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Evaluating Cloud Computing? Get Your Board on Board
Many executives and IT professionals at community banks today see the benefits of cloud computing, and how it can change the way community bank's interact with their customers and members. But getting your board to understand this technology and embrace it may be a challenge. In this white paper, we'll discuss key areas you must address with your board and provide guidance on how to explain each topic to a non-technical audience. The key areas covered include: the regulator's view, security of customer and member data, business decision, enhanced customer service and due diligence.
Compushare C3 FAQ
As the first and only organization to build a cloud computing platform designed specifically for community banks, you can imagine the high volume of questions we receive. It is important for community to be aware that not all cloud computing solutions are created equal. Answers to questions that may seem general in nature are usually very dependent on the specific type of cloud computing solution. While it is difficult to write an FAQ on the topic of cloud computing, this white paper will provide very specific answers to the most frequently asked questions about the Compushare C3 cloud computing solution.
Find the answers to questions such as:
Is cloud computing right for all community banks?
Is cloud computing secure?
How are systems backed up?
Why should community banks consider cloud computing?
Learn the basics about Cloud Computing and how it can address these challenges:
Lack of economies of scale
High and uncontrollable capital expenditures
Long deployment cycles
Difficult upgrade cycles
Expensive resource requirements
Costly and complicated recovery solutions
Lack of secure and audit-friendly remote access
Lack of standardization
Lack of scalability
Expensive hardware refresh cycles
Practical Cloud Computing
"Cloud computing" has become a broad topic with many different definitions and interpretations. The following white paper clarifies some of the confusion surrounding cloud computing for the financial industry and specifically defines the differences between, Public, Hybrid, Community, and Private clouds.
FFIEC and Cloud Computing
In July of 2012, the FFIEC released a four-page Outsourced Cloud Computing resource document for informational purposes. The following white paper addresses the following information from that 4 page document:
Subject matter in the FFIEC resource document
Reviews the statement point by point
Evaluates the risks and merits of outsourced cloud computing
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