Understanding the Digital Disruption
Banks and financial services firms are looking to get the most out of their infrastructure. According to the Third Annual Nutanix Enterprise Cloud Index, a survey on the financial services sector’s top motivations for modernizing its IT infrastructure indicated that, While cost is less of a factor, more respondents in the financial services sector rated cost savings (31%) as a higher driver for cloud compared with the global average (27%). What banks must deliberate is how digital disruption will help them keep their customers contented and attract new clientele.
59% of them wanted to gain greater control of IT resource usage.
58% of the firms were driven to modernize IT to gain speed.
Banks are expected to save approximately 20% to 65% costs by running their data workloads in the cloud
Cloud4C Named a Visionary in 2021 Gartner® Magic Quadrant™
for Public Cloud IT Transformation Services 2021
What does IT Modernization mean for Banking Customers?
Banks with a digitally modernized infrastructure at the core can quickly adapt to transitions in the marketplace and provide customer experiences such as real time payments that stand out, effectively establishing themselves as disruptors and leaders in addressing their clients’ and organization’s needs.
A successful digital transformation project for banks must revolve around four priorities-
Cloud4C can deliver tangible value for your bank with digital transformation and application focused managed services.
Complexities of Modernization for Banks
Deciding to take the first step towards core banking modernization by building a strong infrastructure foundation on the cloud is one aspect but doing it successfully and cost-effectively, quite another. Some of the biggest concerns banks face include,
It is every bank's criteria to leverage proven blueprints, ready to use frameworks, tools and migration methodologies. Nevertheless, if cloud adoption does not mean capitalizing emerging technologies, like artificial intelligence and machine learning software, to deliver more relevant services in the midst of changing markets then it is meaningless.
The Road to Cloud Transformation
Starts with Our Cloud Discovery Workshop
Service
Controls
Assessment based
on our CAF for
PCI, BIB, &
Regtech
Test and Dev on
Cloud
Non core banking /
Digital Assets
Migration to Cloud
with PCIDSS
readiness
Banking Hybrid
Cloud with Draas
(RPO, RTO)
Core banking
Migration to Cloud
With regulatory
readiness
Approach
Lift & Shift
Infra
Modernization
DB
Modernization
App
Modernization
Start Your Journey to Cloud based Banking
with Cloud4C
90 Bank Customers
5 in Top 20 Global Banks
12 in Top 25 Banks in India
Each organization is unique, so will have its own digital transformation journey. It is crucial to understand the current capabilities and then map them to our desired goals in the best possible ways. Cloud4C not only shortens the go-to-market times but empowers banks to stay in complete control through dynamic shifts in regulatory, business, and customer requirements.
Application Focused, High-End Cloud Managed Services Provider with Factory Approach
Cloud4C has extensive experience in designing and delivering customized comprehensive banking solutions across diverse geographies and markets. Our proven cloud adoption framework for banks has been developed based on ground realities that will give you an accurate understanding of where you stand and how best your organization can achieve the digital transformation goals.
Our advanced managed services are designed to help banks at various stages in their life journey to adopt technological solutions that will significantly boost their capabilities to meet customer expectations while managing increasingly complex regulatory and compliance requirements.
Cloud4C BFSI Modernization Services
Infrastructure Modernization
Cloud4C offers infrastructure modernization services to take your core banking system, application and software to the next level of performance and manageability. We help you drive your organization’s IT modernization process through various phases of efficiency and agility with a modular, structural approach.
We partner with banks to simplify and standardize IT infrastructure and application platforms, and guide you through the organizational changes necessary to seamlessly operate and take the complete benefits of running a core banking system in a hybrid environment.
The container-based orchestration environment provided by Kubernetes offers significant flexibility in relation to building a bank’s cloud environment, whether in the public cloud, private cloud, or as a hybrid. As part of the Kubernetes as a Service, Cloud4C team of experts handle the deployment and operation of a fully managed Kubernetes control plane, including configuration, operation and maintenance of all Kubernetes components. Cloud4C offers best practices and support for deploying and operating highly scalable applications within Kubernetes.
Cloud4C can help your bank accelerate the security and compliance process by creating a comprehensive compliance roadmap and providing you the necessary people, process, technology metrics. Some of the key compliances and standards that Cloud4C will help you adhere to are as follows.
Cloud4C application modernization helps financial institutions in maintaining, extending, deploying and managing their applications, so that they meet the current and future business needs. This depends on the organization’s vision, which will be driven by factors such as strategic business initiatives, application architecture, time, cost, and available skills.
For banks to be able to collaborate with third party technology developers, to compete and expand service offerings, embracing the API economy is a must. We create an approved gateway that will enable interaction between your banking application and external third party applications within industry record time. We help you deliver more connected experiences to customers, enabling faster product and service innovation with low cost and low risk. With Cloud4C application modernization, financial institutions can quickly extend processes, services, content and data to partners, mobile experiences and third-party developers in a reliable and highly secure way.
Micro-services approach consulting by Cloud4C makes the migration of monolithic applications and legacy systems a smooth affair, building a new architecture that leverages micro-services. Cloud4C can build and manage microservices, integrating applications and developing databases that are agile and flexible. Cloud4C supports and maintains services that improve the quality of microservices applications development, and which cut down the defects.
Banks need to migrate to a DevOps deployment model to bring in agility and faster go to market. Cloud4C DevOps helps banks in accelerating the release process by automating testing and releasing new versions of the application code on the fly for their core banking system.
Moving data from legacy databases to modern cloud-based databases essentially helps in building data-driven intelligence on customers, markets and internal business processes. A cloud-services partner of thousands of enterprises worldwide, Cloud4C brings in certified cloud experts and data scientists to deliver the right advice on data migration to cloud platforms and modernize it.
A discovery workshop is held to gather stakeholder opinions, assess data warehouse readiness, collect server and application information.Then, the Cloud4C Migration Factory three-pronged migration approach drives complex and large scale migrations to the database of your choice while ensuring data integrity and security.
We personalize database managed services by providing a customized scalable architecture for planned and managed database configuration, custom rule-based policies for users or queries, and automated scripts for efficient database management. We ensure near zero management with built-in performance and eliminating the administration demands of traditional platforms and big data solutions.
To bring predictive power to your business and do a deeper analysis of your data, certified data scientists at Cloud4C can help your bank get ahead of the curve when it comes to leveraging intuitive and interactive dashboards equipped with data analytics, to make smart decisions through real-time monitoring and visual exploration. With a Single Source of Truth we help you build data marts that power visualization dashboards, and the ability to process data on the go.
Cloud4C delivers a modern workplace, with which banks can ensure that staff are always able to access secure information and are able to collaborate to make better-informed decisions that are based on real time data, increasing accuracy and expediting processes. We help you face challenges met by the remote workforce by ensuring secure communications to or from staffers' homes.
Cloud4C’s VDI Services help you deploy virtualized desktops across your end-user workforce to enhance the user experience, increase security and decrease costs across your organization. We ensure the implementation of the design to accelerate deployment so users get the benefits of VDI with little to no delay and guaranteed success on Citrix and VMWare.
While AWS WorkSpaces is a great DaaS solution, clients still have to build their preparedness to adopt it. This includes choosing the right tier of AWS offering, creating the right kind of WorkSpace to suit their requirements and managing the offering. Cloud4C team has more than a decade of experience in building and maintaining virtualized desktop environments including DaaS.
Cloud4C is helping customers transition to a virtual workspace experience with ease and zero disruption with its managed DaaS offering on Microsoft Azure WVD. We offer configuration, installation, integration, UAT services to ensure readiness of the back-end cloud infrastructure. We also provide proactive monitoring, incident management, change and patch management, and service desk to ensure consistent delivery of superior end-user experience.
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Build a Hybrid-ready Private Cloud
We partner with banks to simplify and standardize IT infrastructure and application platforms, and guide you through the organizational changes necessary to seamlessly operate and take the complete benefits of running a core banking system in a hybrid environment.
-
Kubernetes as a Service for Banks and Financial Institutions
The container-based orchestration environment provided by Kubernetes offers significant flexibility in relation to building a bank’s cloud environment, whether in the public cloud, private cloud, or as a hybrid. As part of the Kubernetes as a Service, Cloud4C team of experts handle the deployment and operation of a fully managed Kubernetes control plane, including configuration, operation and maintenance of all Kubernetes components. Cloud4C offers best practices and support for deploying and operating highly scalable applications within Kubernetes.
-
Compliance as a Service
Cloud4C can help your bank accelerate the security and compliance process by creating a comprehensive compliance roadmap and providing you the necessary people, process, technology metrics. Some of the key compliances and standards that Cloud4C will help you adhere to are as follows.
-
Application Modernization
Cloud4C application modernization helps financial institutions in maintaining, extending, deploying and managing their applications, so that they meet the current and future business needs. This depends on the organization’s vision, which will be driven by factors such as strategic business initiatives, application architecture, time, cost, and available skills.
-
Build an Open Banking Ecosystem
For banks to be able to collaborate with third party technology developers, to compete and expand service offerings, embracing the API economy is a must. We create an approved gateway that will enable interaction between your banking application and external third party applications within industry record time. We help you deliver more connected experiences to customers, enabling faster product and service innovation with low cost and low risk. With Cloud4C application modernization, financial institutions can quickly extend processes, services, content and data to partners, mobile experiences and third-party developers in a reliable and highly secure way.
-
Microservices Architecture for Banks
Micro-services approach consulting by Cloud4C makes the migration of monolithic applications and legacy systems a smooth affair, building a new architecture that leverages micro-services. Cloud4C can build and manage microservices, integrating applications and developing databases that are agile and flexible. Cloud4C supports and maintains services that improve the quality of microservices applications development, and which cut down the defects.
-
DevOps Services for Banks
Banks need to migrate to a DevOps deployment model to bring in agility and faster go to market. Cloud4C DevOps helps banks in accelerating the release process by automating testing and releasing new versions of the application code on the fly for their core banking system.
-
Database Modernization
Moving data from legacy databases to modern cloud-based databases essentially helps in building data-driven intelligence on customers, markets and internal business processes. A cloud-services partner of thousands of enterprises worldwide, Cloud4C brings in certified cloud experts and data scientists to deliver the right advice on data migration to cloud platforms and modernize it.
-
Database Migration
A discovery workshop is held to gather stakeholder opinions, assess data warehouse readiness, collect server and application information.Then, the Cloud4C Migration Factory three-pronged migration approach drives complex and large scale migrations to the database of your choice while ensuring data integrity and security.
-
Database Managed Services
We personalize database managed services by providing a customized scalable architecture for planned and managed database configuration, custom rule-based policies for users or queries, and automated scripts for efficient database management. We ensure near zero management with built-in performance and eliminating the administration demands of traditional platforms and big data solutions.
-
Workplace Modernization
To bring predictive power to your business and do a deeper analysis of your data, certified data scientists at Cloud4C can help your bank get ahead of the curve when it comes to leveraging intuitive and interactive dashboards equipped with data analytics, to make smart decisions through real-time monitoring and visual exploration. With a Single Source of Truth we help you build data marts that power visualization dashboards, and the ability to process data on the go.
-
Managed Advanced Data Analytics & BI
Cloud4C delivers a modern workplace, with which banks can ensure that staff are always able to access secure information and are able to collaborate to make better-informed decisions that are based on real time data, increasing accuracy and expediting processes. We help you face challenges met by the remote workforce by ensuring secure communications to or from staffers' homes.
-
Virtual Desktop Infrastructure for Banks
Cloud4C’s VDI Services help you deploy virtualized desktops across your end-user workforce to enhance the user experience, increase security and decrease costs across your organization. We ensure the implementation of the design to accelerate deployment so users get the benefits of VDI with little to no delay and guaranteed success on Citrix and VMWare.
-
Managed Amazon Workspaces
While AWS WorkSpaces is a great DaaS solution, clients still have to build their preparedness to adopt it. This includes choosing the right tier of AWS offering, creating the right kind of WorkSpace to suit their requirements and managing the offering. Cloud4C team has more than a decade of experience in building and maintaining virtualized desktop environments including DaaS.
-
Managed Windows Virtual Desktop
Cloud4C is helping customers transition to a virtual workspace experience with ease and zero disruption with its managed DaaS offering on Microsoft Azure WVD. We offer configuration, installation, integration, UAT services to ensure readiness of the back-end cloud infrastructure. We also provide proactive monitoring, incident management, change and patch management, and service desk to ensure consistent delivery of superior end-user experience.
Leverage the knowledge of our IT modernization experts
Cloud4C - Key Differentiators
Regulatory approved security stack with 40+ Security controls tailored specifically for banks
Total ownership – Single SLA delivered at application login
Compliance to local data residency and sovereign norms in 52 global locations
End-to-End Cloud journey ownership including IT modernization and Migration
Flexible pricing model per branch, per transaction, per account, etc.
Our Success Stories
Europe-Based Challenger Bank
A Progressive Challenger Bank was replacing the Core Banking Solution (CBS) due to issues with the current CBS provider. Cloud4C provided a solution along with Gartner Magic Quadrant Leader app provider with single SLA at application login.
World's Largest FinTech Company
Multi-Tenant community Cloud created for Banks, resulted in 1/3 deployment time and 30% - 40% cost savings with a flexible pricing model for the World's Largest FinTech Company.
Leading Private Bank
Workspace Modernization solution provided to a leading private bank with a Private Cloud based VDI Solution (with scalable compute and storage options).
IT Modernization for Banks - FAQs
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What is core banking system?
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A Core Banking System (CBS) is a back-end system that processes daily banking transactions and posts updates to accounts and other financial records.
It typically includes deposit, loan and credit processing capabilities, with interfaces to general ledger systems and reporting tools. Leading CBS providers as EdgeVerve Finacle, FIS, Oracle FLEXCUBE Core Banking, TCS BaNCS, Temenos, SAP Banking and Financial Services, Fiserv, NCS etc.
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What is meant by core banking on cloud?
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It is high time banks stop investing in future legacy technology and move to core bank processing to the cloud. Moving core banking to cloud offers benefits such as infra savings, on demand scalability and agility, security and availability and not to forget making it future- workforce ready. Depending on their functionality and version compatibility with cloud, mainframe based applications that support core banking will need a target disposition assigned to them - Rehost, Replatform, Refactor, Rearchitect, retire and Revisit.
Sign-up for Cloud4 Banking Discovery workshop to know what suits you the best.
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What is driving core banking modernization?
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Banking CEOs, COOs, CIOs and other business leaders not only believe in but are strongly investing in cloud enabled, data-driven solutions to deliver acutely personal, digital customer growth campaigns and experiences, improved customer lifetime value initiatives and profitable revenue growth outcomes. Speed, scale and reduced risk is what they are demanding and the age-old reluctance to adopt public cloud for core banking systems is no longer existent. They are moving away from rigid, inflexible operating models with on-prem, legacy IT systems which fail to meet business needs, whilst consuming heavy IT budgets and driving ever-increasing IT technical debt. This creates an opportunity to achieve a ‘competitive edge’ to remain relevant by meeting increasingly demanding customer expectations in a crowded, digital banking marketplace. As a result, core banking systems modernization becomes a strategic imperative, for all kinds of banks.
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What is transformation in banking?
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Transformation in banking includes technology adoption such as embracing cloud as well as business process improvements be it through hyperautomation and RPA that enable banks to reduce their time to market, operational complexity and help them to deliver outstanding digital customer experiences.
Looking to take your bank sky-high?
Speak to Us.