Over the past few years, we have been working on moving our product offerings and infrastructure to the cloud. As part of this movement, we have introduced cloud-based solutions like Office 365, managed cloud backup and remote apps.
A key piece that has facilitated our move to the cloud included expanding our partnership agreement with IBM for Hybrid Cloud technologies and data centre modernization. Initiatives like these are crucial to the shared success between us and our clients.
We know that there is a rising need for ubiquitous access to data. Modern cloud technologies provide the ability to scale workloads quickly and provide the redundancy across the globe to deliver access to mission critical data and applications. Explore four of the key features of cloud below.
01./ Cloud Storage Capabilities
The data storage capabilities of a cloud environment streamlines mobile access to data processing, giving developers more freedom to reimagine the end-user interface and the ability to design products without the limitations of on-prem endpoint applications.
Organizations are looking at their legacy applications to identify which ones can be segmented into microservices and web-based services, so that they can move more workloads to a cloud environment. These microservices and web-based services send smaller individual requests through web servers and API channels in comparison to traditional on-prem legacy applications. Smaller requests means greater processing efficiencies.
Microservices also enhance the ability to update systems and install upgrades during a regular business day without impacting the entire application stack. This segmented approach to processing means an entire application doesn’t need to be updated, just the microservices. The result is minimized downtime and less opportunity for error.
Microservices run in a serverless environment, without the need for dedicated hardware and databases. There is no limit to RAM and data storage, so cloud environments can manage peak workloads by auto scaling the processing power as needed.
02./ Differences between Public, Private and Hybrid Cloud
Public clouds are meant to provide access en masse. They are designed to be standardized and operate at scale with limited ability to be customized. They eliminate the need for server infrastructure and the maintenance of systems is fully managed. These solutions are often associated with a monthly fee. A tangible example that most people are familiar with would be Microsoft’s Office 365 solution.
A private cloud environment is necessary when there are specific security requirements, network considerations or customization needs. The private cloud results in limited processing resources that help manage peak workloads.
The hybrid cloud environment is a mix of on-prem and cloud solutions. There are legacy applications that require more time to evolve and move to a cloud environment. Until then, organizations (excluding some new startups) will exist with some sort of hybrid solution while they execute their digital transformation strategy.
03./ Transition to the Cloud
The transition to the cloud starts with an institution looking at the smallest customer-facing workloads. These are often found in edge applications, like digital banking channels. The prospect of innovation in this space is immense, as developers can focus on the customer experience and using APIs to access cloud-based data.
Traditional legacy systems journey to the cloud will take a little more time. Rest assured, service providers in this space are investing heavily to shift critical systems to a cloud environment.
04./ Cloud and Credit Unions
Nearly every vendor and partner in this space is exploring how legacy applications can be segmented into microservices and moved to the cloud. This evolution will need to occur without compromising robust account processing capabilities of core solutions. The transition to the cloud by these providers is inevitable and is needed to accommodate open banking opportunities.
The data security and resiliency of the cloud will be an immense upgrade from on-prem server environments. Cloud providers deliver world-class security and .9999 uptime that can’t often be matched with on-prem server environments. Credit unions need to consider which applications need to move to the cloud and their ability to accommodate this transition within scope of their budget.
As organizations transition to cloud-based processing and evaluate their legacy applications, they need to consider updating processes to better reflect and leverage the capabilities of a cloud environment. If the expertise does not reside within your team, executives should seek external consultation to develop a roadmap for movement to the cloud.
Creating a cloud centre of excellence within your organization that includes a change management plan and training for your staff will ensure that you maximize the benefits of moving to the cloud. If you enable a cloud environment without considering your legacy processes, the benefits of the new technology will be limited because of outdated organizational practices.
To learn more about Celero’s cloud strategy or how your credit union can make the move to the cloud, contact your Celero Account Executive.