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Despite the steer promise of cloud security solutions, less than 40% of the banks and corporates advocate they are attaining the full expected value for their cloud investments. Compliance and security governance weaknesses inevitably challenge Chief Information Security Officers to drive resilience on any cloud-first journey. ECS Fin’s cloud solutions prove how secure and transparent the cloud enables business outcomes.
There is no denying the fact that the global economy is witnessing the break-neck evolution to improve efficiency, security, elasticity, and innovation. At the top of the list are – Cloud initiatives. We did a short survey where we interviewed financial institutions, organizations, and IT executives to identify and position the barriers to their cloud adoption effects. After all, the road to the cloud’s transformational advantages is complex- incorporating a multitude of dimensions- technology, skills enhancement, agile business processes, organizational designs, and robust strategy. The barrier noted most frequently by all the respondents was “security and compliance risk” (46%). The next noted barriers were application sprawl and misalignment between the business operations and IT suppliers. After examining all the results, we concluded that these values are the fundamental requirement to cloud success and yet appear to be a challenge for many organizations.
Cloud security enables better business outcomes by being:
Implement proactive controls to prevent malicious or accidental security incidents.
Automated security via a reputable cloud security service provider allows for a much faster response time than traditional security frameworks.
Apply self-healing and automation processes to break the resourcing model of adding headcount and reduce manual steps in order to enable the organization to grow at scale.
Organizations can access and utilize the entire range of IMS products and services without investing in expensive infrastructure, license fees, implementation costs, and time to broaden their product scope and market opportunities.
Check the compliance aspects of messages against any number of sanctions lists.
Under the ECS Cloud regime, corporates and banks can unlock actionable insights for intelligent business decisions by opting complete securities processing and supporting services of an Investment Manager or Hedge Fund company.
FI and corporates can opt to design and deploy base security controls with the ultimate objective of creating a secure landing zone on the cloud platform.
More than 50% of ECS Fin applications are in the public cloud