By Kaeb Mils
With several applications used in everyday life, it is important to make correct use of them and learn about their proper usage. The banking cloud is a service that shapes businesses’ digital and financial future by adopting a crucial yet successful cloud. It is the foundational element and also among the latest technologies that are helping in the empowerment of businesses. Besides, the entire workload can be run within a cloud and works towards a steady growth of a business. Therefore, it is an attractive service for all financial institutions and works following the clients’ market trends.
Is it useful?
The banking cloud system is used by more than 40% of consumers to enhance the banks’ digital sector. With most of the banks turning to cloud services, it is a useful asset that can transform the whole banking experience, further providing quick customer service and reshaping the entire business model. The company provides end to end solutions on almost every cloud platform and can even be deployed to the one that the customer likes.
What is offered?
The Bank-in-a-box service in partnership with cloud4c is a leading banking service that provides full accountability when logging in with the SLA. The cloud service aligns all the demands of the clients related to security, availability, compliance and flexibility to allow banks to launch all their products and services much faster and accelerate the whole banking experience. Anything from core banking, LMS setup to deployment of new channels for banking is done in this cloud service, making the entire journey seamless and a better option than any other service. In addition, the banking cloud service has adopted many new technologies like Artificial Intelligence, BlockChain etc., to fulfil all the required IT needs of a bank.
How does the process work?
The banking cloud service works in the following manner:
- Phase1: assessment for PCI, Regtech and BIB based on the company CIF
- Phase2: to test and dev on the cloud
- Phase3: migration to PCIDSS readiness of all the digital assets to cloud
- Phase4: banking with the hybrid cloud along with DRAAS
- Phase5: migration to core banking with all the regulatory readiness
Besides, a migration approach is also followed by using proper methods of lift and shift, app modernization, DB and DC modernization. Thus, the banking cloud is an all-in-one service that delivers a complete solution to all the banking needs and provides an inorganic growth needed by every banking company.
