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Cloud Concentration risk – what it is and how to mitigate it
Cloud Concentration risk – what it is and how to mitigate it
Cloud adoption is accelerating in the finance sector as changing customer expectations push banks and other financial institutions to emulate the speed, agility, scalability, and efficiency of cloud-native organizations. But while cloud adoption is highly beneficial, it does raise the risk of cloud concentration. So if you’re looking to adopt a multi-cloud strategy supported by resilient connectivity, this checklist outlines four capabilities you must be able to tick off in order to mitigate this risk.
- Distributed infrastructure
- Provider diversity
- True redundancy everywhere
- Stable and secure connections
- Digital sovereignty
- Hybrid and remote working
A distributed cloud exchange
With cloud adoption accelerating in the finance sector, and over-reliance on a single provider likely to be a greater regulatory concern moving forward, now is the time to address cloud connectivity. A distributed cloud exchange platform with secure connectivity can deliver these four components, supporting an effective multi-cloud strategy and mitigating cloud-concentration risk.
To make a multi-cloud environment even simpler to manage, you can use a distributed cloud exchange platform with a self-service portal and API automation. This gives you the flexibility to book bandwidth as and when it is required, and automatically scale in times of unexpected need.
