MONOCLE INSIGHT

Cloud Adoption and Migration

Stories>Cloud Adoption and Migration

Everyone is talking about cloud computing, and for good reason. The cloud is revolutionising the way computing power is created and consumed, the way information is stored and accessed, and the way in which we work and connect. A key driver for cloud adoption in the financial services industry is the flexibility, scalability, and cost efficiency compared to traditional hardware configurations and license-based software products. However, there are a myriad of other benefits to cloud-based solutions, including increased productivity, better collaboration, and the cloud’s always-on availability.

Seeking these significant benefits, many of Monocle’s clients have enlisted our expertise in the migration of their critical financial and risk processes and the underlying data into a cloud environment, which in the long-run has resulted in significant cost savings related to IT support, data processing, and data storage. Significantly, Monocle does not just have experience in cloud migrations, but specifically, we have led the process to implement critical and complex software products and systems into the cloud, including capital and liquidity calculation engines that go beyond merely the storage of data in the cloud, but which include also the coding of intricate calculations for the cloud environment. Many of these projects are the first of their kind for these large financial institutions, because the specific systems and processes in question were previously considered too complex to move into the cloud.

Monocle’s clients ultimately trust us with these complex projects because we have the combination of technical skills and deep industry knowledge, particularly pertaining to financial industry regulations, that provides the ideal blend of experiences and expertise to get the job done.