ENTERPRISE | IN FOCUS Harish Menon maildqindia@cybermedia.co.in Cashing in on the Cloud It is essential that the BFSI sector, as a whole, looks carefully at identifying, procuring and aligning the right type of cloud performance and security solutions GROWING THE MONEY TREE In todays world, where more and more applications, portals, and services are moving online, it is clear that the sector is reaching the tipping point where the public internet or the public cloud will play a larger role in their infrastructure and delivery stack. But this also means that soon they will face even greater challenges in terms of internal/external performance, service availability for customers, visibility of data transactions and security, in degrees, which has hitherto never been dealt with. T he Indian Banking, Financial Services and Insur- ance (BFSI) sector is going through a paradigm shift, where the public internet is becoming a ma- jor integrated part of the existing Information Technology (IT) infrastructure stack. While many nancial institutions have made this transition, there are still a handful of them that continue to resist this initiative. Their prime concerns are most often centered on performance availability and security. Though these are valid reasons, there are unpar- alleled gains in adopting the internet for business. 66 | October 15, 2013 www.dqindia.com A CyberMedia Publication | The direct benet of moving to the public cloud is that this will allow these companies end users to experience convenient, manageable and informative services online as well as ofine. And with the right cloud optimization service running in the background, it will help optimize internet connections, extend the reach of data center infrastructure, as well as balance trafc between multiple cloud data centers, thus ensuring 100% application availability, while also providing unparalleled visibility into the usage of data. With mobile optimization services as part of the cloud optimization solutions, there will be greater focus on newer growth areas like m-Banking, m-Trading, and enterprise mobility. It would also positively raise the level of performance and security in sensitive areas such as trading, commercial banking, currency and equity exchanges. Specically related to trading, cloud optimization solutions have the potential to offer a further increase in Daily Average Revenue from Trades (DART), due to enhanced performance on the trading Web portals.
SELECTING THE RIGHT ROUTE It is essential that the BFSI sector as a whole looks carefully at identifying, procuring and aligning the right type of cloud performance and security solutions for any type of application delivery, ie, retail banking, trading, marketing sites, etc. They need to be watchful, while implementing cloud-based solutions to ensure they are aligned to its core business as well as the regulatory and technology goals of the nancial services industry. This is paramount, as although various mainstream cloud solutions offer signicant process acceleration and enhanced performance, they may not be an appropriate t. Their value may be limited towards providing only short-term benets which is not one of the values that the nancial sector appreciates or veers towards. Also, limited value may more than likely have an adverse impact WITH MOBILE OPTIMIZATION SERVICES AS PART OF THE CLOUD OPTIMIZATION SOLUTIONS, THERE WILL BE GREATER FOCUS ON NEWER GROWTH AREAS LIKE M-BANKING, M-TRADING, AND ENTERPRISE MOBILITY ENTERPRISE | IN FOCUS o Specically related to trading, cloud optimiza- tion solutions have the potential to offer a further increase in Daily Average Revenue from Trades (DART), due to enhanced performance on the trading Web portals o Cloud solutions would help BFSI companies grow their individual organizations in terms of their horizontal and back-ofce processes TAKEAWAYS The author is Product Manager, Asia Pacic & Japan, Akamai Technologies, Inc on the availability of the service and also compliance. An example would be an agile Infrastructure as a service (IaaS) model, which is easy to implement and deploy. In the short run it might save on operating costs and provide IT agility, but in the long run reliability and security maybe affected.
INCREASING INNER WEALTH A further advantage to be reaped by BFSI companies is that cloud solutions would help them grow their individual organizations in terms of their horizontal and back- ofce processes. Today, these processes may include email, internal productivity, internal team collaboration, ie, employees working from home or other locations, knowledge sharing, etc. This will guarantee that their organizational outreach and quality of service being delivered to their end customers is more satisfying. The end result would be the creation of a robust network that is able to ensure adequate and secure data storage, greater departmental collaboration, higher end user value and lower operating costs. Thus, allowing the BFSI sector, as a whole, to cash in on the cloud.
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