Speed is a matter of life and death when it comes to financial markets. The emerging local crises and global ones can drastically contribute to the volatility of the market. This is why businesses need to be strong enough to react quickly to the changing market. A delay of even milliseconds means that you have lost money.
Financial businesses are unable to react quickly because they have to protect their customer’s financial information. However, now you can effectively enhance your performance without having to let go of security. Here are the solutions that offer performance with security.
1) Low-Latency networks
Financial institutions require low Latency Connectivity | Secure Connections for Financial Markets. When it comes to the transfer of financial data, lags and slow speed can diminish the operating power of financial institutions. Latency means important financial decisions supported by incomplete or outdated information may be made. So with fiber optics, the high-speed network will assure a low latency level.
Fiber optics allows the transfer of data at the speed of light. Various information is moved along many wavelengths; thus, a large data volume can move at the same time at impressive speeds without any lags. Moreover, fiber optics networks allow easy scale up and down.
2) Infrastructure as a service
In addition to a fast data transmission system, the applications used to communicate with clients, analyze information, and execute transactions should also operate effectively and rapidly while keeping crucial information safe.
A strong cloud computing infrastructure will ensure that these applications run smoothly and rapidly and meet the requirements of applications in terms of performance. Infrastructure as a service provides high storage with enhanced input/output operations per second. Not only that, but it also ensures high availability computing to improve customer experience.
3) Encrypted cloud storage
It is also crucial to keep financial data safe when at rest. Financial information usually becomes the target of hackers who commit theft and fraud. But cloud storage allows effective storage of financial data with security measures.
Encrypted cloud storage makes it easier to store data securely. The data can be encrypted and then decrypted when needed. Ensuring that you have cloud storage from a good provider, they will provide additional security layers and encryption.
4) Encrypted wavelength
Speed is mostly affected because most encryption solutions offer protection of data at layer 2 or higher. Not only that, but it also causes an increase in latency rates and a lower performance speed at layer 1.
This can waste time and thus is not acceptable in the financial institution. So with the use of encrypted wavelength, you can not only protect data at the transport layer but also improve performance speed. This allows quick action because it is low latency.
As both the financial institutions and customers rely more and more on digital and mobile banking, it is crucial to find ways to enhance speed while keeping data secure. Many institutions are specialists in cloud and connectivity solutions. Solutions like encrypted cloud storage, encrypted wavelength, and infrastructure improve performance while maintaining security and thus are crucial for the financial industry.