Cloud Infographic: Managing the Regulatory Burden
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.