Cloud for Financial RapidScale Managed Cloud Computing Solutions for Business

CloudFinancial

Cloud for Financial RapidScale Managed Cloud Services for Businesses

Some of the biggest concerns for financial businesses are data security and compliance issues. With CloudFinancial, you will have access to enterprise-grade security to keep sensitive data confidential, all while improving agility and collaboration between your employees and clients and increasing business opportunities in new markets.

Enhancing the Financial Industry with Managed Cloud Solutions

Security Concerns

Security of sensitive financial information is the biggest concern for the industry. Financial businesses need to maintain the highest level of security, while also ensuring all employees can access important information 24×7. In addition, in the case of a natural disaster, businesses with on-premises data centers are in jeopardy of losing sensitive financial information, risking security and huge financial loss.

Compliance

The banking industry is experiencing increased regulatory pressure in order to uphold the integrity of the financial system. Complying with a growing number of complex new rules requires high financial and human commitment from businesses. Compliance requirements have also put pressure on the industry to recognize infrastructure as an important part of a functional business model, increasing the need for sound IT functions.

Growing Competition

The rise of the digital consumer has resulted in new competitors that offer financial services conveniently online or through smartphones. Companies like Square, PayPal, and Apple are drawing the attention of new customers, resulting in a decreasing sense of customer loyalty to financial businesses. Customers are becoming better informed and more technologically savvy, pushing aside the demand for retail and corporate banks.

Product Innovation Pressure

In order to keep up with the increasing customer demands for product innovation, financial businesses are forced to make improvements to the services they offer. High equipment costs and limited IT resources can prevent banks from supporting the newest services that match their competitors’ offerings.

Background

RapidScale’s CloudCompliance meets most compliance requirements in the financial industry, including SOX, FACTA, and GLB. CloudCompliance features a user-friendly Web based portal software solution that offers businesses an easy, affordable way to prove they are in compliance with the latest standards and industry regulations, saving you time and a huge financial headache.

CloudFinancial allows businesses to expand quickly into new markets, acquire new services and applications, and adapt business processes to new business opportunities in an efficient manner. Companies also have the freedom to scale up and down as needed without spending big dollars. CloudFinancial allows businesses to virtualize IT infrastructure, operating systems, and software applications as they see fit.

Many applications in the financial industry have been in use for many years, and cannot support the growing need for additional capabilities. The cloud allows your company to support newer, better apps that can accommodate the growing demands for mobility, business intelligence, and other new service capabilities. With the cloud, the possibilities for what your business can achieve are endless.

CloudFinancial allows partners across every sector of your business to communicate and access information securely on any device, anywhere. The cloud also meets the ever-growing consumer demand for easily accessible services, allowing you to communicate with customers and provide the financial services they want wherever they are.

CloudApps Integration

CloudApps simplifies application purchasing and license management for your business. RapidScale offers some of the most commonly used business apps, and also allows you to integrate your existing applications into the cloud. We can support 97% of business applications on the market, including:

Banking Software

  • Apex
  • Canopus EpaySuite

Tax Software

  • Intuit ProSeries
  • CCH Tax

Accounting Software

  • QuickBooks
  • Microsoft Dynamics
Intuit ProSeries Icon
MS-Dynamics-Logo-Transparent-300x99
Canopus Epay Suite Icon
Apex Logo copy
QuickBooks Icon
CCH Tax Icon

CloudSecurity

RapidScale offers the highest quality protection for your data and information in our secure, redundant and geographically-diverse data centers. With our SAS70, SSAE 16 Tier 3 data centers, your sensitive information will remain safe and secure at all times. All of RapidScale’s data centers feature on-premises security guards, an exterior security system, biometric security systems including palm scanners, and constant digital surveillance and recording. Our data centers are engineered to the highest of standards in order to assure your business is running 24x7x365. RapidScale’s certified network experts are trained to the highest industry standards and are available around-the-clock, insuring you always have someone to turn to with questions or concerns.

CloudFinancial

Financial service organizations include banks, insurance companies and securities firms. These organizations are constantly dealing with extremely sensitive and confidential information. They need to balance strong security and data protection with addressing customer needs and adapting to a rapidly changing business environment. With cloud computing, they can find this balance.

Cloud provides secure IT resources and meets industry regulations while providing a multitude of benefits that are invaluable to the financial sector.

See What our Customers are Saying

  • With this kind of support how could someone not love RapidScale. The bar has been set pretty high!!!

  • Sent a ticket for a server being unresponsive and received a call within a few minutes.  Great response and resolution.

  • I believe the technician’s name was David. He was very pro-active on a Saturday. Got the issue resolved quickly. High marks.

  • Thanks for the quick response and resolution!  and I appreciate the fact that the tech gave information about what the problem was, how it was fixed, etc.  That is always better than a simple “its now fixed”.

  • The level of service that we have received from RapidScale has been completely awesome.  All of our IT team and the owner has commented on it.  You guys are doing a fantastic job!

  • It’s been great so far having RapidScale host our email. We had it in-house before and that was just may more trouble than it was worth.

  • We’ve been extremely pleased with the service and customer support RapidScale has provided us. We don’t have a large IT staff and so the ability to lean on them has been perfect.

  • We’ve now transferred almost our entire company into RapidScale’s cloud. We started with just our email – we moved from in-house to hosted – then we moved the rest of our servers into the RapidScale cloud and now we’re in the final stages of implementing our virtual desktops! It’s really incredible to have everything running in the cloud and to have it all be so easy!

  • Working with RapidScale has been great so far. Our organization had a lot of our servers in-house and it was such a pain. It’s 1,000 times better now that we moved it all to the cloud.

  • RapidScale quite literally re-invented our IT situation. It was a complete mess before and we are absolutely THRILLED with everything that they’ve helped us to accomplish. Our network runs smoother and our virtual environments are the best addition we’ve made in a very long time.

  • The whole “cloud” thing was incredibly daunting when we first started exploring it for our business. We didn’t really understand the way everything worked and how it was going to help us get past some of the technology speed bumps we had. I worked with the RapidScale sales team and they were really very helpful and made me completely comfortable with the solution. We’ve been running on the CloudOffice interface for about 4 months now and are 100% satisfied and so happy we made the choice to move to RapidScale.

  • RapidScale helped to not only significantly lower our costs, but to help make our work environment more productive as well as more reliable and stable.

  • I LOVE THIS TECHNOLOGY.  I am so excited to be in this new phase within our organization. As a proud partner of RapidScale, this week alone I’ve dealt with 3 major consultations in Colorado with hundreds of employees each! This technology is truly exciting stuff.  They make the process so easy, from training, to quoting, to installation! I LOVE HOW EASY THAT WAS.  Amazing.  You all ROCK!

  • Thanks again and we look forward to staying with Rapidscale for a long time to come.

  • RapidScale provided us with the idea Hybrid Cloud solution for our firm and allowed us to have mobility and reliability that we were previously lacking. We also got the security of full data redundancy between RapidScale’s data centers, which eliminated the concern of a server failing and losing our years of data.

  • We were not only able to quantify the cost savings for the company with RapidScale, but we were also given new capabilities when trying to establish accurate Recovery Point Objectives (RPO) and Recovery Time Objectives (RTO).

  • During National Health IT Week, we recognized you for leveraging technology to support and improve our healthcare systems. By ensuring that our health information technology is integrated, interactive, interoperable, and intelligent, you help improve the quality of healthcare delivery, increased patient safety, and strengthen the interaction between patients and their healthcare providers. Thank you for all you do to enhance our operations and support patient care and safety

  • Overall, RapidScale provided us with an ideal hybrid Cloud solution for our organization and allowed us to have mobility and reliability that we were critically lacking before. We deal with a lot of power outages so it’s remarkable that we have the convenience of full redundancy between RapidScale’s data centers, which eliminated the concern of a server failing during one of our power outages and potentially losing our data.

  • I will say that I highly recommend RapidScale because of the level of service and response I have had with them. I will also say that the level of personal attention/interaction that I have been able to maintain with them has been a critical point in my decision to remain with them even when other companies have approached me with options to change.

Background

Expand Your Cloud Knowledge

RapidScale’s CloudUniversity

Expand your knowledge of how the cloud works, how it can benefit your business, the different cloud solutions, and much more. RapidScale’s CloudUniversity makes it simple to develop your understanding of the cloud.

The Sarbanes-Oxley Act (SOX) is designed to protect investors and the public by increasing the accuracy and reliability of corporate disclosures. SOX is administered by the Securities and Exchange Commission, which publishes SOX rules and requirements defining audit requirements and the records businesses should store and for how long. SOX is organized into the following 11 titles: Public Company Accounting Oversight, Auditor Independence, Corporate Responsibility, Enhanced Financial Disclosures, Analyst Conflicts of Interest, Commission Resources and Authority, Studies and Reports, Corporate and Criminal Fraud Accountability, White-Collar Crime Penalty Enhancements, Corporate Tax Returns, and Corporate Fraud Accountability.

This law protects consumers engaging in electronic fund transfers from errors and fraud. It carries out the purposes of the EFT Act, which establishes the basic rights, liabilities and responsibilities of EFT consumers of financial institutions offering these services. EFTs include ATM transfers, telephone bill-payment services, point-of-sale terminal transfers in stores, and preauthorized transfers from or to a consumer’s account. Additionally, a recent provision states that institutions may not impose dormancy, inactivity or service fees for pre-paid products , such as gift cards, and they may not have an expiration date of less than five years. Regulation E includes the following provisions: definition of access device, consumer acceptance of device, financial institution responsibilities, consumer rights and responsibilities, and rules for preauthorized debits and electronic check transactions.

The Fair and Accurate Credit Transaction Act (FACTA) is an ammendment to the Fair Credit Reporting Act that is intended to help consumers avoid identity theft. Accuracy, privacy, limits on information sharing, and new consumer rights to disclosure are included in the legislation. The act also says businesses in possession of consumer information or information derived from consumer reports must properly dispose of the information.

FACTA includes the Red Flags Rule, which establishes new provisions within FACTA requiring financial institutions, creditors, etc. to develop and implement an identity theft prevention program.

The Gramm-Leach-Bliley Act (GLB) is also known as the Financial Modernization Act of 1999. It includes provisions to protect consumers’ personal financial information held by financial institutions. There are three main parts to the privacy requirements: the Financial Privacy Rule, the Safeguards Rule, and pretexting provisions. This act affects financial institutions and companies that provide financial products and services to consumers.

The Financial Privacy Rule: This requires financial institutions to give customers privacy notices explaining its information collection and sharing practices. Customers have the right to limit some sharing of their information. Financial institutions and other companies that receive personal financial information may be limited in their ability to use that information.

The Safeguards Rule: This requires financial institutions to design, implements and maintain safeguards to protect the confidentiality and integrity of personal consumer information.

Pretexting provisions: This protects consumers from individuals and companies that obtain their personal financial information under false pretenses, including fraudulent statements and impersonation.