The movement of data is the lifeblood of the financial services industry. That data must move fast, and be stored securely. The financial sector is dealing with an increasing volume of data to be managed, whether analyzing it for trading purposes or using cybersecurity software that monitors data for possible instances of fraud or noncompliance. As a result, the financial services industry’s reliance on data directly impacts the data center industry, and will continue to do so for the foreseeable future.
Electronic Trading and online banking Drives Demand
The shift to electronic trading and online banking has been a significant factor in the financial sector’s use of data centers. Trading happens all over the world, and data centers must handle the demand and perform consistently.
Data Centers Aid in Meeting Security and Compliance Requirements
Few industries are as heavily regulated as financial services. Failure to comply with legal requirements can result in costly fines, as well as expose an organization to the increased risk of a data breach. Whether it’s protecting personally identifiable customer information, keeping transaction data secure, or safeguarding proprietary applications, data centers offer a broad range of assurances for financial organizations seeking to mitigate risk.
Cloud computing can capture data through logging, then retain it for the required amount of time. Also, data centers can assist with access to data and store them for sorting later. In the event of data loss, many facilities operate around the world can replicate workloads to speed up the time it takes to achieve data recovery after failure.
Growing Storage Demands
Financial data makes up a sizable portion of this total as financial institutions are both generating and gathering massive amounts of data every day. Data centers provide an ideal storage solution for the unstructured data financial service organizations are gathering every day. The combination of innovative storage hardware and access to scalable cloud storage makes it possible to store and manage such high volumes of Data.
The Power of Financial Analytics
Of course, gathering and storing all of that financial data won’t do a company much good if they don’t have a way to analyze it. Sophisticated analytics platforms driven by artificial intelligence and machine learning can sort through huge quantities of unstructured data to identify trends and draw insights that would otherwise escape notice.
‘Financial Services Companies Need a Secure, Reliable and Scalable Data Center’
Today’s customers have too many options available when it comes to financial products and services for companies to take their brand reputation for granted. Unreliable, inconsistent services will struggle to keep customers and find opportunities to grow. By migrating their IT systems to a colocation data center that delivers low-latency connectivity and high uptime reliability, financial companies will have the solid footing they need to build the network services their customers expect from them.
With colocation and other Datacenter services, Servers and Colo delivers the “always-on” infrastructure that’s so essential for success in the financial sector. We combine a highly-secure and compliant data environment with world-class carrier-neutral connectivity that allows companies to connect their servers to leading cloud providers for maximum flexibility.