The finance industry is among the many data-sensitive sectors that must maintain the integrity and security of users’ data. A system leak can lead to a data breach, unsecured data loss, and client information breach, resulting in hefty penalties and brand reputation damage. This brings such FinTech companies to cloud migration services, where they can secure user transactions and financial data for storage, management, and safe sharing.
However, not many firms know what to look for when intending to make a cloud shift. While the cloud is a point of reference for safety, the subsequent migration process, if not done while maintaining data integrity, can lead to data breaches as well. In such scenarios, pinpointing cloud migration consulting companies with industry expertise and prior successful migration proves to be valuable.
Since these safety-focused firms follow all the necessary data categorization, vulnerability assessment checks, and authentication setups, they bring forth a secure cloud environment. Considering that these are imperative for FinTech businesses with large user data, they should look for certain aspects when they are looking for such services.
Significant Things to Consider When Looking for Cloud Migration Consulting Services
Before beginning the assessment and evaluation phase, FinTech businesses must define their requirements and the type of cloud system that would fit their needs. These oftentimes bring firms towards a speedy cloud migration consulting services fitting their needs. Now that the first stages of assessment are evident, let us begin with the factors that can bring ease in identifying the apt services.
1. Security and Compliance Expertise
As the finance industry deals with users ‘ sensitive monetary information, it becomes imperative for firms to focus on security compliance and regulations. This also applies to cloud migration services as they conduct the entire migration and modernization process while following compliance. This implies that the services provider you choose to hire for the process must have extensive understanding and implementation knowledge of security and compliance throughout.
2. Extensive FinTech Domain Knowledge
While cloud migration requires extensive understanding, it is imperative to have full-fledged FinTech knowledge. Cloud migration consulting companies that you choose to appoint for the modernization must have professional expertise, certifications, and tool-based expertise to enable you to migrate with precision, data accuracy, and safety precautions.
3. Custom Migration Strategy
Since cloud migration works efficacious on strategies based on the existing infrastructure, defined migration project requirements hold value. The firms can offer you strategies that match your needs based on the predefined requirements at your end. These strategies that are presented to you must align with your technology and cloud types’ needs. This way, you can ensure the proper migration of the finance business model.
4. Data Management and Analytics
Another imperative factor that holds value is the data management strategy during the finance cloud migration services. Finance businesses must skim through the plan and assess if the data management and security analytics fit their needs and bring forth a proper idea of the subsequent impact it will pose.
5. Prior Cloud Migration Projects and Their Case Studies
Since cloud migration consulting companies with extensive knowledge will be the preference for the services, you must take a look at their previous finance migration case studies. These case studies have expanded the migration lifecycles of their previous projects, which can assist you in assessing and making business-focused decisions.
Conclusion
As we wind up the aspect-focused attempt to consider cloud migration consulting services, we hope the finance-driven pointers assisted you. These factors are the ones that you must look for during the quest to fixate on when looking for a cloud migration services provider with proper knowledge.