Banks, regardless of size, are capitalizing on new cloud technologies in order to remain competitive. This shift in IT strategy delivers the cost-savings, flexibility, efficiency and compliance necessary to facilitate the digitalization of the banking industry and keep up with the needs of the changing industry dynamics and new compliance regulations.
By utilizing cloud-based IT resources, including storage, hosting, disaster recovery and backup to name a few, financial institutions of all sizes are able to reap many benefits that help them remain competitive.
Benefits of Cloud Computing for Banks
With cloud computing, banks no longer need to invest in proprietary infrastructure. Instead, organizations can access and maintain their data through their provider’s cloud environment. This cuts down on both the up-front capital costs associated with hardware along with operational costs in the form of power, cooling, maintenance, etc.
Rather than pay a flat fee to keep systems up and running, cloud providers offer a variety of metered, pay-per-use options.
With cloud computing, staffing costs are also greatly reduced. Internal teams no longer must worry about hardware refreshes or server and software updates, freeing up their time to focus on what matters most: their business. Cost savings can also be reinvested into the business to increase headcount, boost wages and drive product innovation.
Flexibility and Scalability
With a move to the cloud, banks can respond quickly to changing market, customer and technological needs. If needs change, it is easy to scale cloud capacity up, drawing on the service’s remote servers while also being able to decrease usage if need-be. Banks are also able to maintain their competitive edge with the ability to rapidly deploy new projects and quickly take them live.
Cloud technologies boost security in ways that on-premise systems are unable to. Cloud computing can provide greater security compared to traditional platforms, especially for smaller banks that have limited IT budgets. Banks typically use a patchwork of solutions for their core processes, which due to the need to provide ever more internet and mobile access to clients, as well as flexibility to the banks’ workforce, becomes more exposed to cyber threats. Cloud platforms are developed with connectivity in mind and by specialized companies with very little legacy constraints, which makes them more secure. Encryption services also provide additional layers of data encryption for applications that cloud service providers do not control, thus keeping data secure at all times, wherever it is stored. Finally, with strict protocols and security certifications like SOC2 and ISO2001 built into many services, banks can ensure the cloud is accessed and enabled securely for any solution provider they work with.
Simply put, cloud computing provides a high level of redundancy, recovery and back-up at a lower price than traditional managed solutions. Cloud technologies provide a high level of data protection, fault tolerance, and disaster recovery, providing a more reliable business continuity solution due to the distributed nature of storage and processing, the ability to shift data more quickly and the remote accessibility of the cloud in the event of a disaster.
ColoSpace: New England’s Most-Trusted Banking Cloud Provider
In the age of banking digital transformation, cloud technology can deliver the total package: quick deployment and faster go-to-market innovations at a fraction of the cost of on-premise, while maintaining security and compliance standards. These benefits have also put small, local banks and credit unions on a level playing field with the big banks, who are struggling to keep up as they are being bogged down by legacy systems and silos.
ColoSpace has been a trusted advisor to consumer banks for over a decade. As a result, our suite of Cloud, Data Center and Managed IT Services have been designed from the ground-up to assure that consumer banks remain competitive in today’s market.
Amazon Web Services (AWS) is a revolutionary and versatile suite of tools that enables organizations to leverage the cloud's power and flexibility. AWS users can develop and run their own apps on rented virtual clusters of computers, and use scalable object storage through Amazon's S3 platform.
The list of available AWS products goes beyond computing and storage to include networking, content delivery, contact center, analytics and more. In total, AWS current has 67 active ISO-certified services. The staggering available choices can be difficult to navigate without the assistance of an experienced AWS management partner. Beyond choosing the correct AWS product for your organization, it's important to manage and monitor your AWS for optimization and in order to avoid potential problems. ColoSpace provides managed AWS solutions, where cloud services are designed, deployed and supported by proven AWS experts.
There are five areas in particular where organizations can benefit from ColoSpace's Managed AWS:
- Cost Management
- Network Performance
- Keeping Up with AWS Ecosystem
- Unwieldy Scaling
The first step in addressing AWS security is to develop a security plan in advance of deployment. By strategizing security first, your organization has a valuable opportunity to integrate security into all of its practices. In addition, properly implementing a secure AWS environment requires a complete understanding of where Amazon's responsibility ends and where yours begins. A service provider like ColoSpace is able to identify your vulnerabilities and suggest security solutions after performing an analysis of your organization's needs.
Keeping a Sharp Eye on Costs
A main benefit of AWS is the ability to pay only for the computing, storage and other services that you use. This on-demand, pay-per-use platform saves costs, if managed properly. Surprise charges can occur if you do not fully understand your billing arrangement. Exceeding free-tier usage, free-tier expiration, and some automatic launching of services by other services can affect your billing.
AWS employs BGP in its traffic routing. As a traffic routing solution, BGP looks for the most logical path for network data. The most logical path is not necessarily the quickest. Managing and monitoring AWS may require reconfiguring routing, or ensuring that your user experience is optimized based on any potential network bottlenecks.
Keeping Up with a Changing Ecosystem
AWS products change often. So it makes economical sense to have ColoSpace as your trusted partner, overseeing your AWS management and helping you keep up with the latest changes. You benefit from ColoSpace's knowledge and expertise in the latest innovations and product offerings from AWS.
How Big is Too Big?
Some AWS services, such as EC2 Computing, permit auto-scaling so that usage can be scaled out or dialed back down based on pre-set conditions. Like many AWS tools, this can save costs and boost performance. However, as with any tool, it can be poorly used as well. It's important for your scaling conditions to be optimally set based on your needs. These conditions should also be revisited periodically as your needs change.
AWS offers numerous benefits for organizations. ColoSpace's end-to-end AWS solutions help customers maximize these benefits. Contact ColoSpace to learn more about AWS security, scalability, optimization and cost savings tailored to each individual customer.
As part of a suite of managed services, managed Domain Name Service can bring incredible value to an enterprise. This is because DNS is quietly one of the most important points of access for any business with an online component—as well as one of the most vulnerable to failure and compromise.
What is DNS?
DNS, simply put, allows a user to navigate to a website using a name rather than internet code. Once a business registers a domain, with that domain comes a variety of other responsibilities and options, not least of which is maintaining DNS infrastructure.
Why Managed DNS?
While many free domain registrars may provide some basic functionality—for more advanced functions and enterprise-class performance, it makes sense to opt for a managed DNS provider. This is because, like data center operation and server maintenance itself, DNS management is a full-time job and downtime is extremely costly. Enterprises can't afford to use "Free" DNS services because they are not built for efficiency and performance.
To ensure peak DNS performance, uptime, and speed, redundancy is key. Colospace's Managed DNS partner, Dyn-Oracle, offer services through a network of DNS servers deployed globally and 24x7x365 domain monitoring from multiple geographic regions. Hosting a domain on internal DNS servers presents a single point of failure, invites a host of security threats, and adds unnecessary latency to virtually every web, e-mail, and other Internet transaction.
How can ColoSpace help?
ColoSpace has partnered with Dyn-Oracle, the largest privately owned DNS provider in the world, and now provides all of its customers managed DNS via Dyn-Oracle's industry leading platform. Dyn-Oracle helps manage traffic for users all over the world, ensuring 100 percent uptime due to its superior infrastructure redundancy.
All ColoSpace, customers receive this service at no additional cost and also have the opportunity to upgrade to some advanced features, including:
High Availability with Failover
• Your application is monitored 24x7x365 from multiple geographic regions
• If an outage is detected, traffic is automatically rerouted to an alternative server, data center, or maintenance page
• Service ensures your site or application is always available with no manual intervention required
• This capability addresses service interruptions caused by application failures, infrastructure failures, or regional network issues
Global Server Load Balancing
• Balance your site/application traffic load between servers and data centers for optimal response times
• Easily modify configuration as infrastructure grows and changes
• Ideal for websites or applications with growing or unpredictable traffic patterns
• Start with load balancing from the beginning rather than when you reach a capacity limitation
Geographic Load Balancing
• Use advanced Geolocation technology to route application traffic based on user's location or language
• Route traffic based on additional parameters including site performance
• Target country/state and setup failover configuration to ensure uptime and performance
• Most granular targeting of site traffic available today
To find out how ColoSpace can bring unparalleled performance, security, and availability to your enterprise, get in touch today.
In the event of a disaster, it pays to have a plan. For businesses that are dependent on business applications and their data, the loss of a server can be devastating and bring business operations grinding to a halt. This makes disaster recovery (DR) solutions invaluable for maintaining business continuity after an unforeseen event.
Thus, DR services are utterly indispensable for many businesses. With many DR recovery solutions, data and software are copied automatically to a backup server, essentially cloning the information held on the primary server. In a case where one server goes down, the other has an exact copy of the data ready to be used, limiting downtime and protecting against losses.
Beyond traditional DR solutions, more and more companies are turning to the cloud. One of the biggest use cases for the cloud is for backup and disaster recovery. It adds up to one thing: Organizations are counting on the cloud to make sure they retain access to their critical corporate data.
According to a recent survey, 50% of companies are using cloud-based DR solutions, and backup is the 2nd most widely-used application of cloud computing, with disaster recovery coming in 7th.
So, why the big push towards cloud DR? As with many other cloud-based applications, Cloud DR’s benefits outweigh those of traditional computing methods. Here are some of these benefits.
Saves Time and Money
Everything that you previously built and managed (or were planning to) in preparation for a disaster goes away– the second data center facility, the additional staff, servers, and other infrastructure – all gone!
Cloud providers only charge you when services are being used. So instead of incurring all of the aforementioned costs required to build and maintain duplicate data centers, you’ll pay only a fraction of that when backing up your applications in the cloud.
And if you never have to deal with disaster (knock on wood), your costs will be even lower.
Cloud services can be easily scaled up to meet demand as needed. With traditional, you had to make sure that you had enough server capacity in your duplicate data center to meet demand.
With the cloud, scaling capacity is simple, quick, and more cost effective, ensuring that your customers will have a great user experience even in the case of a disaster.
Faster Response Times
Using the cloud also means that organizations can respond more quickly to a disaster, sometimes in as little as a matter of minutes. In fact, companies can actually recover from a disaster within the cloud itself, using cloud orchestration and automation tools to automate the in-cloud recovery process from end to end.
Recovering from a disaster within the cloud also means that organizations don't need to take the time, processing, and cost associated with recovering everything from the cloud to on-premises. That way, recovery can be limited to critical data, further reducing costs.
Easily Implemented With High Availability
Disaster recovery solutions are relatively easy to set up in the cloud, especially compared to setting up a duplicate data center. Organizations don’t have to purchase and deploy backup servers, drives, and disks. Rather, they can easily and instantly deploy a cloud storage solution such as Amazon S3 to back up your data, or even tier your backup with longer-term data storage solutions like Amazon Glacier to lower costs even more.
And it’s extremely easy to restore your infrastructure quickly if your app is backed up in the cloud.
There’s no more dealing with transportation and restoration of backup tapes to get your application up and running again. When using the cloud for DR, you can access all of your data through the internet much more quickly and easily.
Simply put -Disaster recovery is just much easier in the cloud!
After realizing all of the benefits of a cloud-based disaster recovery solution, the key to effectiveness is partnering with an experienced service provider. ColoSpace has worked with hundreds of firms to implement cost-effective Disaster Recovery Solutions to safeguard their data and protect their worker’s productivity in the event of a failure.
When evaluating risk it is easy to think about failures due to catastrophic weather events or terrorism, but far more common is the every day disaster that can happen from hardware failure, software glitches, or cyber attacks.
Going without a DR solution means that your company or organization is deeply vulnerable in the event of a disaster. To learn more about ColoSpace’s enterprise-class disaster recovery solutions, contact us today.
Considering AWS but have some concerns? Already made the investment but in over your head?
A move to the cloud provides a wealth of opportunity but with these opportunities come many new challenges, creating a distraction from one’s core business focus. Getting the most out of an AWS investment requires a team of specialists with proven experience designing, building, managing and optimizing cloud services across multiple disciplines.
The Amazon Cloud is growing ever more complex with an expansive line of products that can be combined in innumerous ways to create a single solution. Users of the Amazon infrastructure must not only be an expert in the AWS products and systems, but still maintain security, networking, server operating system, database, storage and backup expertise.
The most efficient way to optimize an investment in AWS and maintain business focus is to partner with ColoSpace, a certified expert.
ColoSpace specializes in end-to-end AWS solutions with an emphasis on security, scalability, optimization and cost savings tailored to each individual customer. We rely on our comprehensive cloud service expertise to provide in-depth knowledge across AWS’ full suite of services. ColoSpace is a trusted team member, providing customers of all sizes with AWS design, deployment and management so that they can focus on their business.
Managed Amazon Web Services Include:
- Design and Consultation
- Deployment and Migration Services
- Continuous optimization
- Fully Managed 24/7 Support
- Multi-tiered Monitoring Solutions
- Custom Cloud Projects
For more information on how ColoSpace can help with your cloud journey, please Contact Us.
In almost every technology discussion, no matter what the topic, the Cloud seems to make its way into the middle. You will most likely hear about the substantial business and technology benefits for moving to the Cloud. While most IT professionals would agree that cloud computing is advantageous, the most common concern is how to make the move to the cloud. As an end-to-end provider of colocation and cloud services, we have seen many companies that are either completely petrified of moving to the cloud or ready to jump-in head first with an all-or-nothing approach. To assure a smooth cloud transition, companies should follow a roadmap outlining gradual adoption. While each roadmap is different, Colocation has continued to play an important role in the journey to the cloud.
Outsourcing some data and applications to a colocation facility is a great first step for those who are worried about letting go of some of the day-to-day control of their IT assets. Colocation allows businesses to maintain ownership of their IT systems without having to invest in space, power, cooling, and physical security. Colocation also optimizes the use of legacy hardware that companies don’t want to waste. Businesses can co-locate depreciating servers at a secure data center while accessing virtual machines on an as-needed basis and building their cloud footprint. Furthermore, businesses that leverage the use of experts to manage assets enable their IT team to focus on more strategic and operational efforts. They can then start gradually moving applications little by little to the cloud.
By partnering with ColoSpace, an end-to-end provider of colocation AND cloud services, businesses can simplify their cloud journey by leveraging our breadth and depth of expertise, 24×7 support and security and regulatory compliance standards to implement a flexible, scalable and cost-effective cloud platform. Furthermore, ColoSpace’s expansive service offering assures that as a business’ strategy evolves, so do we, assuring that no IT investment ever goes to waste.
For many, colocation is more than a step towards the cloud. It can be an important component in an overall IT strategy. It offers many of the same benefits as the cloud and provides an easy way to connect to it, all while helping you meet changing business needs without throwing away your investment in existing IT assets.
In Part Two, we will discuss Colocation’s role as the foundation of the perfect Hybrid Cloud environment.
As part of a suite of managed services, managed Domain Name Service can bring incredible value to an enterprise. This is because DNS is quietly one of the most important points of access for any business with an online component – as well as one of the most vulnerable to failure and compromise.
What is DNS?
DNS, in its simplest form, is like a phone book for the Internet. It allows you to look up a person or businesses name and find their contact information. Once a business registers a domain, with that domain comes a variety of other responsibilities and options, not least of which is maintaining DNS infrastructure.
“DNS is like an Internet phone book.”
The way we live and work is changing rapidly, driven by an influx of Millennials entering the job market. As of 2015, Millennials represented the largest generation currently in the U.S. workforce, and their expectations about what a workplace can be — alongside evolving technology — have led to a radical shift in work flexibility. And the one tool that is poised to make the job of the future a reality is desktop as a service (DaaS).
“DaaS provides streamlined, cloud-based access to operationally-vital applications from anywhere, on any machine.”
As we’ve written before, more businesses are becoming increasingly reliant on cloud services for their key operations. On average, many organizations use around four separate cloud services like email, backup, file-sharing and CRM. These features can increase efficiency and take the headache out of having in-house IT managing applications internally. But enterprises are constantly looking for more consolidation — with 56 percent of organizations saying they would prefer a single source for their hosted IT.
This is where Desktop-as-a-Service, like what ColoSpace offers comes in. DaaS combines desktop, applications, data and IT services into a single cloud solution, enabling users to access all of their apps and data — cloud or local — from a hosted desktop on any device — Windows, Mac, tablet or smartphone — from any location.