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Does some misconception about cloud security hold your company back from capturing the full benefits available? It is time to demystify all the myths and reveal the true facts that facilitate corporates to relish the advantages of deploying data and applications to the cloud.
Undoubtedly, in highly-regulated industries, especially healthcare and financial services, the thought of migrating to the cloud makes people apprehensive about securing data. People have been caught in the spree of myths like putting information in the cloud will aggravate compliance risks, unauthorized access to proprietary data, and even security monitoring issues.
However, the real good news is that cloud security fears are based on myth rather than fact. Cloud bears the stamp of preferred security technology deployment method in the marketplace if adequately used. In order to unveil the truth and make businesses more comfortable managing the cloud-based solution, it is pertinent to dissipate some particularly erroneous cloud computing myths.
Let’s paint those myths and make everyone aware of cloud solution benefits!
Myth: Data is more vulnerable when stored in the cloud.
As companies are more concerned about their data security, many company leaders sometimes encounter significant roadblocks along their way to the cloud. This is why they start questioning the need for cloud solutions for security, costs, data breaches, information hacks, and latency.
Generally, corporates choosing the option of on-premises for storing data and information have to indulge themselves in delivering every path and intimate security update to their internal networks manually.
However, one of the utmost benefits that cloud computing services provide is that it completes the tasks of patching and security monitoring for your business. Cloud application providers and data hosts like Azure or Microsoft add multiple levels of monitoring the cloud data and make the process more secure and reliable for ventures.
Furthermore, cloud solutions frequently firewall external and internal networks to reduce risk and create better security. Therefore, if banks and corporates are defining the correct policies can actually achieve safer operations in their cloud environments than on-premises.
Fact: Define the correct policies, train or hire the right talent, and adopt a secure DevSecOps operating model.
Myth: Greater Latency among applications when deployed on cloud.
Another myth that restricts leaders from investing in cloud solutions is that the deployment to the cloud will increase latency among applications than on in-house networks. However, latency results from the IT department attempting to retrieve its data via in-house data centers.
Routing traffic through internal networks develops extra complexity, poor user experience, and even latency. This process is usually done either by lack of trust with loud security or the urgent need to access critical data or applications that are on-premises data centers.
Though backhauling was the most famous model for perimeter security in 2018, now IT departments need to realize today’s CSP (Cloud solution provider) robust perimeter manoeuvre. So, say goodbye to problems by latency for attaining security. As per the McKinsey IT security survey, by the end of 2021, approximately 80% of cloud users will stop using backhauling models to unleash the power of cloud-enabled analytics while simultaneously solving any latency issues.
Fact: CSP does provide data at optimal speed despite location, content request, and server availability.
Myth: When transiting to the cloud, either focus on entire data centers or applications.
Another common misconception is that an organization can only choose one of these two tangible aspects to migrate on cloud successfully. Usually, organizations bear unappealing scale dynamics when opting for an application-by-application approach. Considering this notion, they continue to pay for on-premises data centers while paying CSPs for hosting a subset of apps. Moving a subset of apps doesn’t lead to business advantages if these apps weigh only one part of a business domain’s portfolio.
Nevertheless, the businesses move an entire data center to the cloud; they are likely to face substantial upfront risk and investment. Instead, corporates should move their business domains to the cloud, such as early-stage discovery, customer onboarding, and consumer payments. By migrating the business domains, corporates can embrace the full range of potential cloud benefits:
In addition to these potential advantages, migrating a business domain is a much smaller lift than moving an entire data center, meaning that risk and investment will be more manageable. ECS Fin cloud solutions work perfectly well for instant onboarding of Corporate Customers. Receive millions of payment instructions through files or other methods, validate, categorize, apply specific business rules for each category or type, transform, enrich and transmit to appropriate banks.
After summing it all up, it seems reasonable to conclude that cloud solutions are way too secure. With the right hosting environment and support, cloud-based applications can provide greater security than on-premise solutions. Customers who prefer to make zero upfront investment can also access and utilize the entire range of IMS products and services.
Cloud services facilitate prospects to utilize the solutions and services offered by ECS instantly. Our solution also holds the pulse to receive and process millions of messages, files, or documents from multiple channels and routes to a widespread network of systems in desired formats and protocols. An offer that is hard to pass up eliminates risks associated with acquiring software applications with unpredictable results.
To discover how we can help you capture the benefits of the cloud.