The recent “Great Recession” has caused turmoil across the country for consumers and businesses alike. The financial services industry has been especially hard-hit. Although financial institutions deal with recurring industry issues every year, they now operate in a new economic context after the financial crisis.
Some of the issues financial institutions face today include:
On top of these challenges, financial institutions must deal with regulatory issues, such as the Dodd-Frank Wall Street Reform and Consumer Protection Act. In the aftermath of the financial crisis, regulators continue to implement risk management reforms, like Dodd-Frank, that are designed to create greater transparency and stability in the global banking system. This new environment changes how financial institutions run their businesses and especially how they measure and manage risk.
Technology can help banks and other financial institutions address these industry issues. However, keeping up with technological innovation presents a challenge by itself. According to a PwC CEO Survey, nearly 60% of industry leaders view the speed of technological change as a threat to their growth prospects.
The rapid shift in technology and customer expectations require financial institutions to address projects such as:
CyrusOne’s colocation solutions are designed to accommodate the diverse requirements of financial institutions and help provide a strong foundation for industry challenges.
Federal Cloud adoption is on the rise thanks to FedRAMP Authorization. | The big buy-in… MORE >
Federal government agencies face many of the same challenges enterprise organizations face. The top priority,… MORE >
Bigger companies have bigger problems. It goes with the territory. These enterprise-based challenges permeate all… MORE >
Two heads are better than one. So are two clouds. That’s the lesson cloud service… MORE >
Years ago, when someone asked if your money was safe, it conjured up images of… MORE >
Bankers, lenders, traders, lend me your ear. Financial institutions of all kinds are facing a… MORE >
Companies can leverage cloud interconnectivity with greater efficiency, and tap into the fabric of cloud… MORE >