- Banking on the Cloud
regulatory requirements while enabling growth.
The Banking sector is renowned for the volume, variety and velocity of data it generates, transmits and stores. Given the recent financial crises and the subsequent regulatory pressures, the cost of IT has grown exponentially for not just the banking organisation on the whole but even at divisional levels. Banks are now faced with drastically cutting IT costs, but not at the cost of compromising data security and integrity, which could have reputational, legal, monetary impact. Cloud as a technology option for Data and business processes has gained a credible foothold across several industry sectors including financial services. While capex-opex and data security may be primary drivers, Cloud in the banking context needs to be viewed carefully from several other angles.
Fintellix understands the nuances and intricacies of Cloud and the critical prerequisites of reusability, flexibility and proactivity for a banking product on the Cloud. While the solutions must be holistic in nature (with all moving parts of a particular solution on the Cloud), not all solutions can be moved to cloud, which is why Fintellix has a specific set of Cloud-enabled solutions to help banks comply with rapidly scaling regulatory requirements while enabling growth using analytics. Since, the same solution caters to the needs of multiple clients, Fintellix products are 'cloud-standardised', though allowing customisations to address specific client requirements. Moreover, Fintellix cloud solutions are 'proactive' as they analyze, communicate and implement changes in the regulatory regime to the existing product. Also, since data resides on the Fintellix Cloud, the same platform can be leveraged for future requirements envisaged by the bank. From Analytics for Growth to Risk Management to Regulatory Compliance, Fintellix's proven methodology makes migrating to the Cloud a breeze.