With Standard Bank leading the way, bank offices are making the move to cloud systems. This was an inevitable move. Across South Africa and beyond, almost every single sector has begun to adapt as new technologies emerge. Cloud systems have opened up a new way to do business, reaching customers more effectively and simplifying all areas of operations.
From Physical Offices to Cloud Systems
There are a few major reasons that banks are moving away from the traditional physical branch model to cloud systems. These include the following:
Increased data security.
Microsoft is an excellent example of the higher level of security that the cloud offers compared to in-house servers. Encryption and other layers of security enable data to be safely stored on the cloud, without the risk of physical damage, outages, corruption and other problems that can put servers at risk. Features such as access control ensure that highly sensitive data such as customer financial details can be kept securely.
Reduced overhead costs.
Cloud-based systems are extremely cost-effective. Without the need for server upkeep and management, data can be managed remotely. This saves on overhead costs and allows banks to reduce admin costs, too. Costs associated with human resources are also reduced, as there is little to no need for on-site employees. Management costs are reduced as well, simplifying all levels of operation without the high overheads associated with physical offices.
One of the biggest benefits that the cloud offers to banks and other businesses is improved scalability. Physical offices can grow larger and more branches can be opened, but it is much harder to scale than it would be with a cloud solution. Cloud tools such as Microsoft 365 and Azure enable all departments, from sales to IT to adapt to new technologies and global trends, giving customers more ways to bank online.
Contact iSSC today to find out how we can help you find the ideal cloud systems to take your bank to the cloud.