US Financial Industry Seeks New Ways to Move to Cloud

US financial firms are embracing cloud for its multitude of benefits. With cloud technologies improving over the years and systems being specifically built for cloud adoption, many financial companies are transferring data onto the public cloud. The risk factor associated with moving data into cloud risk is slowly reducing, thanks to the progress of cloud services.

Leading technology companies like Amazon, Microsoft and Google have played a key role in making cloud technologies more accessible to worldwide firms. Cloud has the potential to reduce project costs substantially and to make processes cheaper and faster. Innovation in the digital era is also driving financial firms and regulators to explore major cloud trends. With cloud gaining an industry-wide focus; it is clear now that financial companies want to solve the challenges involved in Cloud adoption. Companies are looking for ways to replace their dated server-filler warehouses with new processes, products and services built around the cloud.


The Journey toward Cloud-First & the Stages of Adoption

   By Stephen Orban, Global Head of Enterprise Strategy, Amazon Web Services

Amazon Web Services is a secure cloud platform provider used by hundreds of businesses across 190 countries. It was founded in 2006 with its headquarters in Seattle, United States.

In my last post, I introduced some patterns I’ve observed within large enterprises that have implemented cloud-first policies. These enterprises have reversed the burden of proof from “Why should we use cloud?” to “Why shouldn’t we use the cloud?” when implementing technology solutions for their business. This post kicks off a mini-series describing a pattern I’ve observed as some enterprises journey toward cloud-first. I call this pattern the four “Stages of Adoption.”

Different enterprises arrive at a cloud-first policy at different points in their journey. Some CIOs with confident instincts will declare cloud-first early in their journey; some create elaborate business cases to justify cloud-first before moving anything to the cloud;


AI and the Intelligent Cloud

   By Michael Meyer, CIO and CSO, MRS BPO LLC

Founded in 1991, MRS BPO, LLC is a provider of Account Receivable and Back Office Solutions that enhance client’s return on investment and net back via compliant collections. Headquartered in New Jersey, USA, it also specializes in offering BPO services like 1st and 3rd party collections.

In the last 10 years, we have seen a number of new Artificial Intelligences (AIs) that have been born, spawned, or created. None of these AIs is yet--anywhere near the powerfully scary omnipresence of the Machine or Samaritan that was portrayed in the recent hit series “Person of Interest”. However, you know instinctually these AIs are growing more powerful and sophisticated with each new version that comes out.

To many of us, these new intelligences already live in the cloud and are able to touch our lives nearly everyday. At a high level, there are two types of AI that we can interact with, the first kind is consumer focused, friendly, free, and is always available to us.