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New Security Realities Emerge As Financial Firms Move Into The Cloud

Next Pathway’s CEO Chetan Mathur and President Clara Angotti discussed the emerging cloud market and increasing demand in risk and security mitigation.

Financial Institution move to the cloud

 

The State of Enterprise Cloud Migrations, a survey conducted by Next Pathway, highlights an increasing demand for enterprises embracing migration to cloud systems and the potential security risks. 

One-third of the many IT companies that want to migrate their workloads have been able to successfully shift to cloud systems completely. “Our research reveals that companies that want to move to the cloud, need help — they want more services, industry solutions and enhanced products,” said Chetan Mathur, CEO of Next Pathway, as he recognizes the struggle to migrate to cloud systems in this highly competitive market. 

As cybercriminals become more aggressive, financial institutions experiment with digital storage systems. Sensitive data stores consisting of anti-money laundering, fraud prevention and bankruptcy tracking are conveyed to the cloud to implement security measures, according to Clara Angotti, President of Next Pathway. In need of reinforcing risk security mitigations, enterprises are modifying their cloud systems to adopt hybrid cloud architectures that offer secure private and public cloud systems. “We are still in the early stages of the emerging cloud market. As this market matures and we realize that the race to the cloud rewards those that move quickly, more is being demanded from the vendors to accelerate cloud migrations,” Angotti said. 

With increased cybercrime and a demand to move corporate workloads to a safer and accessible source, service providers have endorsed migrating to a cloud system. 

To Learn More, Read More on SC Media: New security realities emerge as financial Firms move into the Cloud

 

About Next Pathway

Next Pathway is the Automated Cloud Migration company. Powered by the SHIFT™ Migration Suite, Next Pathway automates the end-to-end challenges companies experience when migrating applications to the cloud. For more information, please visit nextpathway.com.

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