Fintech services are seeing an increasing adoption of hybrid cloud infrastructure reducing the footprint and size of traditional data centers. Cloud adoption rate in mortgage industry is low compared to other fintech domains.Hybrid cloud computing for Mortgage Industry deliver all the benefits of cloud computing like flexibility, scalability, and cost efficiencies with the lowest possible risk of data exposure.
Benefits of Hybrid Cloud:
- Interoperability between cloud types.
- App mobility between cloud types.
- Consolidation of cloud management and operations.
- Seamless management and distribution of data and analytics consistently across the on-premises environment and the cloud.
- Hybrid cloud is an alternative to a purely private cloud which is expensive to scale and adopt according to business needs.
Challenges in cloud governance in hybrid cloud:
- Inadequate visibility across cloud boundaries.
- Ensuring security compliance and data privacy.
- Migration Complexity and interoperability.
Essential functionalities required for Hybrid cloud computing solutions
- Data Access: Protection against unauthorized access to the resources and including conditional access and identity protection, without compromising productivity.
- Deployment: Addresses latency and connectivity requirements while building, testing, and deploying applications across the hybrid environment
- Analytics: Collecting, analyzing, and managing data to enable proactive insights
- Data Integration: Seamless integration and support for incremental adoption and tool interoperability of new technology across different cloud environments.
- Data Security: Secure workloads running on-premises and in other clouds from cyber threats, detect and defend against advanced threats and automate security workflows.
- Compliance: Establish standards and continually monitor compliance to deliver enterprise-wide governance and regulatory compliance.
Hybrid cloud management for mortgage industry:
- Mortgage industry need to standardize their operations across various cloud boundaries to avoid complexity.
- There needs to be visibility into performance across private and public clouds.
- For cost optimization, mortgage banks need to have a fine-grained analysis using ML algorithms to identify cost drivers and eliminate unused resources.
- Automated security compliance checks based on cloud best practices to provide optimization, visibility, and control over cloud security.
- Automated audit check can validate compliance with changing regulatory requirements as well.
- Policy based automation of cloud resources can fix vulnerabilities in real time and drive deep cost savings.
- Mortgage banks can run big data analytics using highly scalable public cloud resources, while also using a private cloud to ensure data security and keeping sensitive data within the on-premises environment.
Looking for more information on Cloud Adoption in Mortgage Industry or need help in implementing the right technology, leave us a message.
