Cloud security risks have become a major barrier | ECS Fin

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Cloud Security Risks Have Become a Major Barrier

Cloud Security: Risks Have Become a Major Barrier

Despite the steer promise of cloud security solutions, less than 40% of the banks and corporates advocate they are attaining the full expected value for their cloud investments. Compliance and security governance weaknesses inevitably challenge Chief Information Security Officers to drive resilience on any cloud-first journey. ECS Fin’s cloud solutions prove how secure and transparent the cloud enables business outcomes.

Raising the Bar of Cybersecurity with the recent updates of SWIFT CSCF v2022

Acknowledging barriers to cloud adoption

Acknowledging barriers to cloud adoption

There is no denying the fact that the global economy is witnessing the break-neck evolution to improve efficiency, security, elasticity, and innovation. At the top of the list are – Cloud initiatives.
We did a short survey where we interviewed financial institutions, organizations, and IT executives to identify and position the barriers to their cloud adoption effects. After all, the road to the cloud’s transformational advantages is complex- incorporating a multitude of dimensions- technology, skills enhancement, agile business processes, organizational designs, and robust strategy.
The barrier noted most frequently by all the respondents was “security and compliance risk” (46%). The next noted barriers were application sprawl and misalignment between the business operations and IT suppliers. After examining all the results, we concluded that these values are the fundamental requirement to cloud success and yet appear to be a challenge for many organizations.
Cloud Security Barriers

Why is Cloud Security essential for business operations?

Why is Cloud Security essential for business operations?

Cloud security enables better business outcomes by being:

Proactive Controls:

Implement proactive controls to prevent malicious or accidental security incidents.

Fast and Furious:

Automated security via a reputable cloud security service provider allows for a much faster response time than traditional security frameworks.

Scalable:

Apply self-healing and automation processes to break the resourcing model of adding headcount and reduce manual steps in order to enable the organization to grow at scale.

Cloud Security as a Resilience Accelerator

Cloud Security as a Resilience Accelerator

Over time, more than ever, organizations and financial institutions have to reprioritize their cloud security approach to transform their solutions with agility. As the name infers, every new instance of cloud computing solution holds the potential to brew up a new security storm, affecting many business operations and profitable indexes. So, what ECS Fin offers under its cloud solution hood is necessary to know:

What offers ECS Fin:

Organizations can access and utilize the entire range of IMS products and services without investing in expensive infrastructure, license fees, implementation costs, and time to broaden their product scope and market opportunities.
Check the compliance aspects of messages against any number of sanctions lists.
Under the ECS Cloud regime, corporates and banks can unlock actionable insights for intelligent business decisions by opting complete securities processing and supporting services of an Investment Manager or Hedge Fund company.
FI and corporates can opt to design and deploy base security controls with the ultimate objective of creating a secure landing zone on the cloud platform.
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More than 50% of ECS Fin applications are in the public cloud

ECS Fin has saved 30-70% in the cloud compared with Security Information as-as-service offerings.
COVID-19 and hybrid work culture has developed a new inflection point where every organization needs to accelerate its migration with the pursuit of enabling end-to-end digital transformation.

In short, the cloud is not an alternative; it’s become a mandate.