The need for Cloud migration assurance in the financial services industry

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The need for Cloud migration assurance in the
financial services industry
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The need for Cloud migration assurance in the
financial services industry

• When Cloud computing started making inroads into
  the industry around 2010, financial services
  firms were skeptical about moving their
  applications to the Cloud. The common reasons
  cited were regulatory restrictions, security
  concerns, and loss of control etc. However, in
  2021, the Cloud has become an integral part of
  the digital strategy of all financial services
  organizations. One Forbes study states
  that about 83 of enterprise workloads are
  on the Cloud by 2020 and will reach 95 by 2022.
  Even regulators like the Financial Industry
  Regulatory Authority (FINRA) have moved 90
  of their data to the Cloud to capture, analyze
  and store a daily influx of 75 billion records.
  There is no better endorsement of the Cloud than
  a regulator moving their data to the Cloud. We
  now have financial institutions born on the Cloud
  and remain fully digital in their operations. 
• How does a hybrid cloud strategy
  benefit financial institutions? 
• Financial institutions are moving to a hybrid
  cloud, enabling them to support a new generation
  of banking services without losing
  their community centered relationship-based
  model. The common drivers of benefits are 
• The ability to plug into emerging financial
  services ecosystems, e.g. Trade finance platforms
  like Marcopolo and Voltran, have emerged as a
  fast-growing ecosystem that traditional banks
  need to plug into to participate in the future of
  business. 
• Reduced time to market for rolling out new
  services or applications and mobile apps, e.g.
  Google Pay, has started to push smaller banks
  time deposits as a threat to large, established
  banks. Such moves need fast counters or, better
  yet, proactive measures from existing banks. 

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The need for Cloud migration assurance in the
financial services industry

• How does a financial institution do the
  much-needed cloud migration yet not be distracted
  from its core business?
• A valuable solution to the above is to engage IT
  service partners with fast and reliable cloud
  migration solutions. A comprehensive migration
  service will ensure the below outcomes
• Optimization of costs based on rightsizing of
  computing resources and infrastructure
• Modernization of the infrastructure for greater
  security
• Ease of accessibility
• Leverage newer technologies to modernize the
  architecture of legal applications
• A comprehensive cloud migration assurance
  strategy covering infrastructure, applications,
  and data is essential to ensure the outcomes
  listed above.
• The common attributes of a comprehensive Cloud
  migration assurance strategy?
• Infrastructure assurance
• Application assurance
• Data Assurance

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The need for Cloud migration assurance in the
financial services industry

Cignitis Cloud Migration Assurance services
comprises pre-migration advisory, Migration
assurance and post-migration validation. We have
the Cloud Assurance Platform (CLAP) built on top
of our AI-enabled quality engineering platform,
BlueSwan, which will provide comprehensive
testing services across the migration lifecycle.
Our Cloud assurance solution, Independent
testing services, early warning signals, and deep
BFSI domain knowledge in understanding business
processes and requirements across the industry
helps us create value-added solutions. Cignitis
CLAP Platform, automated reusable test scripts,
and automated test approach are our key technical
differentiators. Cignitis Cloud Migration
Assurance Services can help you get the best out
of your Cloud transition. Schedule a discussion
with us to consult with our experienced team of
cloud migration assurance experts Read Full Blog
at https//www.cigniti.com/blog/cloud-migration-
assurance-financial-services
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