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Successful strategies in adopting Hybrid Cloud in Financial Services

Successful strategies in adopting Hybrid Cloud in Financial Services

The benefits of profitability, cost-management, compliance, agility and efficiency gained from implementing a hybrid cloud strategy are hugely beneficial and yet there are hurdles to overcome to ensure success. 

A preferred strategy is to design and deploy hybrid cloud at the enterprise level. It is an important contributor to the IT and business transformation of financial institutions and the innovative benefits they seek to deliver at scale and speed. But how much of its use should a business adopt?

The full value of hybrid cloud is derived from a holistic strategy, pursuing a transformation program, replacing dependency on disparate IT infrastructure and modernising the way a business performs ideally across the entire organisation. Where an organisation excludes certain business functions and operations from cloud adoption it is an exception.

Today, cloud computing is a reality and the use of a hybrid model widely accepted, but there are pitfalls to be aware of. Businesses moving to cloud should be clear on their objectives and goals. What’s clear from the response is 66% of those surveyed have implemented a version of hybrid cloud at a largely functional / operational level. How did this arise?

Several common challenges prevent successful migration to a hybrid cloud solution and failure to manage them will often stall or prevent realising the opportunities and optimise the benefit. Some of the common mistakes include the lack of business in-house specialist expertise, failure to analyse the impact and adopt the right implementation strategies- all fundamental business requirements.

There is a huge endorsement of adopting hybrid cloud at the enterprise level as many IT executives look for consistency in their strategy. However, many complexities remain, as institutions look to navigate legacy and cultural issues in order to be successful.

Download your copy of this Finextra Survey Report, produced in association with Red Hat, to learn more.

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