Financial service enterprises looking to modernise their infrastructure have to prioritise data security and compliance standards to acquire a competitive advantage. Fortunately, Atlassian is dedicated to the comprehensive needs of the finance sector so that enterprises can remain future-flexible while meeting local regulations through data residency and gaining customer confidence through tougher security measures.
First off, why Atlassian Cloud?
The reason that the phrase “cloud modernisation” gets thrown around so easily is that any organisation that has the opportunity to migrate can find accelerated delivery, enhanced cybersecurity, and the ability to reallocate hardware and support budgets towards more innovative measures – simply put, it’s the future of infrastructure.
It also provides your teams with an ever-evolving set of tools. Atlassian continues to offer new cloud features that empower admins and end-users alike to streamline development while elevating FinServ customer experience.
Your ticket to cloud
Customers in highly regulated industries who operate out of Singapore, the United States, Australia, or Germany, can migrate to the cloud while easily meeting local compliance standards through data residency. In these regions, FinServ companies are able to control where data is stored and processed allowing them to meet regional data management requirements.
It’s not uncommon for many customers in regulated industries to feel hesitant about leaving their own server center for the cloud due to the potential feeling that they would no longer be in control. However, by no longer relying on in-house hardware, organizations can significantly reduce downtime by relying on Atlassian’s uptime SLAs for our cloud products. Migrators can also rest assured that their data is safe and secure; learn more about Atlassian products’ security, reliability, privacy, and compliance in our Trust Center.
The upper hand
When Commonwealth Bank of Australia migrated its Data Center instance of Jira to Atlassian Cloud, it set out to seamlessly migrate 25,000+ users. During Chief Engineer Helen Lau’s Team ’23 presentation, CBA: Engineering transformation at scale for 25,000 JIRA users, she describes how CBA made sure security was “top of mind” while also wishing to build a “one team” culture as “collaboration is the most important ingredient to our success.”
Since migrating, CBA has experienced:
- No priority 1, priority 2, or priority 3 incidents;
- No planned or unplanned outages;
- Increased end-user satisfaction;
- Lower trending support tickets, meaning more resources for innovation;
- Elimination of the need for raising capital for new hardware.
Since the migration, I have not heard any noise from our end-users complain about performance”Helen Lau, Chief Engineer
The earlier a FinServ enterprise adopts cloud, the more innovative lead time it has on its competitors.
Lastly, keep in mind the end of Server
Atlassian will end support for Server in February 2024 meaning teams currently leveraging Server tools need to begin planning their migration to Cloud or Data Center as soon as possible. For FinServ organisations in regions that offer local data residency, now is the time to begin the cloud modernisation process. Since migrations can take up to 9 months to complete, coming up with a migration strategy is key, so make sure to check out Atlassian’s Cloud migration guide to learn the process step by step.