Breaking down complexity in monitoring multi-cloud environments in the financial sector
The financial sector has proven agile in adopting multicloud environments to boost operational efficiency and enhance customer experience. In fact, according to Dynatrace data, 99% of financial institutions have already implemented multi-cloud environments to ensure optimal performance of their applications and systems.
A multi-cloud environment, also known as a multi-cloud environment, refers to an IT infrastructure that incorporates multiple cloud service providers to meet its needs for computing, storage, networking, as well as other cloud-related services.
When a financial institution operates with a multi-cloud architecture, it means that, instead of relying exclusively on a single cloud service provider, it combines private and public cloud services to efficiently manage different workloads.
While there are many advantages to using a multi-cloud architecture, there are also significant challenges. One of the major concerns is the difficulty in monitoring and managing infrastructures with resources distributed in multiple locations.
On average, according to information collected by Dynatrace, financial institutions use 7 different solutions to monitor their multi-cloud infrastructure. Furthermore, 64% of financial leaders consider that this number of tools is too high and that using them affects the performance of the infrastructure.
“Multi-cloud architectures are critical for financial institutions to keep up with growing customer expectations by providing the agility needed to innovate faster and continually optimize services. However, teams are struggling to manage these complex multi-cloud environments, requiring time that could be invested in driving digital transformation and delivering the high-quality experiences that customers want,” says José Matías, Director of Iberia at Dynatrace.
The importance of having multicloud environments within the financial sector was also evidenced in the Enterprise Cloud Index (ECI) report. As per this report, improving the speed of data access is the main reason for investing in this type of technology, followed by the desire to enhance security and meet regulatory requirements, as well as the interest in integrating new native features and services. the cloud (such as artificial intelligence and machine learning).
Advantages of monitoring multicloud environments in the financial sector
Monitoring multi-cloud environments in the financial sector offers several strategic and operational advantages that contribute to efficiency, security and business continuity. Here are some of the key advantages:
- Ensures resilience and business continuity. Actively monitoring multi-cloud environments facilitates rapid identification and resolution of operational issues to ensure uninterrupted financial service. Furthermore, when one provider experiences disruptions, the financial institution can seamlessly and quickly migrate to another provider without jeopardizing business continuity.
- Helps optimize costs. Given the possibility of contracting multiple providers, organizational leaders can choose the most competitive, profitable rates tailored to their real usage needs.
- Extends access to dynamic scalability. Seamlessly scaling resources intended to meet fluctuations in operational demand is one of the benefits that multicloud environments offer. This flexibility prevents waste of resources and ensures financial efficiency.
- Facilitates regulatory compliance. Multi-cloud monitoring enables continuous auditing of cloud operations, which is essential to comply with regulations governing the financial sector. In turn, this enables you to generate detailed reports to show to auditors and regulatory bodies.
- Optimizes early detection of security problems. Constant monitoring of multi-cloud environments helps identify potential security gaps or operational anomalies early. This is essential for addressing and remediating issues before they escalate, as well as protecting the integrity of financial data.
- Improves access and control management. Multi-cloud monitoring ensures that only authorized individuals have access to the financial institution’s sensitive data and critical operations. Furthermore, constant visibility also allows for detailed logging of each access and action taken by the user.
- Elevates user experience. Constant monitoring of multi-cloud environments enables the detection of application performance issues before they impact end users. It also identifies points of congestion, excessive latency or slow loading times that impact the user experience.
What technology is used to monitor multicloud environments?
One of the leading technologies in providing comprehensive visibility, detailed analysis and efficient management of multi-cloud environments in the financial sector is Ikusi Full Visibility with ThousandEyes.
A solution that goes beyond fulfilling a real-time monitoring function to detect and solve operational problems. Its added value is observability, that is, the ability to understand the behavior of a system, its interconnections with the cloud and data center, with the aim of accessing a complete view of IT performance to provide effective and fast solutions.
“In the financial sector where every transaction and movement of data is critical, and the confidentiality, integrity and availability of data are vital, having complete visibility is essential to identify problems, detect anomalies and proactively take remedial action” , says Gustavo Valdez, general director of Ikusi México.
By implementing technology like Ikusi Full Visibility with ThousandEyes, the time to diagnose a problem in multi-cloud infrastructure can be reduced by up to 80%. Not to mention that the use of this type of technology makes possible a sustainable transformation, capable of promoting efficiency and innovation within the financial organization.
If you want to know more about this technology, you can consult here.