility for the digital and physical access. It is the businesses data and the businesses business. Why hand it over to the public cloud?
Incarta offers managed private cloud services. Cloud infrastructure managed by Incarta can be located within a financial businesses data centre, the Incarta data centre or can be a hybrid with compute notes and storage located in the businesses data centre and the control nodes within Incarta’s data center. With private cloud, the physical infrastructure can be completely isolated from the Internet while still providing staff with access. The business can have complete control and visibility over its security architecture and can customize its infrastructure to support specific requirements.
Costs
Public clouds have a very low barrier of entry making it easy and low cost to migrate services from traditional infrastructure to the cloud. However, costs escalate rapidly with a confusing mix of disk types, CPU cores and cycles, RAM allocation and network bandwidth as well as numerous incidentals like IP addresses. Although private clouds may have a higher cost of entry, costs fall rapidly as utilization increases. Further, private clouds help to reduce the cost of cyclical workloads common in the financial industry by enabling a rapid increase in compute and subsequent reduction resources as requirements demand. To mitigate the entry cost of private clouds, Incarta has developed costs models for the Incarta managed private cloud that are similar to and in some cases lower than the cost of entry for public cloud services.
When establishing or reviewing a cloud strategy for an organization it is important to consider the future as well as the immediate requirement.
Partnership
By partnering with Incarta as your managed private cloud provider your information technology staff will be able to focus on delivering applications services to your staff and clients. Incarta’s innovative platform-as-a-service enables financial institutions to increase revenue, generation consumer insights, deliver high demand products efficiently, save costs, and monetize data assets. By consolidating data from across the organization onto a private cloud new tools can be leveraged to synchronized workloads, generate advanced analytics and achieve improved levels of data utilisation.
Incarta’s managed private cloud service provides ultra-reliable, zero-downtime operations for secure and stable compute and storage. With Incarta managed private cloud services, businesses can dedicate their time to growing and developing the business rather than managing infrastructure.
