Do you know the recent online trend that dominates the financial strategical discussions? It’s none other than the data protection over multi-cloud architecture! Today in this CloudCodes official post, we are going to cover multi-cloud security challenges and suggest financial institutions that how they can overcome them.
Financial institutions are understanding the pros of multi-cloud technology in aspects of flexibility, storage, scalability, and annual savings. According to KPMG, shifting the offline work on cloud storage provides the benefit of 30 to 40 percent of savings in banks. This results in rapid growth of cloud computing technology adoption, specially in financial services companies. They are enforcing multi-cloud strategies with the expectation of adding a redundancy level to their online service usage. This entirely translates the ability to meet clients’ expectation, reduces spending of waste money, and ignore unnecessary lock-in with cloud providers.
Shifting of offline work to the cloud means that financial records are going to be stored on the off-site servers instead of getting stored on traditional storage platform under complete supervision of financial IT team who is responsible for implementing business-based security controls. Valuable kind of data is managed by the financial service companies, which is actually a lucrative target for internet hackers. With the perspective of maintaining an effective financial Cybersecurity architecture, companies have to consolidate their number of cloud security controls into a single comprehensive architecture. This infrastructure should be the one where consistent security standards could be enforced and also, easily managed from a single place.
One of the biggest risks that occurred only due to the emergence of a multi-cloud environment is isolated online platforms within the networks. With adding of a new online-based application, software service, or architecture, there is an unexpected increase in total number of potential entryways into the official network that attackers can exploit. Following listed are the multi-cloud security challenges that are usually faced by financial institutions worldwide:
Things become easier to manage in companies, if automated software are available for the same. CloudCodes CASB vendor provides all protection controls through which financial institutions can overcome multi-cloud security challenges without any complications. The vendor provides its service at an affordable cost, and enables its customers to contact with support executive, if in case clients face any issue. Either through remote desktop connection or doorstep service, CloudCodes keeps its customers satisfied all the time. The security service ensures that clients will not face any Cyberattack or data breach incident due to CloudCodes automated solution. With this CASB solution, it is possible to gain 24*7 data protection upon core data of financial companies!