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03 Oct 2017

How cloud and data centre technologies will evolve in the finance sector

Looking at the way in which cloud solutions can be applied in financial infrastructures, Perpignand notes that there are numerous avenues for deployment. Whether through larger bank-wide initiatives, small ad-hoc business projects or solely as an infrastructure hosting program, he argues that cloud solutions are suitable under many guises in financial institutions.

Each of these options has its pros and cons but, suggests Perpignand, one thing is certain: financial services institutions will need to adopt cloud solutions in order to remain competitive and keep infrastructure costs down. Many are already moving towards adopting cloud solutions ? both public and private.

There are many advantages of cloud adoption in this market, but two that Perpignand highlights are the reduced cost of infrastructure and improved time to market. Cost is always a factor, irrespective of the strategy, but cloud implementations provide the capability to quickly spin up or shut down environments when required, as opposed to constantly running and consuming rack space and power.

It is also necessary to consider the time it takes to purchase, rack, stack and provision systems for developers; those leveraging cloud solutions are able to perform the same in minutes as opposed to weeks or in some cases months. Perpignand believes that this is a significant benefit as it increases productivity and offers IT departments the ability to add value to the business as opposed to chasing status or raising tickets.

 

THE FUTURE OF TECH IN FINANCE

Perpignand predicts that financial institutions will embrace a model of leasing data centre space from enterprise data centre service providers and move away from the traditional model of owning data centres. A combined strategy of leasing data centre space and leveraging cloud solutions will result in significant cost savings for the institution as they will no longer need to pay for unused rack and power utilization.

> Click here to know more about Perpignand's thoughts on the future of tech in finance as well as the way to tackle large-scale change

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