Designing a Comprehensive Cloud Migration Framework for High-Revenue Financial Services: A Case Study on Efficiency and Cost Management.
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Designing a Comprehensive Cloud Migration Framework for High-Revenue Financial Services: A Case Study on Efficiency and Cost Management
December 6, 2024
We don’t usually share research papers – they’re not exactly light reading – but this paper about cloud migration in the Open Access Research Journal of Science and Technology caught our attention.
“This review presents a comprehensive framework for cloud migration, specifically tailored to address the unique challenges and regulatory requirements of the financial sector. By integrating best practices in cloud strategy development, risk management, and performance optimization, the framework aims to facilitate a seamless transition from legacy systems to cloud environments. This explores key phases of the migration process, including assessment, strategy development, phased implementation, and ongoing optimization. Emphasis is placed on critical factors such as regulatory compliance, data security, risk mitigation, and cost management.”
The paper also includes a case study of a high-revenue financial institution which “highlights practical challenges encountered during the migration, such as data integration and latency issues, and illustrates solutions for overcoming these barriers. Post-migration results show measurable gains in agility, scalability, and cost reduction, while maintaining stringent compliance with industry regulations. The findings underscore the importance of leveraging cloud-native tools, automated monitoring systems, and cost optimization strategies like rightsizing and auto-scaling.”
These findings agree with what we have seen when we help our clients migrate to the cloud. While each client’s journey is different, determined by their own existing infrastructure, legacy technology, and more, the depth and breadth of our experience across healthcare, banking, insurance, and telecom, allows LEAP to deliver a seamless migration to the cloud.
If you’d like to find out how we can help your company make the leap, contact us and let’s talk.
Read the research paper, “Designing a comprehensive cloud migration framework for high-revenue financial services: A case study on efficiency and cost management” by Omoniyi Babatunde Johnson, Jeremiah Olamijuwon, Yodit Wondaferew Weldegeorgise, Olajide Soji Osundare, and Harrison Ekpobimi.