CSC unveils cloud computing program for financial services industry

by CXOtoday Staff    Dec 27, 2010

cloudCSC (NYSE: CSC), a technology-enabled solutions and services provider, today announced its four-stage program for financial services firms to use cloud services. This program is expected to enable firms gain flexibility and agility in their computing environments.

Citing the need for cost reduction, rapid changes, faster innovations and reduced time to market for new products as significant factors which have compelled companies to consider a move to the cloud, Ray August, president, CSC’s Financial Services Group stated that security is paramount – particularly in the highly regulated financial services industry. “As a trusted partner providing decades of vertically focused business transformation solutions and cyber security services, CSC has the experience to evaluate, identify and manage private, hybrid and public cloud scenarios that deliver to our clients the most secure services and highest value possible,” August further added.

CSC informed that it analyzes and matches enterprise computing workloads to cloud options to create a staged deployment roadmap that is both low risk and high impact. This staged approach to cloud computing enables banks, insurers, reinsurers and capital markets firms to speed entry to new markets, smooth mergers and acquisitions, and respond to changes in the competitive landscape.

With a business-first implementation approach to cloud migration, CSC’s Cloud Adoption Assessment methodology assesses, analyzes and prioritizes workloads to determine which cloud services represent the greatest business opportunities for the enterprise. The resulting ‘Right Cloud, Right Way’ roadmap is tailored for each firm to include appropriate elements of CSC’s four stages.

Informing about the program, the company stated that, stage 1 is the deployment of low-risk, horizontal shared services to the cloud to improve the agility, competitiveness and cost effectiveness of these applications and their associated processes. In stage 2, back-office support applications are transformed to the cloud, where a choice in deployment options delivers the ultimate flexibility. Stage 3 is the modernization of core applications so that they can tap into cloud’s elastic capacity and on-demand simplicity. CSC offers application modernization services for homegrown and third-party systems. In stage 4, the creation of new services, processes and applications that were not possible before the availability of cloud, is revolutionary and runs in a parallel track.