Hybrid Cloud Computing
As technology continues to evolve, the need for strong fraud strategy management becomes even more apparent. Banks need to have the necessary software in place to keep sensitive data protected, while also having education programs available to employees. If an organization’s workers don’t understand how to use certain approaches to risk management, then they will have a more difficult time avoiding breaches.
One recent breakthrough in fraud protection is a “hybrid cloud.” According to American Banker, this is “a cloud computing environment in which an organization provides and manages some resources in-house and has others provided externally.”
For example, application development and testing could be done in the standard cloud software, while core processing is still done on a business’ core servers.
Celent analyst Gareth Lodge explained to the news source that the benefit of a hybrid cloud is that even though processing takes place on a wide open platform, part of the process or value chain is run privately. This will help keep customer data in a private cloud, and hopefully avoid any major risks.
“There’s still that real fear of what happens if the customer data gets out there,” Lodge said. “And quite rightly so. For many banks, the fear of loss of control, loss of data, that whole governance piece is still by far the biggest mental barrier.”
Regardless of whether your organization is ready for a hybrid cloud option, it is critical to understand the types of risk management that will best benefit the company. With comprehensive and current fraud protection software, financial institutions can be sure that they are taking the necessary steps to keep their data—and that of their customers—safe.