Data migration: Storing financial assets in the cloud

As little as just a decade ago, financial institutions stored their important files and data very differently. While digital files have been around and widely utilized for a while, many banks, credit unions and other establishments are just beginning to scratch the surface of cloud storage. With this technology, towering piles of data files are a thing of the past, as cloud storage opens up new doors for keeping important financial information while making it available to those who need it.

Things to consider
There are several factors to take into consideration when storing sensitive financial data in the cloud. According to CloudTweaks, some users have security concerns when moving assets to this storage method. While data protection is an important aspect to examine, many users do not realize the level of support and protection that is needed with a cloud storage solution. Monetary-based establishments that need extra help with their configuration can use a managed service provider, since these firms are experts in data storage and protection, offering customers a strong level of support in this arena.

Additionally, banking establishments moving to cloud storage should consider integrating this data with their existing storage solution. This way, systems run smoothly, utilizing the most up-to-date information from all data sources. CloudTweaks suggested using an integrated server solution, which allows customers to entwine data storage solutions for a unified system. Additionally, an integrated solution also allows businesses to begin using services like virtual desktops, which enables employees to access data from a variety of locations.

Benefits of cloud storage
In addition to the above mentioned aspects, financial institutions should also think about the benefits available through a cloud storage system. Such technology can promote data protection measures, including redundancy. Businesses can store data in the cloud as well as on location, ensuring that the information is always accessible. Furthermore, administrators can easily scale their cloud services to allow for more or less storage when needed. This not only offers a beneficial level of flexibility, it can also help cut costs as these establishments need not pay for storage they do not utilize.

The ability to access information in the cloud also creates new opportunities for mobile employee capabilities as well. Many companies now permit their workers to operate outside the office – either from home, from a client’s office or another location. Cloud storage solutions can only help improve this practice, as employees have the ability to access the cloud to view or share documents and files securely, according to The Washington Times.

Financial institutions seeking to reap the benefits of the cloud can count on the expertise of FlexITy, one of the most trusted managed IT service providers in Canada. FlexITy utilizes top practice processes and methodologies to offer best-in-class services to its customers in every industry. Before implementing a new solution within an organization, FlexITy thoroughly analyzes the existing IT infrastructure to ensure new systems are properly integrated and exceed performance expectations while keeping in step with current workflow. Solutions from FlexITy are seamlessly deployed and create a unified platform within the organization’s IT infrastructure.