“The financial services industry has discovered that adopting a cloud solution can deliver a faster time to market, greater infrastructure flexibility and a way to address complicated compliance mandates.”
Ranjan Singh, Vice President, Product Management, IPC
In his recent SiliconIndia article, “The Cloud and Beyond: The Next Wave of Fintech Innovation,” IPC’s Ranjan Singh discusses how the adoption of cloud technologies is also signaling the next wave of innovation in fintech. In particular, Singh looks at:
- Biometrics Beginning to Supplant Password Authentication – biometric technology is providing an important layer of security critical for keeping customer data secure.
- Mobile as a Business Norm – those traditionally bound to their desks to perform their jobs are now up and on the go, handling transactions in real-time and many times, on their mobile phones. Regulations are requiring that all communications that are intended to result in a trade are recorded and stored.
- The Right App for the Right Need – where there is a growing collaboration and innovation trend among trading and technology firms that are partnering with companies possessing both the industry expertise and development platforms to meet specific app needs.
“While regulatory requirements for financial firms are not expected to wane any time soon, they are inadvertently furthering a new age in technology innovation, collaboration and progress. Companies that have already adopted a cloud strategy should be mindful of these emerging technology trends, but the entire industry needs to recognize their influence and future role.”