As the world is moving towards digital transformation, it is no surprise that the growth of the financial services and Professional Service sector has brought about the need for more personalised cloud solutions, often referred to as “bespoke cloud”. Unlike generic cloud offerings, bespoke cloud solutions are tailored specifically to the unique requirements of financial institutions enhancing flexibility, security as well as compliance. We focus on the need for bespoke cloud solutions in the provision of financial services and the key benefits as well as considerations of this approach.

What is Bespoke Cloud for Financial & Professional Services?

Bespoke cloud solutions are unique cloud services and infrastructure specifically built upon the requirements of a certain financial institution. This helps most organisations to also keep their current systems within the company, maintain rules as well as adapt to their specific situations and regulations, and take advantage of the cloud’s ability of scaling and performance.

1. Wealth Management Platforms

Custom-built bespoke private cloud solutions can support wealth management applications, providing secure, scalable environments for portfolio management, risk assessment, and customer relationship management.

2. Real-Time Analytics

Bespoke private cloud infrastructure can enable real-time data processing and analytics, essential for fraud detection, credit scoring, and algorithmic trading, ensuring that financial institutions can react quickly to market changes.

3. Risk Management Solutions

Custom private cloud solutions can aggregate and analyse data from various sources to enhance risk management practices. This includes tailored algorithms that assess market risk, credit risk, and operational risk.

4. Compliance Automation

Bespoke private or hybrid cloud solutions can integrate compliance tools that automatically monitor transactions and data flows for regulatory adherence, reducing manual oversight and potential compliance risks.

5. Mobile Banking Applications

Custom cloud infrastructures can support mobile banking applications that require high availability, security, and performance, ensuring customers have a seamless experience across devices.

The implementation of tailored solutions in the cloud be it private or hybrid is transforming the financial services space by providing the suitable technology to cater for the needs of financial and professional service institutions. With improved security, integration, and the provision of customised services, bespoke cloud solutions enable organisations cope with the challenges of the current financial environment. Therefore, developing a custom cloud approach will optimise the operations of financial institutions, enhance innovation in service delivery, and improve the level of customer service. At Acklo we appreciate that every deployment is different and the intricacies that a deployment in the financial and professional service sector requires – contact us today to discuss your project.