The adoption of Cloud Technology is witnessed in many industries and domains. In comparison to other major industries, the adoption of cloud technologies in fintech has been quite slow. To cope up with the growing competition, now fintech is also switching from now experimentation to implementation.
A recent study revealed that nearly 87% of global IT specialists believe that pandemic is leading organizations towards the cloud. But there are many cloud platforms available in the market so this makes it more difficult for Fintech owners to finalize the best one out of so many options. And if you are among the same then this blog from a leading fintech app Development Company i.e. B2C Info Solutions provides relevant information that would help you to finalize the platform for your fintech business.
Cloud is the future of Fintech Business
The debate to adopt advanced technologies in fintech is never going to end. But Covid-19 pandemic had left decision-makers with no option. They need to move fast forward and adopt the technologies for ultimate survival.
Today, fintech is rapidly adopting cloud technologies for their endless benefits and usages.
Adoption of Cloud Services in the Fintech Industry
Like any other sector, fintech soon realized that they need to be agile so that they can future-ready. Cloud Computing is no longer confined to cloud-based platforms but it also paves the way for the fintech industry in various aspects such as:
What are some perks of cloud computing for Fintech Business?
Adapting to any new technology is not easy that seems, and improper execution enhances the risks and challenges. But moving to the cloud is way better than not doing anything. But it can be a great option for the future. Here are some key benefits for Fintech Business:
How Cloud Technology is transforming Fintech Industry?
Cloud is the future of fintech, how we can say that. Here are some points that will support this statement.
The fintech statistics is too complex which is shared worldwide. Cloud technologies allow fintech firms to store and manage data in a safe and secure way. Not only has that AI (Artificial intelligence) enabled from fraud segments also.
According to a recent report, around 42 percent of financial services firms lack the capability to provide data security making it a major concern. Cloud technologies provide the same level of security as traditional models if gets properly implemented.
Seamless Cloud Migration
Some companies opt for a hybrid model allowing the existing technologies and methodologies to collaborate seamlessly, while few opt for the cloud to deploy sandboxes to enhance the customer experience of new services.
Decreased overall Maintenance cost
Cloud technologies owned by third-party service providers reduce overall operational and implementation costs associated with server or data management plus security. Cloud technologies have now become a key for businesses located worldwide.
Which is the best cloud platform for Fintech?
AWS for fintech. Why?
Fintech has the added advantage of building cutting-edge technologies such as the cloud as they do possess any legacy system. Already many fintech enterprises are leveraging the benefits of the AWS Platform, due to low operational costs and several other benefits mentioned above.
If you are planning to move on the cloud platform then here are the top three reasons why you should finalize AWS.
With such impeccable qualities along with comprehensive software development lifecycle support right from development to deployment, AWS is a perfect match for all your cloud needs.
To know more insights about AWS connect with our experts at email@example.com.