Managing the Regulatory Burden

Migrating to the cloud has helped with managing the regulatory burden, as it allows IT managers inside of these organizations to make changes quickly, all while keeping data secure.

The financial industry felt the sting of the 2008 financial crash, and many financial institutions are now facing increased regulatory restrictions. To accomodate, banks and other have had to adapt to a new landscape that requires tighter controls and they need to adapt quickly.

Migrating to the cloud has helped with managing the regulatory burden, as it allows IT managers inside of these organizations to make changes quickly, all while keeping data secure.

Some of the benefits of moving to the cloud are as follows:

Enables firms to access large volumes of storage
Offers greater computing power to analyze data
Allows reporting to be achieved more quickly and accurately
Data can be presented in many ways – whether that’s conforming to the Gramm-Leach-Bliley Act (GLBA), also known as the Financial Modernization Act of 1999, the General Data Protection Regulation (GDPR) or any of the other financial regulations
Gives companies the ability to respond quickly to changes in processes
Applications are often cost-effective and easy to upgrade

If you would like more information, download our infographic today! Our cloud experts are also on hand to answer any questions you may have at 833-438-8383.

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