Cloud

How the Cloud Can Help the FinTech Industry Thrive

FinTechOver the past ten years, we have witnessed a major e-commerce boom. This thriving industry created the need for ecosystem relationship management, or ERM, boosting a healthy ecosystem of start-up tech suppliers to serve several industries with online transactions.

Financial technology, or FinTech for short, is what makes these types of financial services possible online. Services like Apple Pay, Google Wallet, and PayPal allow customers to securely use credit cards to make online purchases, and FinTech services help companies better manage financial transactions as well as broad financial aspects of their business.

With the FinTech industry growing every day, there is a pressing need for secure and reliable hosting service providers. Cloud hosting makes this possible by being available for FinTech companies to ensure protected and instant transactions for every customer.

 

Choosing the Appropriate Hosting Option

It is neither a secret nor a surprise that the financial services industry is one of the most regulated industries in the world. Early on, a lot of companies were reluctant to choose third-party providers or transition to the cloud primarily because of the unique traits each company presents in terms of its hosting needs.

The stringent regulations placed upon the industry by the Financial Conduct Authority were also once a prime barrier for FinTech companies, although now the FCA encourages firms to take advantage of clouds and the beneficial opportunities they provide.

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Use MSPs to Maximize and Manage Your SaaS Solutions

managed service providerBetween 2017 and 2022, the managed services industry is predicted to grow from USD $152.45 billion to $257.84 billion, representing a compound annual growth rate of over 11 percent. Within the managed services market shines cloud-based technology, representing the fastest growing deployment type.

Cloud-based systems are expected to show the biggest CAGR over the next four years due to limited IT support for managing services, budgets needed for installing and implementing hardware and software to keep systems functioning properly, and the need for greater scalability. Without a doubt, cloud-based deployment models offer far greater scalability and agility than many on-premise alternatives.

Numerous startups and SMEs lack in-house capabilities and CAPEX to maintain complex infrastructures. Instead, these businesses rely on managed service providers (MSPs) to cater to their IT infrastructures and make sure they operate smoothly. BFSI and government institutions are also emphasizing the need to go digital in order to improve their overall operational efficiency. The adoption of the digital mode by so many businesses has increased the use of MSPs throughout the region.

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3 Ways to Safeguard Your Company From a Ransomware Attack

ransomware attackRansomware attacks have been around for decades, and they continue to wreak havoc on systems around the world.

However, gone are the days when biologists spread the ransomware attack PC Cyborg through floppy disks to innocent victims. Attacks have gotten bigger and more dangerous; we are now all too familiar with attacks like Osiris, CryptoLocker, and WannaCry, which collectively infected hundreds of thousands of computers in over 100 countries, costing millions of dollars in damage.

Ransomware attacks continue to be an issue due to the continual development of new techniques for infecting systems. We have seen a major increase in occurrences over the last few years, resulting in the constant development of techniques used to safeguard systems against these intrusive attacks.

 

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On-Premise vs. Cloud Hosting: Which Option Is Right for Your Business?

cloud hostingOn-site hosting has traditionally been viewed as a safe option for both storing and processing data.  It ensures you, the owner, remain in sole control of all the hardware. The owner retains the ability to choose what hardware (& software) best suits their needs along with the notion that security managed locally is safer managed on-premise, rather than off-site.

On-premise hosting offers several benefits; however, choosing this route is typically a more expensive option when compared to an infrastructure-as-a-service model (OPEX vs CAPEX). Given the requirement for software licenses, in-house IT support and usually a longer integration period, more companies are finding that cloud services could offer a more flexible way to tackle their IT infrastructure needs, if the correct (hybrid) model is chosen.

Although on-premise hosting is a reliable means for hosting all kinds of information, many companies are finding cloud services to be more convenient, flexible, cost-efficient, and secure than ever before & also include additional features and advantages.

The Advancements in Cloud Infrastructure Technology

The use of cloud servers is increasing, which is a trend that is expected to continue. A year ago, research company IDC found the number of traditional data centers accounted for 62 percent of IT infrastructure spending. Public clouds made up 23 percent of spending and private clouds composed 15 percent. These numbers are predicted to shift by 2020, as IDC estimates data centers will drop to around 50 percent of total spending, while public clouds flourish to nearly a third of the market and private clouds will increase to 20 percent.

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5 Tips for Staying in Compliance With the GDPR

GDPR complianceThe General Data Protection Regulation (GDPR) is one of the most sweeping corporate regulations coming down the pipeline. The measure was adopted by the European Commission and is set to go into effect May 25, 2018, and its purpose is to standardize rules for data collection, storage, and use, and then apply those rules across the European Union.

Abiding by the size and scope of GDPR rules is proving to be a challenge, particularly on such a short timeline. Companies of all sizes and across industries are scrambling to catch up, and much of their focus in on securing the cloud technologies that now house the lion’s share of data.

A study of preparedness highlights just how many companies are lagging behind. Only 1 percent of cloud providers managed data in a way that complies with stricter GDPR standards. The most common deficiencies had to do encryption keys and secure password enforcement. Slightly better are the 7.2 percent of cloud providers with adequate SAML integration support, but this does not change the fact that the vast majority of companies cannot comply with the GDPR.

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15 Business Problems That Can Be Solved By Moving to the Cloud

cloud computing technologyAccording to a recent Intel Security report, 93 percent of a sample of 1,400 IT security professionals claim that they use some type of (hybrid) Public / Private cloud service for their business operations. The cloud is rapidly becoming a popular resource for businesses from all backgrounds, and for good reason.

If your organization hasn’t yet tapped into the power of the cloud, here are some detailed benefits of (hybrid) cloud computing technology that are worth considering.

1. Importance of data and where it is stored (GDPR)

Your business should have a clear concept of the value (and sensitive nature) of the data that is critical for operations. The inherent need to undertake efforts to assess risks and costs involved with current data storage practices is real (GDPR). Especially in an international business organization, deciding where to house data is a complex question that is largely determined by how that data will be utilized.

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Advantages of Adopting a Cloud Solution in a Post-Brexit World

cloud solutionThe UK doesn’t officially exit the European Union until 11 p.m. (UK time) on March 29, 2019, and a two-year transition will follow the exit to ensure that businesses have ample time to adapt to new policies. The management of enterprise data in the cloud will no doubt be one of the areas impacted, and IT decision makers will need to formulate a plan to deal with the uncertainty in a post-Brexit world.

Small- and medium-sized enterprises (SMEs) are seen by many as the foundation of the British economy. Besides making up more than 99 percent of firms in the private sector, according to the Federation of Small Businesses, they also employ 60 percent of the total private sector workforce. Since 2010, SMEs have been responsible for the creation of around two million jobs, and they comprise 73 percent of private sector job creation in the UK.

In “The Economic Consequences of the Brexit Vote,” authors Born, Müller, Schularick, and Sedláček postulate that the magnitude of uncertainty surrounding the decision and the fact that many policies are as yet unknown will contribute to a negative impact on the UK economy. In a study from the University of St. Andrews on the future strategic plans of 10,000 SMEs, the results indicated that business leaders expect to suffer from reduced levels of investment, less access to financing, and an overall lower level of growth. Sixteen percent of SMEs responded that the Brexit decision would present a significant obstacle to their business growth.

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How Your Business Could Benefit From Adopting Hybrid Cloud Solutions

hybrid cloud solutionsOver the last few years, we have seen a significant increase in adoption of cloud computing technology. These patterns demonstrate a great opportunity for innovation amongst businesses, especially those looking for more flexible and secure infrastructure solutions, which can be found in hybrid cloud solutions.

Analyst firm Gartner found that cloud computing ranks among the highest on its disruption scale and has become a $246.8 billion industry as of 2017.  These services will only continue to grow in popularity and will act as a necessary enabler for future disruptions.

Although some businesses remain skeptical of cloud computing, the infrastructure has proven to enhance or replace all parts of a business’s IT environment while promoting improved efficiency, the opportunity for expansion, and greater flexibility.

Hybrid cloud solutions work by combining both public and private cloud infrastructures, providing greater flexibility for companies that are looking for hosting resources and as well as the ability to run classified applications privately while maintaining SaaS and IaaS on a public cloud.

Besides increased flexibility, there are a few other notable benefits of hybrid cloud solutions include:

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Top Predictions for the Cloud Industry in 2018

cloud industry in 2018The cloud has gone from being somewhat of a novelty to an essential part of doing business today. As of 2017, almost 80 percent of companies are running some form of workload in either a public or private cloud. It’s unlikely that this trend of growth will abate anytime soon, and the decline in data center development supports this assessment.

Currently, data centers make up 62 percent of IT spending according to research firm IDC, while public and private cloud spending combined accounts for the other 38 percent of the market. By 2020, however, cloud spending is expected to rival data center spending — meaning the cloud is becoming more popular while data centers are declining in popularity.

It’s relatively easy to discern that the cloud is going to continue gaining momentum. Making predictions about what’s on the horizon is a bit more complicated, but by looking at current trends, we can determine certain characteristics that will prove critical to the cloud industry in 2018.

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Is Your Website Ready for Holiday Season Traffic?

load timesThe 2017 festive shopping season promises to be one of the biggest ever, particularly for online retailers. Total sales are projected to grow by 16.6 percent over last year, with online sales comprising 11.5 percent of all holiday shopping.

The period before, during, and after the holiday season is a huge sales opportunity for you. But if your e-commerce website is not ready for the influx of traffic, it can be a lost opportunity. Slow load times, broken links, and a poor user experience are unacceptable to shoppers expecting to find greater convenience and selection by going online.

Websites that cannot handle the surge in traffic immediately lose on sales. Worse, they damage the reputation of the brand and disappoint customers who may have otherwise become loyal fans. Optimising your website to accommodate more traffic is a sound goal for both the short and long term, and there are a few great strategies to keep in mind for getting your website ready:

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