Can Cloud be used in the Financial Services Industry?

Compare the Cloud recently presented a webinar with Dell, explaining the intricate details of whether to Cloud, or not to Cloud, when discussing the Financial Services industry.

[easy-tweet tweet=”Catch up on the first webinar on #Financial Services from Dell with @NeilCattermull” user=”comparethecloud”]

The first webcast in the series happening throughout Q1 was titled Dell Cloud Insights for Financial Services Series: Can ‘cloud’ be used by Financial Services? We covered a lot of ground in relation to the financial sector during the webcast, including approaches to omni-channel banking and improving customer experience through a cloud computing foundation.

One of the key things that was discussed was the fact that in the new digital age, banks are not embracing the agility that is needed to stay in business. We also looked at how new FinTech approaches such as mobile payment systems including Apple Pay are affecting the financial giants.

in the new digital age, banks are not embracing the agility that is needed to stay in business

One of my favourite topics to talk around – Security in Financials – was another big focus on the webcast. Security is a huge challenge for most banks, and increasingly private and hybrid cloud models can offer the same if not better security than they currently employ, but with increased agility.

During the webcast participants learned about how updated Cloud models for Financial Services Firms offer better agility, together with best of breed security for a better experience to financial institutions and their customers. As well as approaches to Cloud delivery in banking – Which approach suits regulated entities and why?

Subsequent sessions in the series of webcasts are happening throughout Q1, and Dell will drill into more detail on specific areas such as security and European regulations, with guest speakers known for their experience in these areas.

A short overview of Dell’s Cloud Services solutions and coverage of a recent customer partnership was provided during the webcast. Listed below are some of the questions asked during the session:

  • Migrating legacy systems can mean many things. It is always a good idea to stop, assess, and make the best decision for the bank’s goals and technological maturity level. Otherwise, are they risking moving from “old” legacy to “new” legacy?
  • Concerned that Cloud providers might do their own analytics on my data. Is this a legitimate concern?
  • Can Financial Institutions operate on Public Clouds or should it always be a Private Cloud?
  • What about VAT on different services? And is where the services are performed an issue?

To hear the whole webinar recording and to view the presentation please click here.

There are a 13 webcasts from Dell planned in the series, with the following webcasts scheduled in March and supporting invitations will be distributed via social media tweets to keep the momentum and help build out the community.

Please click on the registration links below for further information:

Mar 02 2016 2:00 pm Understanding the restrictions that regulations actually impose on cloud usage

presented by Frank Jennings, lawyer specialising in cloud and technology, Wallace LLP

Mar 15 2016 2:00 pm Financial Services workloads that make sense in the cloud (case study)
presented by Nick Hyner, director of Cloud Services for EMEA, Dell Services
Mar 22 2016 2:00 pm Can Public Clouds be suitable for traditional / legacy workloads? Jay Hibbin, Evangelist & Sales Director, Century Link
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