No products in the cart.
- Latest
- Trending
ADVERTISEMENT
In 2026, the Global Data Sphere will generate 221ZB of data. Most of that, 155ZB, comes from the company.
How companies treat their data is critical to its business value
In the financial services industry, which accumulates vast amounts of complex data related to risk, financial, regulatory, and customer information, this data is subject to strict storage and access policies and regulations. As the sector operates under unique demands and conditions, managing this data to extract optimal business value is extremely difficult.
As if managing exponential data growth wasn’t enough of a challenge, the outbreak of the pandemic has forced the financial services industry to adapt to changing expectations and needs of stakeholders, remote and hybrid work. has forced us to accelerate the adoption of new technologies. , supply chain disruptions, etc. As a result, financial regulators and industry oversight boards are pushing financial institutions to use multiple clouds to best meet their changing data storage and management needs.
This change can be an important driver of innovation. Nearly 30% of multi-cloud savvy businesses now use four or more cloud infrastructure providers, a number that more than doubled in his two years, a study revealed . It also created inevitable growing pains. Communicating between different clouds is a challenge, resulting in issues such as data lock-in that ultimately slow down innovation and hinder the business value of data. There are also major concerns about the cost of data retention and data transmission, further limiting our ability to unlock the potential of data. Fortunately, fintech companies can take concrete steps to increase their multi-cloud freedom.
Multicloud freedom is the ability to move data workloads on and off the cloud, and between different clouds, on demand and frictionlessly. It’s the ability to say “no” to the friction that slows down or silos data and prevents insight. Multicloud freedom unlocks a more harmonious ecosystem, enabling data-driven innovation without common data access penalties and unpredictable billing. Those who can successfully operate in a multi-cloud environment can unlock the full potential of their data.
Companies that tightly control data costs and take deliberate steps to accelerate multicloud innovation are the most multicloud mature in terms of business outcomes. This means that the higher the maturity of multicloud, the greater the payoff for your business.
A sound business strategy should include an effective data management plan. Organizations that put data at the core of their operations find immense business advantages over their competitors. Multi-cloud mature organizations practice data-centric strategies, such as choosing storage services that don’t slow down data access or data movement.
Enterprises that rely on various cloud providers need increased security and resilience to minimize weak links. However, a fluent multi-cloud strategy allows these companies to operate knowing they have improved compliance and security. This is a key differentiator for financial services organizations with access to confidential and confidential information.
Fintech organizations can deploy a number of tactics to advance further along the scale of multi-cloud maturity.
Leading enterprises are 12 times more likely to use predictive third-party cloud cost software tools to measure and predict the cost of cloud resources in all deployment decisions. The secret leader deploys is consistent and consistent use of these tools.
Additionally, organizations should consider their deployment criteria. Enterprises must evaluate multiple requirements before deploying an application, including performance, availability, data mobility, APIs, and user network bandwidth. Doing so will ensure that your application provides the expected user experience.
Once the application is live, the IT team should continue to monitor the environment to ensure that requirements and functionality do not change over time. From there, you can prioritize investments in the right cloud management tools and in training your staff to use them.
Investments in automation tools, visualization tools, and cross-environment storage platforms lead to stronger business outcomes. Comprehensive visibility across multi-cloud environments is of paramount importance and requires staff who understand enterprise deployments.
Last but not least, enterprises should automate security operations as much as possible. Organizations with the highest multi-cloud maturity have more than double the number of organizations with less multi-cloud maturity, including monitoring data flow, provisioning and updating end-user permissions, protecting data, and enforcing data security. We are automating the function. average. Reducing manual tasks frees personnel from additional burdens and allows them to focus on tasks that are more urgent or require critical thinking.
Overall, companies with a high degree of multicloud management maturity can significantly improve their reputation, accelerate time to market, and exceed revenue targets. How a company treats data is essential not only to the business value of the data, but also to the company’s reputation.
Organizations that successfully navigate the complexities of multicloud can innovate quickly and efficiently while simplifying business operations. Benefits include improved customer experience, reduced costs, and scalability.
