The OGO Blog

Hidden Credit Union Business Issues Solved by Moving to the Cloud

There are so many credit union business issues solved by moving to the cloud. First, it’s highly scalable. Second, it makes software updates easier. Third, it really helps with disaster recovery. Fourth? It sounds cool.

However, there are a couple significant credit union business issues that aren’t immediately obvious. So, while it’s important not to lose sight of the most salient, tangible plusses of the cloud, we offer you a few more!

Get IT Involved

Before the cloud, IT has to do everything in-house. They had to maintain, troubleshoot, patch, and track the warranties of infrastructure. Managing daily operations is a big job that can easily tax the resources of any credit union.

Keeping IT issues in-house is a lot of work, and as a result, most in-house IT staff are siloed. IT and business interests can’t align in those conditions.

However, going to the cloud frees up IT staff time. IT staff who move into the business side of things can provide more member-facing value for their credit union.

One of the best side effects of getting your IT staff involved with the business side of things is that they feel more motivated. For one, it adds intriguing new possibilities for them. Second, it breaks up the monotony of routine IT responsibilities.

Lock Down Security

Many credit unions are concerned about the security of the cloud. While it’s a great concern—credit union information security is our “thing”—it’s almost a non-issue.

In fact, credit unions tend to see higher levels of security in the cloud that out. This is due to a few reasons:

  1. Most hosted solutions are built specifically with security in mind, while on-premise networks are not.
  2. Data access and restrictions are more important than data location when it comes to data security.
  3. Democratizes the security process so that knowledge isn’t the sole property of a handful of IT professionals. IT turnover doesn’t hamstring security services.

Ultimately, by using robust security practices, cloud computing is actually more secure than on-premise networks.

Just because a credit union controls the physical locations of data doesn’t mean they’re more secure. A study on cloud security reveals that

“On-premises environment users experience an average of 61.4 attacks, while service provider environment customers averaged only 27.8. On-premises environment users also suffered significantly more brute force attacks compared to their counterparts.”

So long as your cloud system is built with security in mind, your credit union will be more secure than it would be in an on-premise network.

Other Benefits to Cloud Computing

Cloud computing has numerous benefits for credit unions. In our opinion, it’s easy to focus on issues like scalability and disaster recovery. They are without a doubt some of the most important considerations for moving into the cloud.

However, though there are IT professionals out there who remain skeptical, cloud computing is also more secure for credit unions. Plus, aligning IT and business interests is a necessary step toward streamlining and optimizing many member-facing services.

If you’d like to read more about disaster recovery or cloud computing for credit unions, follow the links below.

How To Use Your Credit Union Business Impact Analysis (BIA) Results

Credit Union Business Continuity Planning vs. Disaster Recovery: What’s the Difference?