Cloud Archives - 乐播传媒视频 /category/capability/cloud/ IT Consulting, Strategy & Outsourcing Services Company Tue, 22 Sep 2026 11:57:10 +0000 en-US hourly 1 https://wordpress.org/?v=7.1.3 /wp-content/uploads/2020/03/itc-logo.png Cloud Archives - 乐播传媒视频 /category/capability/cloud/ 32 32 Data Modernization: The Missing Link Between Cloud and AI Value /blog/data-modernization-the-missing-link-between-cloud-and-ai-value/ Tue, 22 Sep 2026 11:57:10 +0000 /?p=49995 The post Data Modernization: The Missing Link Between Cloud and AI Value appeared first on 乐播传媒视频.

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For many enterprises, the cloud journey is well underway. Applications have been modernized, workloads run in scalable cloud environments, and AI is increasingly embedded into business processes. Yet a fundamental gap remains: an enterprise cannot become truly AI-driven while intelligence is trapped inside application silos.

The real constraint is increasingly not access to AI, but access to the right data, in the right context, at the right time. Enterprise data remains distributed across applications, functions, and platforms, with different definitions, fragmented lineage, and limited understanding of the business relationships behind it. Organizations can therefore deploy intelligent applications without necessarily creating enterprise intelligence across the business.

That makes data modernization a critical step in the cloud-to-AI journey. The objective is not simply to consolidate data or build another modern platform, but to create an enterprise data foundation that understands the business: connecting data across domains, enriching it with semantics and relationships, and making it trusted, governed and consumable by AI, even while the underlying architecture remains distributed.

What counts as data modernization has therefore changed. A few years ago, moving data to the cloud or building a modern data platform could itself represent modernization. In an agentic environment, the bar is higher: data also has to be engineered for how people and AI agents will understand and consume it.

AI-ready data is specific to the job

The traditional view of data quality is often too general for AI. A dataset may be complete, consistent, and suitable for reporting, yet still fall short for the particular task a model or agent is expected to perform.

argues that data cannot be made 鈥淎I-ready鈥� in the abstract. Readiness depends on the use case, the AI technique, the required confidence level, and factors such as semantics, labelling, representativeness, lineage, operational performance, and cost. Conventional high-quality data does not automatically satisfy those requirements.

For agentic AI, data readiness increasingly includes business context: what a value represents, how it relates to other business objects, which definition applies and what policies constrain an action. Data modernization is therefore expanding from moving and cleansing data to engineering meaning around it.

Context is becoming part of data engineering

One way to think about this is as a semantic or context spine across the distributed data estate.

  • 聽An ontology defines business objects and relationships;
  • a knowledge graph makes those relationships explicit;
  • a context graph assembles what is relevant to a task; and
  • a semantic layer exposes consistent terms and metrics to people, applications and agents.

This direction is increasingly visible in the market. describes context layers combining semantics, governance and runtime context; discusses ontology-driven semantic layers and virtual knowledge graphs; and uses ontology as a shared business model. The intent is similar: give AI a governed model of what enterprise data means and how it relates.

Consider a hotel. Front-office teams and revenue managers may use the same property data but need different context. The front office may need room availability, guest preferences, and maintenance exceptions; revenue management may need demand, rate performance, and occupancy. The data product should reflect the consumer and use case.

A human also brings tacit knowledge that an agent lacks. Asked which room to offer and at what price, an agent may need to connect reservations, loyalty status, inventory, rates, maintenance, and policy rules. The context spine makes those relationships explicit rather than leaving the model to infer them.

Unstructured data needs more than a place to live

Cloud-native platforms can ingest PDFs, images, audio, diagrams, and other unstructured information. But getting all that content onto a modern platform does not suddenly make it useful to AI.

A PDF used by an AI application may be separated into text, tables, images, metadata, sensitivity labels, embeddings, summaries, and quality scores. McKinsey notes that these derived objects must remain connected to the source and to one another, preserving meaning, lineage, and control throughout the pipeline. If those connections are lost, fairly basic questions become surprisingly difficult to answer: Where did this response come from? Was the right version of the document used? Can the result be reproduced and verified?

Data engineering therefore has to extend beyond ingestion. Unstructured content must be classified, secured, and linked to relevant structured records so a contract, manual or communication connects to the business entities it describes.

Trust has to travel with the context

Once business context becomes reusable across applications and agents, governance has to travel with it. Master data establishes common identities; metadata, lineage, and provenance show where information came from; and policy controls determine what each user or agent can see and do.

This also affects trust in AI outputs. notes that systems working directly over raw enterprise schemas can end up guessing how tables fit together, producing inconsistent metrics and hallucinated answers. A governed semantic layer reduces that guesswork and makes responses easier to trace. As agents begin acting on enterprise information, BCG argues that data quality, lineage and provenance become risk priorities because flawed information can trigger actions before a person intervenes.

Domain expertise turns data into business context

Technology can make enterprise data accessible; domain expertise makes it meaningful. Ontologies, graphs, and semantic layers only become valuable when they reflect how the business actually works: which relationships matter, which definitions are valid, how industry processes connect and which policies shape decisions. That is how raw data becomes AI-ready business context.

This is where 乐播传媒视频’s deep domain expertise can make a fundamental difference. Our context-hub approach is intended to encode reusable industry concepts and relationships so intelligence can move beyond individual applications and operate with a richer understanding of the enterprise.

The next test of data modernization

So, what should leaders now expect from a modern data estate? The bar is clearly moving. As AI moves deeper into enterprise workflows, organizations will need to show that the information feeding those systems remains relevant, intelligible, traceable, and appropriately protected at the moment it is used. Having the data migrated, consolidated, or available on a cloud platform will tell only part of the story.

The harder work lies in making that data usable in context. Structured and unstructured information has to come together, business meaning needs to survive across systems, common identities and definitions have to hold, and governance must continue to work as data moves through retrieval and AI consumption. Once AI begins influencing more consequential decisions and actions, gaps in any of these areas become much harder to overlook.

Cloud modernization created the digital substrate for AI. Data modernization now has to create the business understanding that lets intelligence operate across it: a distributed foundation that can be logically unified, enriched with semantics and relationships, governed end to end and shaped for people and agents.

For CIOs, that gives data modernization a more practical measure of success: how confidently can the enterprise put its data to work through AI? As we move through 2026 and into 2027, that question will become increasingly important. Scaling AI will depend as much on the quality and context of the data underneath it as on the sophistication of the model sitting above it.


Author:

Shan Duggatimatad,
Vice President, DATA

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The Cloud Cost Reckoning: Why FinOps Must Move from Visibility to Accountability /blog/the-cloud-cost-reckoning-why-finops-must-move-from-visibility-to-accountability/ Wed, 09 Sep 2026 11:15:01 +0000 /?p=49887 The post The Cloud Cost Reckoning: Why FinOps Must Move from Visibility to Accountability appeared first on 乐播传媒视频.

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A monthly cloud review can now tell an enterprise a great deal: which accounts are driving spend, where utilization has increased, which resources are underused, and where rightsizing or commitments could improve the economics. The harder conversation begins once everyone has seen the dashboard. Who owns what happens next? And can the business explain what it received for the money spent?

For conventional cloud infrastructure, much of the technical machinery for cost management is already in place. FinOps practices have matured, platforms provide increasingly granular visibility, and enterprises have more ways to monitor and optimize consumption. The challenge is increasingly about turning that visibility into consistent governance and action across the organization.

AI makes that harder. GPU infrastructure, model consumption, token usage, data movement, and experimentation introduce new patterns of spend, often across multiple teams and environments. There are fewer established playbooks, and the economics can change quickly as use cases scale.

That is why the cloud cost conversation is moving beyond finding waste. The real question now is whether enterprises can build financial accountability into the way technology is designed, consumed, and operated.

AI changes the economics of cloud consumption

The scale of the change is already visible. The found that 98% of respondents now manage AI spend, up from 31% in 2024. It also points to a broader evolution in the discipline, with FinOps teams becoming involved earlier in technology decisions rather than only analysing spend after the fact.

The reason is fairly practical. AI costs do not always behave like traditional infrastructure costs.

There is no single optimization formula yet, but architectural choices matter. Retrieval-augmented approaches can reduce unnecessary use of larger models in some scenarios. Open-weight or smaller models may be more economical for certain workloads. Model selection, usage patterns, data movement, and the way an application is designed can all affect the eventual cost.

McKinsey鈥檚 research highlights how difficult that can become in practice. Its 2026 Enterprise AI FinOps survey found that 93% of qualified respondents had exceeded their AI budgets, while only 20鈥�25% had mature AI FinOps capabilities. The research also found that AI expenditure is often spread across foundation-model contracts, copilots, APIs, AI-enabled software, experimentation environments, and business-unit purchases.

So the issue is not simply how much AI costs. Enterprises need to understand where the demand is coming from, what is driving it, and whether the consumption is justified by the outcome.

Cost decisions need to happen earlier

This changes when cost management needs to enter the conversation.

If a workload has already been architected, deployed, and scaled, the options available to a FinOps team are narrower. It can identify waste, recommend rightsizing, negotiate commitments, or flag unusual consumption. Some of the biggest economic decisions, however, may already have been made.

For AI workloads, choices around model selection, workload placement, retrieval architecture, context size, and the balance between proprietary and open-weight models can shape cost well before the first monthly bill arrives.

This is why FinOps is becoming more closely connected with architecture and engineering. Cost needs to be considered while workloads are being designed, alongside performance, scalability, resilience, and security. Forecasting also becomes more important because business teams need a clearer view of what happens to the economics when an AI use case moves from a pilot to wider adoption.

The goal is to make cost a design consideration rather than a correction exercise.

From cost insight to operational action

The other challenge is execution. A cost anomaly is useful only if someone can investigate it, decide what needs to change, and make that change without compromising service performance.

At 乐播传媒视频, we bring together capabilities such as SpendEffix, cloud optimization and modernization, cloud managed services, account management, ITSM, automated ticketing, and multi-cloud performance monitoring to support this operating model.

SpendEffix provides the FinOps layer for visibility and financial management, while cloud optimization and modernization help address workloads where inefficient consumption is rooted in the underlying architecture. Multi-cloud monitoring brings cost into the context of performance and utilization, while managed services, ITSM, and automation provide mechanisms for carrying an identified issue through to action.

That connection becomes important as cloud estates expand. Finding another optimization opportunity is rarely the difficult part. Making sure the right team owns it, understands its operational impact, and closes the action is where accountability begins.

Automation can help shorten that cycle further, particularly around anomaly detection, remediation, forecasting, and repetitive optimization activity. It also allows FinOps teams to spend less time chasing individual cost events and more time looking at patterns, architecture choices, and business value.

The real question is what the spend delivered

FinOps began by giving enterprises a clearer view of variable cloud consumption. That visibility remains essential, especially as AI creates another fast-growing category of technology spend. The next stage is about making that information useful in decisions.

As enterprises move through 2026 and into 2027, mature FinOps practices will increasingly need to connect consumption with ownership, architecture choices, forecasts, and business outcomes. The monthly bill will still tell leaders what they spent. The more valuable capability will be understanding what drove that spend, whether it was worth it, and who has the information and authority to act when the economics change.


Author:

Varoon Rajani
Sr. VP & SL Head 鈥� CS

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Securing Multi-Cloud in the Age of AI Complexity /blog/securing-multi-cloud-in-the-age-of-ai-complexity/ Fri, 24 Jul 2026 07:25:34 +0000 /?p=49752 Multi-cloud has become the operating reality for large enterprises. Business units choose SaaS platforms for speed. Technology teams use different cloud providers for performance, scale, cost, regulatory or ecosystem reasons. […]

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Multi-cloud has become the operating reality for large enterprises. Business units choose SaaS platforms for speed. Technology teams use different cloud providers for performance, scale, cost, regulatory or ecosystem reasons. Legacy systems continue to support critical processes. AI is now entering this environment with a higher demand for trusted data, clean access models and consistent governance.

For CIOs, CISOs and risk leaders, the concern is not the size of the technology estate alone. The harder issue is fragmentation of control.

A cloud environment may look secure when viewed on its own. Risk builds when data, identities, applications, APIs and automation cross environments without a consistent security and governance model. AI makes that gap harder to carry because it relies on the foundations that are most difficult to manage across a distributed estate: data quality, access control, lineage, policy enforcement, observability, and response.

The real multi-cloud risk is control drift

Most enterprises have invested heavily in cloud security. Identity platforms, vulnerability tools, encryption standards, posture management, security monitoring and cloud-native controls are already in place. Yet many leadership teams still struggle to get fast, reliable answers to basic questions: who has access to what, where sensitive data is moving, which exposure creates the highest business risk, and whether policies are being applied consistently across environments.

We are witnessing a , where the speed of cloud adoption is outpacing the ability of security teams to maintain consistent visibility, detection and response.

In a multi-cloud estate, this becomes an operating model challenge. Each platform has its own way of managing identity, policy, logs, configurations and controls. When enterprises add more tools without connecting the control model, security teams are left correlating risk across systems that were not designed to work together.

For a CIO, the key cloud question is no longer, 鈥淒o we have controls?鈥� The better question is, 鈥淐an those controls work together when the business runs across multiple environments?鈥�

AI raises the cost of weak governance

AI changes the security conversation because it brings data, access and action closer together. A model or AI-enabled workflow may draw from customer, transaction, operational, product, service or employee data, and then use that context to support decisions, trigger workflows or guide automated responses.

That puts far more pressure on the data foundation. If enterprise data is duplicated, poorly classified, inconsistently governed or difficult to trace, the issue is no longer only whether the data is secure. It is whether the enterprise can trust how that data is being used, who or what has access to it, and whether the outputs can be explained with confidence.

Agentic AI adds another layer to this challenge. has identified agentic AI as a top cybersecurity trend for 2026, citing unmanaged agents, unsecured code and compliance exposure as emerging risks. As AI systems begin to act across workflows, call tools, access systems and interact with enterprise data, governance has to extend beyond where data sits to what actions AI-enabled systems can take. The access question also changes. The identity estate now includes service accounts, API keys, workloads, automation scripts, machine identities and AI agents that can hold permissions, trigger actions, call systems and move across environments. Many are created for a specific use case and remain in place long after the original need has changed.

This is why AI-ready cloud security has to begin with an AI-ready data foundation. Applications may continue to run across different cloud and SaaS environments, but AI-relevant data needs stronger consolidation, governance and lineage, while non-human identities need clearer ownership, least-privilege access, credential lifecycle management and faster privilege revocation. Without that, enterprises carry cloud fragmentation into their AI programs, creating gaps in privacy, accuracy, auditability and decision confidence.

For leadership teams, the implication is clear: cloud security, data governance and AI governance need to be designed together. The highest-risk gaps will appear where AI needs the greatest confidence – in data access, policy enforcement, traceability and delegated action.

Security architecture needs to become more coherent

The answer is not to simplify ambition or slow down AI adoption. It is to make the control model more coherent.

Enterprises need a unified view of identity, data exposure, configuration, vulnerabilities, runtime behaviour and response across cloud environments. They need policy consistency across platforms rather than separate interpretations of the same security principle. They need vulnerability management that prioritizes exploitable paths to critical assets, not just severity scores in isolation. They also need resilience planning that assumes incidents may cross cloud, SaaS and legacy boundaries.

AI can help security teams with correlation, anomaly detection, triage and remediation. It can also be misused by attackers to identify gaps faster and at scale. That dual reality makes governance even more important. Human oversight, explainability, guardrails and clear accountability need to be built into AI-supported security workflows, especially where automated action is involved.

For CXOs, the agenda is clear. Multi-cloud security has to move from a platform-by-platform control exercise to an enterprise governance capability. The priority is to reduce fragmentation where it creates the greatest risk: identity, data governance, policy enforcement, observability, vulnerability prioritization and response.

AI will not wait for cloud estates to become simpler. Security architecture has to make them more governable.


Author:

Varoon Rajani
Sr. VP & SL Head – CS

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The Real AI Bottleneck May Be Your Cloud Foundation /blog/the-real-ai-bottleneck-may-be-your-cloud-foundation/ Wed, 22 Jul 2026 05:23:14 +0000 /?p=49773 For the last decade, cloud transformation has largely been measured by migration progress. How many workloads moved? How much infrastructure shifted? Which applications were rehosted, refactored or retired? For many […]

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For the last decade, cloud transformation has largely been measured by migration progress. How many workloads moved? How much infrastructure shifted? Which applications were rehosted, refactored or retired? For many enterprises, that was the right question at the time.

AI is changing the test.

As enterprises move from pilots to scaled adoption, cloud maturity is being measured less by where workloads sit and more by whether the cloud foundation can support trusted data, secure access, elastic compute, controlled spend, modern applications and resilient operations. That is where a gap is becoming visible.

The issue is not cloud adoption. Most enterprises have already made meaningful progress. The issue is that many cloud estates were built for application migration and infrastructure flexibility, while AI demands something more integrated: governed data, stronger security, cost discipline, modernized applications, and automation-led operations.

forecasts worldwide AI spending to reach $2.59 trillion in 2026, up 47% year over year, driven heavily by hyperscalers and vendors. That scale of investment will put pressure on enterprise cloud foundations that were never fully modernized for AI-grade workloads.

For CIOs, the maturity question is becoming sharper: is the cloud estate ready to carry enterprise AI, or will it amplify the debt already sitting inside the technology landscape?

Cost is becoming an AI readiness issue

Cloud cost has always been part of the CIO conversation. AI is making it harder to treat cost purely as a consumption management problem.

AI workloads introduce new cost patterns. GPU consumption, model training, inference, token usage, data movement, storage growth and experimentation cycles can all change the economics of cloud programs. In our client conversations, cloud cost control and FinOps are already among the most urgent areas of concern, especially as AI adds a new layer of consumption unpredictability.

The FinOps Foundation鈥檚 notes that FinOps has expanded beyond cloud into a proactive, technology-wide discipline, with AI now dominating the forward-looking agenda. This is an important signal. Cloud cost maturity can no longer depend only on monthly reports, budget alerts, or infrastructure optimization exercises. AI requires a more active cost model: tagging, ownership, workload-level visibility, consumption forecasting, governance policies, and automated controls built into the operating model.

For CIOs, FinOps has to move closer to architecture. The question is not simply whether cloud spend is rising. The better question is whether teams can connect spend to business value, workload design, data movement, performance needs, and modernization choices.

A lift-and-shift estate will usually cost more than expected because it carries old application assumptions into a consumption-based environment. AI makes that even more visible.

Security and privacy now sit at the center of cloud maturity

Security concerns around cloud migration have matured over time. Many enterprises are now comfortable running critical applications on cloud. AI, however, introduces a different security and privacy concern because enterprise data may be used to train, fine-tune, or power models and AI-enabled workflows.

The worry is straightforward: when data moves from enterprise-controlled environments into cloud-based AI services or model ecosystems, leaders want assurance that it remains secure, private, and governed.

It鈥檚 clear that cloud is increasingly central to enterprise AI strategy. At the same time cloud adoption has expanded the attack surface faster than traditional security models can protect it.

For CIOs and CISOs, this changes the cloud maturity conversation. Security cannot remain a layer applied after migration. It has to be embedded into landing zones, identity models, data governance, network design, policy enforcement, observability, and incident response.

This becomes even more important in multi-cloud and hybrid estates, where different platforms may have different security parameters, policies, controls, and monitoring structures. When data crosses environments, risk rises unless governance and visibility are consistent. Cloud maturity therefore has to include security posture, data protection, identity governance, and resilience across the full estate.

Data readiness is the hidden maturity gap

The most important AI gap may not be in cloud infrastructure at all. It may be in data readiness.

In many enterprises, data sits across source systems, warehouses, lakes, SaaS applications, and legacy platforms. Some of it is duplicated. Some is poorly governed. Some is not integrated with enterprise data platforms. Some lacks quality, lineage or metadata. That makes it difficult to use as reliable input for AI.

Cloud can help solve this, but only when used as a governed data foundation rather than just an infrastructure destination. Enterprises need to bring critical data stores, warehouses and governance layers into a more coherent cloud architecture so AI workloads can draw from trusted, classified, and well-managed data.

There is a practical reason for this. AI does not perform well on fragmented context. If customer, product, transaction, service and operational data are not connected, the enterprise cannot easily build correlation, dependency mapping or decision intelligence. Aggregating AI-relevant data in one place makes it easier to govern, correlate and use for AI with stronger security, privacy, and accuracy controls.

We recently helped an insurance organization migrate data to cloud and create a data layer with master data management and governance. Once that foundation was in place, the organization was able to run machine learning and AI algorithms more efficiently on the platform.

That is the deeper lesson for CIOs. AI readiness starts before the model 鈥� with data architecture, data governance and cloud design.

Modernization debt is becoming harder to carry

Many enterprises still carry applications built over 10, 15, or 20 years. These systems were often left unchanged because modernization was expensive, time-consuming and difficult to prioritize against new business initiatives. The result is technical debt that shows up as security risk, scalability limits, performance constraints, and operational fragility.

Cloud migration exposed some of this debt. AI will expose more of it.

A legacy application can be moved to cloud and still remain structurally unready for AI-era demands. If it cannot scale elastically, integrate easily, expose data securely, support automation, or operate with modern observability, it will limit the enterprise鈥檚 ability to use AI in meaningful workflows.

This is why modernization has to become part of the cloud maturity agenda. CIOs need a clear view of which applications can be retained, which can be rehosted, which need refactoring, which should be re-architected, which require database changes, and which should be retired.

The stronger point is that modernization should not always wait until after migration. In many cases, simply moving applications as-is creates higher cost, limited automation, and weak elasticity. Refactoring during migration can help applications use cloud-native capabilities more effectively and reduce the risk of carrying old inefficiencies into the cloud.

AI can also change the economics of modernization. AI-assisted modernization can significantly improve productivity in upgrading or transforming applications, turning programs that once took many months into shorter, more manageable initiatives.

Our recent engagement with a Tier-1 private sector bank in Southeast Asia shows how this can work in practice. The bank needed to modernize 21 legacy banking applications while maintaining business continuity, reducing technical debt, and improving release agility. 乐播传媒视频 helped the bank move to a more standardized, cloud-native modernization approach, creating a stronger foundation for scalability, security, and long-term cloud-first growth. The program delivered 35% faster release cycles, a 30% reduction in operational effort, and a repeatable modernization framework for future initiatives.

For CIOs, this creates a window to revisit modernization debt with a different business case. The goal is not modernization for its own sake. The goal is to build a cloud estate that can support secure, scalable, automated, and AI-ready operations.

A practical roadmap for CIOs

The cloud maturity gap cannot be closed through isolated initiatives. Security, cost, modernization, data, and operations are now tightly connected. A cost issue may be rooted in poor architecture. A security issue may be rooted in fragmented identity. A data issue may be rooted in incomplete modernization. An AI issue may be rooted in all of them.

A practical CIO roadmap can begin with five moves.

  • First, set up the landing zone correctly. This is the foundation for governance, security, identity, networking, and policy consistency.
  • Second, identify pilot applications and use them to validate the operating model before scaling migration or modernization.
  • Third, define tagging, ownership and FinOps pipelines early, so cost visibility and accountability are built into cloud adoption rather than added later.
  • Fourth, migrate and modernize with automation in mind. The goal is to reduce manual effort, strengthen consistency, and improve operational scalability.
  • Fifth, bring in monitoring, automation, and AIOps to manage cloud infrastructure and applications with greater intelligence and responsiveness.

For leadership teams, the broader shift is clear. Cloud maturity is no longer defined by migration completion. It is defined by whether the enterprise can support AI at scale without losing control of cost, security, data quality, modernization and resilience.

AI ambitions will keep growing. The cloud foundation has to catch up.


Author:

Varoon Rajani
Sr. VP & SL Head – CS

The post The Real AI Bottleneck May Be Your Cloud Foundation appeared first on 乐播传媒视频.

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Digitisation of Lending Business /blog/digitisation-of-lending-business/ Mon, 03 Jul 2023 06:56:03 +0000 /?p=40367 The post Digitisation of Lending Business appeared first on 乐播传媒视频.

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The lending industry has new opportunities due to a rise in efficient technology and new types of lenders. There has been rapid adoption of technology to streamline the overall process of getting a mortgage, personal and business loans, enhancing the consumer experience into a smoother and faster one and expanding consumer access to financing products. While many banks are working on providing a smoother loan application experience by digitising the lending workflow process and front-end platform. However, the digitisation of the industry still needs to be improved by leveraging modern technology and data effectively. Many banks still take 2 鈥� 4 weeks to process the loan because of labour-intensive processes, the complexity of the technology landscape and the fragmented system.

Lenders using AI and ML modelling have seen improvements in loan assessments, default pattern identification, and accurate customer behaviour prediction. This helps banks to flag risky loans and make informed decisions to minimise losses.

Traditional lenders often struggle to see the E2E customer journey because data is dispersed between multiple channels and touchpoints. Thus, they lose the insights from all that data to drive a better customer experience.

Reshaping the lending Industry with Novel Approach and Modern Technology

  • Non-bank lenders continue to grow popular –
    • Non-bank lenders have invested heavily in the digitisation of user interfaces that simplify application submission, processing and collaboration with customers through real-time communication using digital channels. They offer low-cost, high-value lending products while providing users with an easier path to obtaining loans.
    • According to Oracle’s Digital Demand in Retail Banking study of 5,200 consumers from 13 countries, over 40% of customers surveyed think non-banks can better assist them with personal money management and investment needs, and 30% of respondents who haven’t tried a non-bank platform said they’re open to trying one.
    • This means bad news for traditional banks that are still slow to transition and apply digitised tools to deliver differentiated lending services.
    • Neo banks operate entirely online and provide credit and lending services digitally. It leverages data models to understand customer needs and behaviours to attract new customers and retain existing customers.
  • Optimizing Customer Experience
    • Based on the study conducted by McKinsey & Company, 60 per cent of customers say they are comfortable with a completely online application. Personalisation, reassurance, transparency, simplicity and speed are vital to attract and retain the customers.
      With information like demographic data, behavioural data, psychographic attributes, cash flow of customers, and alternative data sets 鈥� like social media data, and partner ecosystem data, the banks can construct meaningful customer insight and build products that serve customer needs.
    • Banks should prioritise getting things right first time, offering quick, precise, 24×7 status updates, pre-approval within 24 hours, and providing a single point of contact.
    • AI and machine learning empower lenders to provide highly personalised experiences to customers. Lenders must build advanced algorithms to collect customer data, analyse financial profiles, and suggest customised lending options. Furthermore, the platforms could leverage crowd wisdom to source the best rates, guaranteeing customers the most competitive offers. The integration of hyper-personalization with AI and machine learning has significantly improved the lending journey, delivering convenience, efficiency, and unmatched customer satisfaction.
    • An agile tech stack with seamless integrations, including access to lifestyle and contextual data, such as social media, to provide banks with a complete picture of prospects so that offers can be tailored for outstanding customer experience.
  • Third-Party Technology Providers and Open Banking for NextGen Lending
    • Open banking helps create a value-driven, profitable lending journey that retains market share and margins.
    • The future banking practice demands opening customers’ entire financial footprint to trusted third parties, including mortgages, savings, pensions, insurance, and consumer credit data
    • By harnessing unconventional data sources, open banking performs a holistic assessment of customer creditworthiness
      It also helps with income verification, Know Your Customer (KYC) confirmation and customer onboarding
    • Third-party technology and data providers are leveraging open banking to support the banks. Their activities involve marketing lending products, gathering borrower information, and underwriting, closing, or funding a loan.
      The expansive list of services is available, including loan origination platform, workflow management, document extraction and management, income and asset verification, employment verification, title verification, appraisal management, e-closings, automated compliance, and decisions model.
  • Cloud-based SAS solution 鈥� Improved time to market and customer experience
    • The digitisation of the Loan origination system (LOS) helps to enable self-servicing for the broker and the bank鈥檚 sales team, provide real-time collaboration, and increase transparency. Many Fintech and Product firm offer SAS solution on the cloud that helps the bank to implement the solution much quicker and faster
    • Cloud analytics services enable the correct set of tools to develop the data model and insight that would significantly help to keep the lender products competitive and help retain the customer longer
    • Cloud-based interoperable solutions enable lenders to benefit from multiple APIs and other technology that enhance the user experience and allow for new propositions to be brought to market swiftly and safely
    • Adoption of SaaS cloud-based solutions helps create a portal between the lender, borrower, and other mortgage stakeholders, offers immense potential to automate processes through self-servicing, improve opportunities and accuracy, and reduce costs and workloads.
  • ESG: Driving Sustainability and Inclusion in Mortgage Services
    • ESG Integration: Organizations worldwide, including community financial institutions, are prioritising ESG considerations in their corporate agendas. This includes local banks focusing on mortgage lending to promote diversity and inclusion and improve the lives of their customers and communities.
    • Technology-driven Solutions: Banks are harnessing technology and advanced analytics models to incorporate ESG risk to enhance risk assessment accuracy and reduce funding costs. This enables them to issue mortgages at lower rates, reducing costs for both banks and borrowers.
    • Expanding Homeownership Opportunities: Affordable homeownership aligns with ESG goals, promoting sustainability and inclusion within mortgage services. Lower costs and improved risk assessment enable a more accessible housing market, fostering economic stability and improving quality of life.

Conclusion

The risk mitigation of lending and its volatile market can be controlled by leveraging data and innovative technology solutions. AI and ML data models improve fraud and risk management and proactively detect and reduce risk exposure.
Adopting SaaS and cloud computing offers flexibility, efficiency, security, increased collaboration, reduced costs, and improved time to market.

Banks can cut down 30 鈥� 40% of operating costs through E2E automation and redefine customer journey by leveraging third-party services and open banking ecosystems. This advancement not only enhances the reliability and value of data but also enables banks to make better-informed decisions. Moreover, it also opens new avenues in the lending market, expanding its potential reach.

ESG factors are revolutionising the mortgage and business loan services industry. Cutting-edge technology solutions empower eco-friendly approaches, broaden access to homeownership, and foster financial inclusivity. This ultimately yields advantages for both financial institutions and borrowers alike.


Author

Kalpesh Mistry,
Senior Vice President

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Keeping your data protected from ransomware attack in the new era /keeping-your-data-protected-from-ransomware-attack-in-the-new-era/ Mon, 03 Jan 2022 07:11:34 +0000 /?p=37412 As per IBM X-Force Threat Intelligence report, Ransomware was the top threat type, comprising 23% of attacks.聽In 2019, the U.S. was hit by an unprecedented and unrelenting barrage of ransomware […]

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As per , Ransomware was the top threat type, comprising 23% of attacks.聽In 2019, the U.S. was hit by an unprecedented and unrelenting barrage of ransomware attacks that impacted at least 966 government agencies, educational establishments and healthcare providers at a potential cost in excess of $7.5 billion (). Average Data breach costs increased significantly from $3.86 million in 2020 to $4.24 million in 2021 (). Ransomware attacks cost an average of $4.62 million, more expensive than the average data breach ($4.24 million). Malicious attacks that destroyed data in destructive wiper-style attacks cost an average of $4.69 million.

The number of organizations deciding to pay a ransom has risen to 32% in 2021 compared to 26% in 2020 (). Even after paying for Ransomware, only 8% of them got all their data back, nearly a third, 29%, couldn’t recover more than half the encrypted data. However, on average, only 65% of the encrypted data was restored after the ransom was paid. Approximately 37% of global organizations (more than one third) said they were the victim of some form of Ransomware attack in 2021 (IDC’s “). 92% who pay don鈥檛 get their data Back (.

We all know that Confidentiality, Integrity and Availability are the 3 pillars of security. Integrity of Data is an important dimension, which means that data has not been altered in an unauthorized manner when data is 鈥渁t rest, getting processed, or in transit鈥�. Here we will be focusing only on 鈥渁t rest鈥� Data related to Ransomware. It鈥檚 evident that, while there is a high level of efforts required to prevent 鈥淎ttackers from getting in鈥� or 鈥渆scalating their privileges within system鈥� the best bet for an organization remains to 鈥淧rotect their critical data from unauthorized access and destruction鈥�.

Ransomware attacks focus on encrypting any data to which they could get write access, including the backup system. This may also happen due to poorly implemented permissions that exposed backup data stored anywhere. This makes Ransomware attack more effective because organizations can鈥檛 recover data from backup systems.

The big step towards getting data protected is to have isolated, immutable backup of data which is not accessed in general and have very strict administrative access authentication, authorization adjustments for a set of admins. There was a time when data backup on physical tapes were kept off-site to be protected from any Data center physical damage as part of BCP/DR approach. That was one of the best ways to ensure data integrity. We should leverage Cloud offerings which are equally effective to protect data from any Ransomware attack.

Now let鈥檚 discuss about immutable backup methods which will be the key ask here. Azure has introduced Blob storage options to operate like an Immutable storage and enables users to store business-critical data in a WORM (Write Once, Read Many) state for a defined time interval. While in a WORM state, data objects can be created and read, but cannot be modified or deleted for a user-specified interval. By configuring immutability policies for blob data, customers can protect their data from overwriting and deletion. Another benefit of Azure Blob storage is having a legal hold, which stores immutable data until the legal hold is explicitly cleared. When a legal hold is set, objects can be created and read, but not modified or deleted. It鈥檚 important to understand how immutability is implemented and whether it is truly聽WORM, even if OS administration accounts are compromised.

Those who are on AWS platform, can use AWS Backup Vault Lock to prevent (accidental or malicious action) any user from deleting their backups or making changes to their backup lifecycle settings. AWS Backup Vault Lock (S3 Glacier) improves customer鈥檚 security postures and ensures a mechanism for restore, even in a worst-case scenario like total account compromise. Another service that鈥檚 useful for data protection is the AWS object storage S3, where you can use features such as聽object versioning聽to help prevent objects from being overwritten with Ransomware-encrypted files, or聽Object Lock (S3), which provides a write once, read many (WORM) solutions to help prevent objects from ever being modified or overwritten.聽

You can use Compliance聽retention mode if you never want any user, including the root user in your AWS account, to be able to delete the objects during a pre-defined retention period. You can use Legal Hold as an infinite retention period. Once applied it is not possible to delete any object until the hold is released manually (only by users with special permissions). Every backup within the retention period is an immutable backup with point-in-time restore capabilities. Also, we have S3 MFA delete-enabled bucket option which safeguard from permanent delete of an object version or change the versioning state of the bucket.

Similarly, GCP storage containers with Bucket Lock offers write-once (WORM), immutable storage to meet your compliance standards and ensure your data鈥檚 integrity while offering instantaneous access for quick restores. As part of protection, once you lock a bucket, you cannot unlock it until all objects are out of the retention period. Retention policies prevent the deletion or modification of the bucket鈥檚 objects. Applying Bucket Lock聽to a storage bucket in the Archive class can help you achieve WORM compliance for long-term data archival as well.

Apart from introducing immutable backup options which provide a secure storage for your data, we all know initial steps such as to keep multiple copies of data backup (keeping data off-site), use a standard practice of Multi-Factor Authentication (MFA) for administrative accounts, separation of administrative roles. We also need to enable encryption of the data and segment the workflow so that authorized systems and users have limited access to use the key material to decrypt the data. We know that network sharing protocols work well for general-purpose file sharing. However, minor mistakes in permissions can lead to data being exposed. In place of using them, we recommend using object storage APIs, for example Amazon S3 compatible APIs, virtual tape libraries, or keep storage as 鈥渓ocal鈥� to the backup server (do not access over a network sharing protocols).

Interesting part to understand here is, the technology which was initially introduced for a security compliance requirement to keep the golden copy of any data for later auditing or reconciliation, has taken a shift to be also used to safeguard from ransomware attacks to maintain integrity of data. Cloud storage is an economical solution because resources are readily available, is scalable, and multi-tiered.


Author:

Deepak Kumar,
Cloud Practice Head,
乐播传媒视频

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Seamless management of Multi Cloud environment /seamless-management-of-multi-cloud-environment/ Fri, 13 Aug 2021 09:06:40 +0000 /?p=36670 While most of the enterprises are in process of adopting Cloud first model, many who started their journey much ahead, are planning to reap the benefits of having different Hyperscalers […]

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While most of the enterprises are in process of adopting Cloud first model, many who started their journey much ahead, are planning to reap the benefits of having different Hyperscalers in the market offering different advantages on their platforms with matured services. This is the driver to adopt a multi cloud strategy. They are utilizing a variety of cloud platforms in combination of hyperscale such as Azure, AWS, Google Cloud, IBM Cloud, VMware, while some of them continue to run certain mission critical applications on on-premises environment. The goal is to utilize more effective platform services by evaluating, doing POCs to pick & choose, what fits into their requirements, such as performance, efficiency, high-availability, cost optimization, ease of manageability, scalability, RPO / RTO, data loss prevention, meeting security and compliance requirements, while integrating advanced technologies.

Analysts predicted that by now, . While at one side this strategy presents several obvious benefits, on other side it increases complexities that can result in unproductive resources, poor cost management, regulatory risks & security concerns. Choosing the right multi-cloud management tool can take away these headaches, without compromising business goals, by adopting efficient and outcome-based model.

Hyperscalers recognize this need and provide their native tools. While such tools are useful, many may add more costs to achieve more granular control over infra services. Not surprisingly, enterprises are looking for solutions that provide comprehensive coverage of their needs and helps in multi and hybrid cloud management & governance. They are continuously hunting for such tools to manage IT Estate from a single interface:

  • Live monitoring of resources across providers and on-prem
  • Manage accounts and configurations across cloud environments
  • Setup quotas, thresholds, and workflow approvals
  • Provide comprehensive governance controls
  • Generate recommendations for cost optimization, handle overall spend and chargebacks Visibility into resource
  • usage, security and compliance and recommendations

There is a great need for such tools that can cut across cloud environments. This is clear from the fact that . The solution is a reliable integrated Cloud Management Platform (CMP) with the power to ensure that the enterprise leverages the full potential of its cloud investments and delivers projected ROI.

乐播传媒视频 provides a fully packaged CMP that not only meets the complex requirements of managing multi and hybrid cloud but is also customized to meet specific domain and business needs. Our automated solution comprises of CloudBolt and Azure Arc which can offer:

  • Simplified & Consistent management
  • Cost optimization & Recommendations
  • Centralized orchestration, provisioning, reporting and automation
  • Simplified security audits and compliance checks
  • Accelerate workload delivery through self-service IT

The outcome is reduced costs, improved resilience, flexibility, and security, with right control along with well architected deployment and accelerate multi-cloud adoption. The best part about our solution is our approach to provide simple, seamless, and easy deployment across the board


Author:

Deepak Kumar
Cloud Practice Head 聽

Abhishek Asija
Cloud Architect

Jay Prakash Shukla
Sr. Cloud Architect 聽


 

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Address skilling to beat the chief barrier to cloud adoption /address-skilling-to-beat-the-chief-barrier-to-cloud-adoption/ Fri, 30 Apr 2021 05:28:07 +0000 /?p=36067 COVID-19 has been the Digital Transformation Officer for global enterprises, pushing them into cloud adoption. The mindset of organizations evolved, rapidly, in the last 14 months, to put hyper-scalers into […]

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COVID-19 has been the Digital Transformation Officer for global enterprises, pushing them into cloud adoption. The mindset of organizations evolved, rapidly, in the last 14 months, to put hyper-scalers into their technology supply chain. This rush to cloudify has resulted in:

  1. The demand for reliable cloud expertise going up. This demand is for assessment and advisories from large enterprises. They have a cloud strategy in place along with the budgets but are stuck because they are unable to look at cloud implementations through the lens of risk, security and ROI.
  2. The realization that the overall cost of cloud is higher than what is commonly believed. The most commonly held belief is that cloud results in cost reduction. This is true of the long-term. In the short term, the paradox of cost results from the fact that exploiting cloud requires an optimization of technology 鈥� applications, data, networks and operating models鈥攁nd benefits are tied to net spends.
  3. The lack of cloud talent being seen as a showstopper. Cloud skills are hard to find. The spectrum of work called for by cloud is diverse, encompassing infrastructure, migration, storage, networks, portfolio adaptability, SaaS, an understanding of cloud providers, serverless architecture, security, change management, DevOps, Artificial Intelligence, Machine Learning, automation, etc. University cloud programs are not mature, businesses do not have adequate infrastructure such as labs for in-house training programs and there is uncertainty about regulatory readiness making customers nervous about where to keep their data as we evolve into a boundaryless paradigm.

According to Gartner, just public cloud end-user spending will grow 18.4% in 2021, to total $304.9 billion, up from $257.5 billion in 2020. NASSCOM data (from Zinnov) shows that demand for cloud skills will balloon, leading to a 39% increase in open positions. These figures indicate that CIOs don鈥檛 have a choice. They have to go ahead with cloud adoption with an eye on scalability, shorter deployment cycles, the ability to innovate, access to a rich application eco system, and push-button channel integration that will provide good market responsiveness.

But here is the truth: For every $100 they currently spent on on-premise, it will cost them just $30 for managed assets on cloud. This spells major savings, allowing organizations to release large budgets for investments in innovation programs. But none of this will be possible if skilling remains a challenge. Creating the right talent is the solution.

To achieve skilling at scale, we urgently need a variety of initiatives. These can be private, public or based on private-public partnership (PPP) models. This is where programs like NASSCOM鈥檚 鈥榝utureskills prime鈥� fit in. It addresses the problem of skilling by aiming to upskill 400,000 people over 3 years across 10 emerging technologies and 10 professional skills. The program uses a public-private partnership model for business success and content that is AI-curated and hand-picked (by industry SMEs) for learning success.

However, the goal of the futureskills initiative runs deeper than upskilling鈥攊t is aimed at creating competency standards (knowledge required to perform a job, key functions that need to be undertaken and the skills required to do this effectively) called National Occupational Standards (NOS). To support NOS, a common language is being created. This will provide a clear and shared understanding when jobs and roles are discussed across academia, industry and government.

We need dozens of such skilling initiatives. Without them, organizations will be left stranded. They will not have the talent pipeline which can respond to the accelerated demand for cloud. For the moment, the priority of every organizations with the ambition of riding the cloud wave should be to create the talent that will take them into the future.


Reference:


Author:

Narasimha Moorthy
Vice President and Head of ADM Service Line
乐播传媒视频


 

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