Con el Cloud ya no hay límites

  • ¿Pueden los Cloud de ayer acompañarle en su viaje digital?
  • ¿Por qué hay que elegir open-source con varias opciones TIC para Banca y Seguros?
  • ¿Puede K5 ayudarle a proporcionar servicios seguros, flexibles y centrados en el cliente?


¿Puede un Cloud global cumplir las regulaciones locales?

¿Cómo los proveedores de servicios financieros pueden beneficiarse de un Cloud global cumpliendo a la vez las regulaciones locales? Exploramos las posibilidades atendiendo a varios tipos de regímenes regulatorios, la competencia de las FinTech y el papel del nuevo Cloud K5

Can cloud support compliance globally– and fend off the competition?

Sanjeev Kamboj, Head of PreSales & Architecture EMEIA, Hybrid IT, Fujitsu – January 2017

There is plenty of focus on the latest release of PCI/DSS standards and the impending EU General Data Protection Regulation (GDPR). So you would be forgiven for thinking that legislation covering financial services providers had been harmonised. Far from it.

As we already know, in the UK there is still the Financial Services Act and Payment Services Regulations. In Germany there is the Banking Act, Insurance Supervision Law and Securities Trading Act. In France, there is the Financial Security Act. Three countries. Six country-specific laws regulating financial services. And this is just the tip of the iceberg for banks, insurers and other global providers.

The list doesn’t include national legislation from the other 25 EU Member States. Or even pre-existing consumer data protection laws in some of those countries. What it does highlight is that compliance requirements remain a complex challenge for UK financial services providers.

But while the regulatory environment for financial services retains its local standards, many other sectors have gone global, especially when it comes to IT. Global cloud platforms could offer banks and insurance providers the kind of cost-income ratio efficiencies they need to compete with the new FinTechs, InsurTechs and GAFAs (Google, Apple, Facebook, Amazon). Especially when traditional business models are fast becoming dated in the face of these agile competitors. Established players will need to find more flexibility to compete. But they also need to find operational savings while staying fully compliant in every country they operate in.

Having talked with plenty of progressive financial services firms, I know that staying competitive without compromising compliance has become a pressing problem.

Which way to turn?
Financial services providers are embracing cloud not just because they want to but because it has become a commercial imperative in the face of agile, digital-first competitors like the FinTechs. So do they try to shift IT to a global cloud platform that can deliver agility and efficiency but might risk non-compliance? Or do they maintain separate systems for separate regulatory regimes – to secure data residency, for example ¬– but give up on some of those big cloud benefits?

It’s this subject that has been at the centre of the conversations I’ve had with my financial services contacts recently. During these discussions, I’ve also been showing them our new Cloud Service K5 platform. It was designed to accommodate precisely the types of regulatory and business challenges they are facing. Crucially, it still allows firms to benefit from the global cost and management savings they are looking for.

K5 provides a common architecture and infrastructure model for cloud services so there are efficiency gains from a degree of standardisation but with that essential flexibility to adapt to local regulatory requirements. As I have been explaining, it also gives financial services providers savings by potentially bringing together previously disparate on-premise, public cloud and private cloud environments on a single architecture that can provide operational efficiencies.

The flexibility of this approach can be a new source of value for financial services providers. Especially at a time when the sector is witnessing a massive transformation in relation to customer expectations and increasing competition from the FinTechs. For established players, it gives them the means to stay ahead of the chasing pack. For the new players, it offers them a way to scale up as demand explodes.

What is clear to me following my conversations with financial services providers is that up until now they feel they have been forced to choose between local compliance or global cloud benefits to stay ahead I hope that I have demonstrated that this is no longer the case.

Mark Phillips
Director de Hybrid IT para EMEIA

La Banca y los Seguros con K5

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