Leveraging Cloud Technologies to Advance Your Bank's IT Performance

By Scott Alldridge, Chief Executive Officer, IP Services

Today, disruption, change, and competition makes up the new paradigm for banks. Not only are financial institutions being squeezed by growing costs and continued margin pressure, agile financial competitors are driving an imperative for banks to also become more agile so they can offer more compelling services to clients.

To expand their reach and streamline their digital strategies, banks are looking for new ways to be more flexible, adapt to new markets and tap into pools of innovation across the fintech ecosystem.

Cloud has become mainstream in banking, and most banks are searching for the optimal mix of traditional IT, public and private clouds. However, high performing banks are counting on an enterprise-wide private and highly secure hybrid cloud strategy to stay on top.

With a well-designed private and secure hybrid cloud, banks have the flexibility and benefits of both private and public cloud while addressing data security, governance, and compliance.

Reduced Costs

Hybrid cloud helps banks manage costs with greater flexibility by facilitating a switch from fixed to variable expenses. This shift allows banks to focus on funding business initiatives rather than tying up investment in under-utilized capital equipment. In addition, ongoing maintenance costs are reduced, and server upgrades and capital requirements are virtually eliminated.

Improved Operational Efficiency

Hybrid cloud enables banks to quickly provision resources as the need to scale arises, thus enabling them to provide solutions for business problems faster. This can greatly reduce the time spent on problem-solving while enhancing the agility of banks in response to constantly shifting market demands.

IP Services, based in Oregon, has been serving the banking community for over 10 years and understands their unique requirements. This is evidenced by their deep understanding of FFIEC regulatory requirements and how they have worked with auditors to meet requirements.

With this intellectual capital, IP Services has designed a highly scalable and secure Private Hybrid Cloud Solution just for banks. To learn more, visit https://ipservices.com/services/cloud-management.

IP Services is a WBA PROS Endorsed Vendor.