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Cloud computing — or partnering with an application hosting company — offers enormous benefits to banks. A bank that migrates to the cloud can expect to see several benefits. However, a migration to the cloud can be very challenging for most organizations.  For financial institutions with legacy banking applications bank cloud computing can be near impossible. The Compushare Cloud Computing (C3) platform is a “bank cloud” where your legacy applications are already web enabled and as a result, your bank can experience enormous benefits.  Some of the these benefits include:

 

• Resiliency. Redundant systems in the cloud help create enterprise-wide availability, which is a tremendous benefit to banks as business continuity is a requirement for your business. 
• Scalability. Take advantage of an affordable way to scale your IT operations as your organization grows or shrinks and your technology needs change  because mergers and acquisitions are so prevalent among the banking community right now, scalability and easy integration is necessary.  It is only through cloud computing that this level of scaling the business is easy and does not require major integration projects. 
• Cloud Security. Centralized data storage with robust authentication and access controls provides a higher level of protection for sensitive data such as customer information. Plus standardization is a major benefit of cloud computing. Cloud security is the key to cloud compliance.  
• Accessibility. Have access to the latest data, systems and applications from any computer, anywhere anytime of the day or night is the promise of cloud computing.  You no longer have to be limited by desperate client server environments.
• Cost Savings. One of the major benefits of cloud computing is that you can eliminate unnecessary capital expenditures and budget-destroying hardware refreshes.