FINANCIAL INDUSTRY CHALLENGES AND RELEVANT CLOUD BENEFITS

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FINANCIAL INDUSTRY CHALLENGES AND RELEVANT CLOUD BENEFITS

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FINANCIAL INDUSTRY CHALLENGES AND RELEVANT CLOUD BENEFITS

  1. 1. FINANCIAL INDUSTRY CHALLENGES AND RELEVANT CLOUD BENEFITS http://clean-clouds.com Visit Researcher’s Blog - http://clean-clouds.com
  2. 2. 9 SectorsFinancial Services Industry Depositary Financial Intermediation (services offered by ban ks, building societies and credit unions) NonDepositary Financing (companies offering loans and cre dit without deposits, e.g. credit card companies) Central Banking (Reserve Bank) Financial Asset Investing (companies trading stocks, bonds a nd bank deposits) Auxiliary Finance and Investment Services (financial consult ants, stock &mortgage brokers, financial advisors) Superannuation Funds Life Insurance Health and General Insurance Auxiliary Insurance Services (insurance broking) Visit Researcher’s Blog - http://clean-clouds.com
  3. 3. “As Is”Challenges: Need of an Hour:• Persistent pressure on budgets • Innovative & Incremental leads to cost containment and strategies and solutions reduction • Core business and cost• Regulatory Pressures containment without sacrificing• Fierce competition the capability to adapt and• Data is increasingly being respond as the Information regarded as a extremely Technology market evolves. valuable type of asset. • Greater• Diverse technology transparency, information and environment for data analytics; improvements to management that is costly to portfolio management and risk maintain and complex. reduction; and new asset classes, products and services. Visit Researcher’s Blog - http://clean-clouds.com
  4. 4. What is Needed?• The ability to store, process, use and re-use information of all types and from all sources quickly and to make it accessible anywhere from multiple devices• Automated low-maintenance platforms that allow for easy replication• The ability to dramatically drive down processing costs• New approaches to developing tightly integrated systems based on best-of-class components• Increased performance and risk analytics• Proactive “what if” capabilities• Data-rich environment of the dashboard• Dashboards and cloud computing are key ingredients to transforming tomorrow’s vision into reality. And both technologies exist today. Visit Researcher’s Blog - http://clean-clouds.com
  5. 5. What Cloud offer for Financial Industry 3. Enhanced 4. Tighter business security & continuity compliance 2. Higher support levels 5. Greater and guaranteed flexibility SLAs1. CapEx free IT Cloud 6. Availability Computing & mobility. Visit Researcher’s Blog - http://clean-clouds.com
  6. 6. Key Benefits Of Cloud Computing For Financial• Services Adherence to Government regulations• Utilization of cutting-edge data protection technologies• Pay as you Go billing Model• Rich user experience, mobility and move towards unified communications• Volume of information is addressed with enough resources.• Comprehensive back-up procedures and strict access control• Disaster recovery benefits• Community Cloud - compliance with the financial services industry.• Open Market for Competition:• Easy transformational possibilities: Less upheaval in terms of infrastructure integration. Visit Researcher’s Blog - http://clean-clouds.com
  7. 7. Case: Health Care Industry and Cloud Computing Challenges: Cloud Solutions:1. Unique Truth of Customer 1. Feasible to support Master Data data, electronic medical records Management of sensitive data to (EMR) and health information support truth of data. exchanges (HIE). 2. Cloud enables2. Prone to sudden bursts in system businesses, researchers, data usage, due to the seasonal analysts, and developers to easily and fluctuations like influenza or viral or cost-effectively process vast amounts other epidemics of data. Cloud can be a common3. Massive amounts of multimodal data; repository to avoid data redundancy Medical imaging procedures. Large and duplication which utilize NoSQL data volumes and processing needs. databases, and implementation. Scans, X-ray, real-time monitoring 3. Community Clouds and easily information and extensive analysis of accessible public clouds enable the medical conditions. common storage of clinical data from4. Common legal compliance needs various providers. across nations, HIPAA (Health 4. HIPPA Compliance achieved. Cloud Insurance Portability and Federation will support the transfer or Accountability Act), EU Directives. EMR and HIE across multiple clouds. Visit Researcher’s Blog - http://clean-clouds.com
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