When discussing innovation and technology, it is difficult not to mention cloud computing and the financial market. The financial sector is one of the sectors that most consume technology; more than that, it is one of the sectors that most drive its advances.
In this context, the concept of cloud computing also began to be used in this market. With its various benefits, the gains are significant, especially regarding information security, as we will see later.
In this article, we will discuss the relationship between cloud computing and information security to demonstrate how this concept has directly impacted this issue in the financial market. So, if you still need to learn how this occurs, read on and find out!
The Relationship Between Cloud Computing And Information Security
Anyone knows that information security is fundamental for any person or company. However, this is a question of order in the financial market, which must be placed above many other variables.
The dynamics of bank operations have been constantly changing as technology advances. In recent years, the automation and digitalization of services have been among the trends in this sector.
Many institutions are massively exploring digital media to carry out their activities. This trend increases even more, the need for safe environments since the migration to this market model is already a reality!
The emergence of digital banks, fintech, and the entry of big techs in the financial market makes it clear how competitiveness, which is already great, tends to increase, as the costs of services on digital platforms are significantly lower than conventional means of services banking services, which will certainly lead to more companies starting to operate in this model as well.
Such factors clarify the relationship between cloud computing, information security, and the financial market. This market has demanded even more innovative and efficient solutions for managing information that travels between the client and the company.
As we know, virtual environments have many vulnerabilities and are subject to intrusions and attacks by malicious people. However, cloud computing has been the strategy used by banks to overcome this problem.
The application of cloud computing in the financial market brought much greater security to transactions virtually. For this, the following characteristics confirm:
Within information security, an extremely important factor is availability. Cloud computing ensures this essential, so data is always within reach when needed. However, more than just making it available, the best thing is restricted access.
Another important point about mastering information in cloud computing environments concerns the integrity of the files circulating through their bases. Thus, this concept guarantees that all data will remain intact and unchanged unless an accredited person does so.
This is one of the most important values when dealing with financial institutions. Dealing with valuable and confidential information of an indefinite number of customers requires top priority to this factor to guarantee the company’s reliability.
Cloud computing currently provides a safe environment, ensuring the confidentiality of all information circulating through it. Which directly strengthens the image of the institution that employs her.
Factors That Enable Increased Security
All the variables mentioned above are possible thanks to the cloud structure, which is completely thought out and developed so that security breaches never occur. Banks, aware of this differential, took little time to use the benefits of cloud computing.
There are several cloud providers available to banking institutions. For example, we can mention Microsoft Azure, one of the most robust cloud access platforms that, like others on the market, uses factors such as those we see below to guarantee information security. Let’s see:
User Identity Management Systems
In cloud environments, there is an intense concern to ensure that access to information is made only by the accredited person. Thus, a series of systems ensure that this verification takes place in the most reliable way possible, preventing strangers from accessing confidential data.
Use Of Cryptography
Data security and encryption go hand in hand, and we know that. However, in cloud computing, this factor is taken even more seriously.
Different security protocols and data encryption are used to transport information so that file traffic is safer and more reliable.
In cloud providers, threat management is done all the time. This allows inconsistencies in these areas to be identified and resolved quickly, avoiding risks to information security.
In addition to the factors above, it should also be noted that a large part of cloud security is due to highly trained people managing its full-time operation to prevent intrusions and failures from occurring and to ensure that all protection mechanisms are operating accordingly.