Financial services institutions (FSIs) pursue cloud deployment to satisfy customer expectations for a full-service remote experience and to remain competitive. This sounds straightforward, but FSIs have particular requirements related to risk, cost, compliance and resilience. A hybrid model with the right mix of colocation and cloud is ideal.
Colocation allows you to move critical infrastructure like trading platforms, banking applications and customer service operations into high-performance data center facilities – which provide the low latency, scalability, reliability and favorable total cost of ownership (TCO) you require. And, you also need to be able to connect to the major cloud service providers (CSPs) via dedicated, private interconnection within the facility to maximize the value of a hybrid model.
According to IDG’s 2021 State of the Data Center report, “Cloud repatriation has been a growing trend in recent years. Many companies that have uncritically embraced cloud-first strategies have seen costs increase, performance drop, or compliance being challenged and are now moving workloads and data off a public cloud environment to a different infrastructure.”¹ That’s not to say they are abandoning the cloud. Instead, FSIs and their ecosystem of service providers are methodically evaluating each element in their set of resources. By establishing a business-specific balance of colocation, on-premises and public cloud services, they can take back control of costs and offer an optimized, differentiating customer experience.
I agree with this approach to fine-tuning your strategy and roadmap. In my opinion, when you bring these types of ideas into your conversations, you also need to think about the role of a colocation and interconnection provider. The right provider adds value in several ways. For example:
To learn how CoreSite helps FSIs optimize their cloud mix to address industry imperatives and remain competitive, click here.
To take a really deep dive into the challenges and solutions, check out "Low Latency, High Security, Flexibility: How Financial Services Can Get More from Hybrid IT." In this webinar, co-hosted by 451 Research and CoreSite, featuring Mike Katsiadas, head of IT business operations at IMC Trading, we:
1. IDG, 2021 State of the Data Center Report: COLOCATION IS THE NEXUS FOR HYBRID AND MULTI-CLOUD IT-DRIVEN SUCCESS
SVP, General Management
Matt is responsible for the general management as well as providing oversight for sales engineering and capacity inventory management functions. He has 20+ years of experience in critical power and mechanical system operation, leadership and business management of network-centric data centers.Read more from this author