Banking on the Cloud
Innovation at the Intersection of Speed and Compliance
“Banking and capital markets leaders increasingly recognize that cloud is more than a technology; it is a destination for banks and other financial services firms to store data and applications and access advanced software applications via the internet.” – Deloitte, “Cloud computing: More than just a CIO conversation”
Legacy compliance solutions for capturing, archiving and supervising communications were set up for on-premise data storage, built to monitor company emails – and not much else. But holding on to legacy technology and outdated compliance practices is risky in today’s multi-modal, hybrid work environment. Especially when regulators are expecting compliance across channels.
Cloud-based compliance and risk management technology provides the scalability and performance to solve the problems of today and tomorrow. Bottom line, the cloud is a long-term investment in a firm’s business.
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In this brief, we recap a recent discussion with industry experts about the cost benefits of the public cloud, common causes of apprehension to cloud adoption, and best practices for reinforcing compliance and risk management at scale, with the cloud.