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Swift Cloud Migration: 3 Key Benefits for Your Institution

Financial institutions worldwide are migrating their core payment and transactional on-premise infrastructures to the flexible, reliable, and cost-effective computing power in the cloud.

According to a IDC market study, bank spending on cloud services is expected to grow by over 16% a year through 2024.

A key component of a financial institution’s transactional infrastructure is the connectivity to the Swift Network and the availability of solutions to run this key workload fully in the cloud.

At DiXiO, as a Swift and AWS Partner, we migrate the whole Swift infrastructure of financial institutions to the cloud, and then manage it for them, providing 24/7 availability in a safe and reliable cloud infrastructure.

 

To learn more about Swift in the cloud, check out our article – Fully Managed Cloud – Native SWIFT Connectivity with DiXiO Serenity, on the AWS Partner Network (APN) Blog.

 

With decades of experience with the Swift Network, we see many advantages to migrating to the cloud. That’s why in this article we want to share the top 3 benefits of migrating your Swift infrastructure to the cloud with DiXiO:

 

1 – Reduce Risks

When migrating your infrastructure to the cloud you can reduce 2 main risks:

 

Operational risk 

Ensuring High Availability and Business Continuity is essential for your SWIFT infrastructure. The Cloud brings native solutions to this, thanks to replication across Availability Zones and real-time fail-over. Once migrated to the Cloud, our customers benefit from a very low RTO (Recovery Time Objective) even in cases of sudden power outage, natural disaster, or any other crisis, like a pandemic. They have the guarantee that their SWIFT infrastructure will be operating 24/7, 365 days a year.

 

Security Risk  

With an on-premises infrastructure, your cyber security requires in-house management, a very manual and expertise-essential process. On the other hand, when financial institutions migrate their Swift infrastructure to the cloud, they can benefit from a secure-by-design architecture, compliant with the latest version of the Swift CSCF, and the latest cybersecurity best practices. Automated tools allow you to monitor the infrastructure and react in case of security incidents. This brings your SWIFT environment to the highest standard of security.

 

2 – Lower Total Cost of Ownership (TCO)

On-premises infrastructure usually requires a large upfront capital investment to maintain your own server – space, power, cooling, maintenance, IT teams, and replacement parts.

In the cloud environment, you can get rid of these expenses and pay only for what you use. In other words, instead of paying for maximum capacity, you will only pay for what you use, when you need it.

Once you have removed your in-house infrastructure, you can rely on our expertise to maintain your infrastructure, allowing you to focus on your business.

 

Organizations who migrated to AWS from on-premises, achieved an average of 20% infrastructure cost savings.

The Business Value of Migration to Amazon Web Services,” The Hackett Group, January 2022

 

3 – Higher Flexibility

Flexibility is one of the greatest advantages of the cloud, here is why:

 

Scalability

Scaling on an on-premises environment typically requires buying a robust infrastructure to handle a higher volume of transactions, which is both time-consuming and costly. Not to mention the human costs and delays related to the implementation projects.

Once you migrate your infrastructure to the cloud, you won’t need to worry about that. Additional capacity can be added whenever needed and removed just as quickly. This will also help your business to reduce the cost of IT resources management and maintenance.

 

Agility

One area where the cloud can be particularly helpful is in enabling greater agility for developers and quicker time to market. In a cloud computing environment, new IT resources are only a click away, which means that you reduce the time to make those resources available to your developers from weeks to just minutes. On an on-premises infrastructure, this is totally different as developers need to build everything from zero.

 

How Do I Get Started? 

If you are looking to get rid of your hardware & staff expenses, have a predictable cost for your Swift infrastructure that includes all future upgrades, have your Swift infrastructure managed by Swift experts, 24/7 availability, easy scaling up and down, and sophisticated security, then clearly our Managed Services is the winner.

With DiXiO’s Managed Services, you have a team of experts available 24/7 to answer any questions, fix any issues, and proactively inform customers of all impacting changes from Swift. This includes new standard releases, ISO20022, security and CSCF updates, or innovations like gpi, Preval or SWIFT Go.

To learn more about our Managed Services, watch our video:

 

 

👉 For more information, or if you’d like to test our service, contact us.

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