Financial Institutions Delivering Better Performance with Cloud Server Hosting
The experts have been increasingly debating about various concerns related to cloud servers. Banks and other financial institutions across the world are exploring and leveraging the possibilities connected with the cloud computing technology to successfully streamline their backend operations. One of the recent research reports revealed that banks, on an average, utilizes nearly 844 cloud services models over their entire network.
Another study carried out by Reuters recommended that approximately 66% of the financial institutions globally are preparing to incur greater expenditures on the novel technological innovations. This fact clearly reveals that the cloud hosting platform is increasingly becoming user centric. Various banking cloud applications include social media platforms, and business to business (B2B) services. Moreover, companies based in the financial sector are making efforts to connect these applications to multiple users in order to completely tap on the potential of cloud. These banking applications are known to perform intricate transactions from any location and at any point of time.
In a broader spectrum, private banks and financial institutions located in Asian & European nations are getting influenced with the changing technology to retain their existing customers by improving customer loyalty. This is one of the major reasons why every bank today provides mobile banking applications to their priority customers to effectively address their concerns and consequently cutting down their escalating operating costs. The zero upfront costs can significantly help a bank improve its profitability and have a positive impact on its balance sheet.
Gartner, one of the leading research houses, predicted in a recent study that more than 60% financial institutions worldwide are expected to process their back-end transactions through the cloud technology by the end of the year 2016. This simply signifies that in the current scenario most of the banks have already realized the importance of availing cloud server hosting to store their customer database in a secured hosting environment that can be easily accessed from anywhere while leveraging the elasticity of cloud technology to tailor their specific needs that are easily integrated in their current IT infrastructure.
The above stats reveal the fact that a scalable cloud arrangement with resilient servers to store critical information is capable of providing scalability, better performance, enable clients achieve economies of scale for supporting their future opportunities. These applications can further trim down time to reach customers and stay connected via mobile devices and smartphones. Besides, the other important advantages for moving to cloud for a bank include:
Abridged Capital Outlays: The cloud servers are based on the virtualization technology. For this reason, the ISVs offering this technology as a part of their services are capable of helping their clients in slashing down their total IT expenditure by outsourcing their physical infrastructure and charging monthly subscription fees in lieu. This means that the users are only required to pay for the services availed during the month, converting capital costs to operating costs.
Easy to Deploy: The cloud hosting services can be easily deployed as well as managed in comparison to the virtual desktops. The hosting companies offer physical infrastructure to clients and effectively cater to their changing business requirements. Besides easy deployment as well as implementation, these agencies offer around-the-clock technical support backed by 99% uptime.
Higher Scalability: Due to changing business requirements, companies can effortlessly add and reduce resources, without any hassle. This entire process only requires minutes, which makes it simpler for enterprises to easily manage their occasional business requirements.
No Location Dependability: The cloud server hosting services can be availed from any geographical location. So banks can access their critical information from any branch location across the globe and server their customers seamlessly. This improves client's trust on the bank and improve banks overall performance.
In a nutshell, the evolution of cloud hosting has played a vital role in helping banks improve their customer services. The technology seamlessly connects banks with their customers through a plethora of web-enabled banking applications.
Author of this article is a renowned technical writer. The writer keenly observes various trends in the web hosting industry. Go4Hosting is a leading provider of cloud hosting applications at affordable prices. For more information, visit http://www.go4hosting.in.