# Cloud Migration for Financial Services Organisations – What’s the best approach?
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-11-16
Category: TECHNOLOGY
Category URL: https://financedigest.com/category/technology
Meta Title: Secure Your Financial Services Ecosystem with Cloud Gateway
Meta Description: Learn how financial services organisations can navigate the risks and benefits of cloud migration, with insights on SASE solutions and hybrid cloud approaches.
URL: https://financedigest.com/cloud-migration-for-financial-services-organisations-whats-the-best-approachhtml

![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/istock-12958992781-1736814860719-compressed.jpg)

_By_ **_Rachel Mcelroy,_** _Marketing Director at_ [_Cloud Gateway_](https://www.cloudgateway.co.uk/)

Financial Services Organisations, such as banks, insurance firms, and accounting firms, are not new to cloud infrastructure and services. In fact, adoption of cloud is increasing within the industry, much due to the pace at which technology advances, and all sorts of as-a-service products, tools and technologies– meaning businesses will generally rely on at least one cloud service provider to guide their transformation goals.

However, the ongoing nature of [digital has meant that, like other industries, the finance sector has been active in developing new digital initiatives that successfully fulfil increasing demand](https://www.financedigest.com/veraviews-welcomes-hoopla-digital-as-a-demand-partner.html "VeraViews Welcomes Hoopla Digital as a Demand Partner"), whether that be from clients or compliance with FCA policies. There is never truly a moment to pause or [reach the end](https://www.financedigest.com/td-other-banks-reach-1-35-billion-settlements-to-end-stanford-litigation.html "TD, other banks reach .35 billion settlements to end Stanford litigation") of a project. For [digital transformation](https://www.financedigest.com/redefining-the-human-touch-with-data-driven-digital-transformation.html "Redefining the human touch with data-driven digital transformation"), the process remains ‘on’ and in a state of optimising to ensure it is up-to-date and as effective as possible.

[Cloud migration](https://www.financedigest.com/a-cloud-migration-guide-for-financial-institutions.html "A Cloud Migration Guide for Financial Institutions") is not without its risks and worries, yet there are ways to ease or even prevent these with the likes of a multi-cloud approach and a solid digital foundation.

**Securing your ecosystem**

When establishing new projects to progress digital transformation journeys, placing [data in the cloud is a common first move](https://www.financedigest.com/exclusive-binance-moved-346-million-for-seized-crypto-exchange-bitzlato-data-show.html "Exclusive-Binance moved 6 million for seized crypto exchange Bitzlato, data show"). Even in those instances which don’t seem highly technical on the surface, such as mobile [banking or working](https://www.financedigest.com/working-with-banks-essential-tips-for-fintechstartups.html "Working with banks – essential tips for fintechstartups") from home. Nonetheless, the aim is always to meet industry standards, improve the resilience of operations, and develop [financial services](https://www.financedigest.com/can-financial-services-brands-ever-be-credible-on-social.html "Can financial services brands ever be credible on social? ") so that they effectively meet customer needs – all of which a robust cloud infrastructure helps ensure.

As a frequent target of cyberattacks, [financial services](https://www.financedigest.com/how-crowdsourcing-can-help-drive-the-benefits-of-advanced-analytics-in-financial-services.html "HOW CROWDSOURCING CAN HELP DRIVE THE BENEFITS OF ADVANCED ANALYTICS IN FINANCIAL SERVICES") are understandably hesitant about moving their data from on premise to the cloud. However, cloud infrastructures have been designed with extra touch points through external internet connections and private clouds, which multiply when approached from a [hybrid way](https://www.financedigest.com/five-ways-to-embrace-hybrid-working.html "Five Ways to Embrace Hybrid-Working").

The [security boundaries implemented between the cloud service](https://www.financedigest.com/what-can-we-learn-from-financial-services-security.html "What can we Learn from Financial Services Security?") and the organisation’s network can vary between service providers, so it is important to understand the conditions for each one. [Secure Access Service](https://www.financedigest.com/how-financial-services-are-overhauling-security-to-defend-against-spoofing-scams.html "How financial services are overhauling security to defend against spoofing scams") Edge (SASE) solutions can provide an answer to this, by allowing organisations to get a holistic view of their ecosystem, and securely connect to a variety of cloud providers with workloads that are easy to move between.

**Easing the process for time and** [money savings](https://www.financedigest.com/how-to-save-money-for-a-car.html "How to save money for a car")

A key driver for [organisations moving over to the cloud](https://www.financedigest.com/embracing-cloud-computing-how-and-why-organisations-are-set-to-invest-more-in-cloud-computing-in-2023.html "Embracing Cloud Computing: How and why organisations are set to invest more in cloud computing in 2023") is, of course, to save money. Additional fees for add-ons can pop up, serving as a nasty surprise when looking at the bill, whilst being committed in a [big contract with the more traditional service](https://www.financedigest.com/how-big-data-is-sending-shockwaves-through-the-financial-services-sector.html "How big data is sending shockwaves through the financial services sector") providers can feel hard to escape. In many instances, trying to adapt your infrastructure can be met with more expenses and interruptions to operations, so remaining flexible by adopting a [hybrid cloud](https://www.financedigest.com/how-hybrid-cloud-computing-offers-the-best-of-all-worlds.html "How hybrid cloud computing offers the best of all worlds") approach can ensure that your organisation retains control over transformation.

Yet, we acknowledge there is a stressful element to managing multiple vendors; a [solution underlying all of this can increase the visibility of your ecosystem and even reduce the number of vendors managed](https://www.financedigest.com/quality-and-compliance-management-solution-market-to-rise-at-a-high-cagr-of-9-4.html "Quality and Compliance Management Solution Market to rise at a high CAGR of 9.4%"). SASE, for example, provides a digital foundation for which to begin your [cloud migration](https://www.financedigest.com/financial-services-industry-blazes-the-trail-for-cloud-migration-post-pandemic.html "Financial services industry blazes the trail for cloud migration post-pandemic"), allowing you to start small and scale up – the pace is up to you. By having more control over your [transformation strategies](https://www.financedigest.com/can-ai-supercharge-your-banks-digital-transformation-strategy.html "Can AI supercharge your bank’s digital transformation strategy?"), you can clearly get a picture of what works best and have that flexibility to change in order to remain cost-effective and relevant to your targets.

Smoothing the migration is also essential for many organisations, especially as they involve [shifting workloads to meet their increased](https://www.financedigest.com/demand-for-automotive-gas-charged-shock-absorbers-market-to-be-fuelled-by-rapid-shift-in-consumer-perception-and-increasing-awareness.html "Demand for Automotive Gas Charged Shock Absorbers Market to be Fuelled by Rapid Shift in Consumer Perception and Increasing Awareness") digital goals. But when these often-large workloads are put into a single [cloud provider](https://www.financedigest.com/can-companies-minimise-their-dependency-on-cloud-service-providers.html "Can companies minimise their dependency on cloud service providers?") environment, it risks being overfilled. This can potentially [lead to compromising on the speed](https://www.financedigest.com/covid-19-is-impacting-the-variable-speed-drive-market-size-business-revenue-forecast-leading-competitors-and-growth-trends-2028.html "COVID-19 Is Impacting The Variable Speed Drive Market | Size, Business Revenue Forecast, Leading Competitors And Growth Trends 2028"), scale and most importantly, security, of the environment. [Organisations need the flexibility and power to decide what data](https://www.financedigest.com/avoiding-a-big-data-car-crash-how-to-organise-your-data-to-detect-fraudulent-claims.html "Avoiding a big data car crash: How to organise your data to detect fraudulent claims") goes where – whether it stays on-premise or in the cloud. SASE solutions can allow for this multi-cloud, hybrid approach, swiftly deploying these in an agnostic fashion and bringing an extra layer of [protection in any future](https://www.financedigest.com/5-ways-to-protect-your-wealth-for-future-generations.html "5 Ways to Protect Your Wealth for Future Generations") vendor issues.

**Migration complete – where next?**

Once the task of migration is complete, there is the looming pressure of maintaining performance and availability standards – or, even, exceeding them. There is a risk of downtime during or after transferring workloads, so organisations must be aware of how this may [impact customer](https://www.financedigest.com/the-fca-is-taking-immediate-action-on-customer-vulnerability-but-how-does-this-impact-advisers.html "The FCA is taking immediate action on customer vulnerability; but how does this impact advisers?") experience, as well as their own company’s reputation. [Hybrid cloud models reduce this risk by letting an organisation](https://www.financedigest.com/how-collaboration-technologies-are-helping-organisations-to-embrace-a-hybrid-working-model.html "How collaboration technologies are helping organisations to embrace a hybrid working model") choose a risk profile that best suits them, made up of a variety of combinations from one vendor to a mix of on-premises and private cloud.

A SASE [solution can further ensure](https://www.financedigest.com/vias-cloud-based-solutions-ensure-painless-office-move-for-insurance-body.html "VIA’S CLOUD-BASED SOLUTIONS ENSURE PAINLESS OFFICE MOVE FOR INSURANCE BODY") security and agility by making sure organisations remain aware of all components in the migration, reducing complexity and risk, as well as extending performance. Furthermore, it can help financial organisations to be reactive as possible as the landscape of [working becomes more remote](https://www.financedigest.com/shoring-up-cyber-defences-in-the-remote-working-era.html "Shoring up cyber defences in the remote working era"), by offering secure remote access to hybrid workforces

It is clear that for [financial organisations](https://www.financedigest.com/can-financial-services-organisations-harness-data-and-bi-to-catch-up-in-the-digitalisation-race.html "Can financial services organisations harness data and BI to catch up in the digitalisation race?  "), successful cloud migration involves the ability to monitor and visualise the full process to identify potential risks and address them. Hybrid and multi [cloud strategies can be facilitated in a way](https://www.financedigest.com/7-ways-cloud-technology-can-transform-business-finances.html "7 ways cloud technology can transform business finances") that acknowledges and executes security policies, quickly deploying and managing connections no matter how many cloud providers are involved, all whilst reducing cost and scaling cloud environments.


---
This blog is powered by Superblog. Visit https://superblog.ai to know more.
---