Accelerate your transformation
Learn how to better navigate your cloud journey
UNLOCK THE FULL VALUE OF THE CLOUD
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contents
Get peace of mind by design
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Defend in depth
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Assess security threats
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Modernize faster
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Make sure you’re cloud-ready
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Realize your potential in the cloud
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What makes a modern business?
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Thrive with resilient, modern operations
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WHAT MAKES A MODERN BUSINESS?
Did you know?
Maneesh Sharma VP, Managed Cloud Services, FIS
Cloud adoption enables you to respond to business demands more quickly and provides additional stability and agility to your operations. A trusted managed cloud service provider can fast track your cloud journey and help bring success to your entire cloud strategy.
But as the modeling environment gets more complex, models become more costly to build and run.
“Today, cloud is much more than a mandate for operating in a digital world—it’s where breakthrough innovation and transformation take place.”
To deliver on all fronts, you need peak performance without driving up costs.
You want to digitally transform your business. That makes sense. Your customers expect it. It will make you more efficient. It could improve your competitive edge. But how do you go about it – and where do you start? The short answer is, “in the cloud.” If you want to take advantage of the latest innovations, scale fast to new requirements and provide a truly modern customer experience, the cloud is the solution. We won’t pretend that moving to the cloud is easy or free of risks. But we will show you ways to make modernization simpler and safer.
Insurance companies are more aware than ever of the wealth of information at their disposal. Their ability to extract value from data using advanced analytics has become critical to competitive advantage.
For actuaries, the pressure is on to gain greater insights from big data and rapidly transform modeling results into business intelligence.
32
%
Cloud services are projected to reach an annual growth rate of 32% by 2025.
The race to the cloud: Reaching the inflection point to long sought value, 2023
Accenture
Today, cloud is much more than a mandate for operating in a digital world—it’s where breakthrough innovation and transformation take place.
McKinsey Analysis, 2022
IaaS + PaaS Revenue Gartner 2018 and 2020 Reports
Rick Yuan Head of actuarial modeling and transformation, AIA Group
We needed to run a projection tens of thousands of times to come out with a range of possibilities. One solution was to purchase more hardware, but the obvious winner was move to the public cloud. The beauty is you can tap that capacity when you need it and switch it off when you’ve finished the calculation.
REALIZE YOUR POTENTIAL IN THE CLOUD
75%
Ideally, you should start your digital transformation from the ground up – at the application level.
The cloud is more than just another place to run your systems and store your data. It’s also about more than saving money. Moving to the cloud could bring your firm a host of transformative benefits. But to maximize the opportunity and get real business value, you can’t just “lift and shift” your existing systems wholesale to cloud infrastructure.
In an ideal cloud environment, you can:
Innovate constantly Execute more efficiently Scale at high speed to growth Access new functions faster Pay only for what you use Reduce time to value Gain competitive advantage
With so much costly, inflexible IT to manage, your on-site infrastructure could be holding you back.
45
45% of companies fully achieving their outcomes are using managed cloud services to a great degree.
Three big moves that can decide a financial institution’s future in the cloud, 2022
McKinsey
Fortune 500 financial institutions alone could generate as much as $60 billion to $80 billion in run-rate EBITDA in 2030 by making the most of the cost-optimization levers and business use cases unlocked by cloud.
MAKE SURE YOU ARE CLOUD-READY
30%
43%
Trevor Madelly VP, Application Services, FIS
With serverless cloud-native computing, you can focus on business logic instead of infrastructure, and deliver more scalable, event-driven systems and experiences. But moving legacy applications to the cloud doesn’t make them cloud native. You need to modernize them, too.
Are you ready to join the highest flyers?
Major cloud modernization challenges are common when organizations maintain:
For many firms, some applications may be harder to modernize for the cloud than others. Again, automation is the answer.
To get the best from the cloud and drive down your time to value, you need to make sure your legacy applications are in the right shape for cloud migration. Automated source code analysis can help you do just that, with an objective assessment of your software portfolio. In seconds, a scan will show which custom-built applications to keep, consolidate or retire. For instant 20% cost savings, the same scan can show you what to rationalize, modernize and essentially make cloud native.
But beyond lockdown conditions, there are more reasons than ever to run your organization’s most powerful systems in the cloud.
In 2020, unprecedented global circumstances have shown us all the benefits of hosted IT for business continuity and remote working.
Cloud unfriendly applications Outsourced solutions of poor structural quality Large, highly complex systems Old technology patched with new functionality
40
Over 40% of businesses struggle to understand the dependencies and architecture of existing apps before cloud migration.
Cloud Workload Analysis: How to Determine the Configuration, 2022
PhoenixNAP
Reverse-engineering tools can quickly provide the deep analysis of application structures that is critical to modernization – and identify not only downstream impacts, but also candidates for microservices.
MODERNIZE FASTER
Deliver speed and scale
Save time
Eliminate risk
Now you can truly go native in – and get the very best from – the cloud. But how can you be sure your applications stay secure?
A new generation of innovative development tools allow you to rapidly reverse engineer the architecture of applications: their database structures, code components and interdependencies with other software. If it’s proven to be a candidate for cloud migration, even the largest, oldest or most complex application can be quickly modernized – without wasting precious development time on understanding how its code works.
Managed cloud services give you the power and scalability of a sophisticated actuarial modeling and risk management platform, but reduce the challenges, costs and risks of provisioning infrastructure and managing the underlying IT.
Hand every aspect of complex modeling technology to an expert provider and you'll reep the benefits:
The Business Case for Cloud Modernization, 2022
GigaOM
4X
With cloud modernization, deployment of ideas from inception to production becomes 4X faster.
The Institute of Electrical and Electronic Engineers and CAST
58
In modernization projects, 58% of a developer’s time can be spent analyzing code. By automatically visualizing the code base, new reverse-engineering tools cut that time in half.
ASSESS SECURITY THREATS
Mike Kirby Head of Managed Risk and Cybersecurity Services, FIS
The tools that are needed to keep cloud workloads and devices protected can be very expensive and maintaining them requires specialized skills.
Financial institutions face major modernization challenges as they often maintain:
Defenses are soon outmoded. You need complete, embedded breach prevention to keep your systems safe.
There’s no escaping the fact that with wider cloud adoption comes the need for enhanced cybersecurity measures. But knowledge is power – and it pays to understand exactly how threats are evolving. Cybercrime is not only rising at a staggering rate but also constantly exploiting new vulnerabilities. Not so long ago, malware was responsible for most breaches. Now that’s no longer the case, as criminals find more, often fileless ways to infiltrate cloud-native tools and serverless computing environments.
The State of Ransomware in Financial Services, 2022
Sophos
55% of financial service firms were victims of at least one attack in 2021, up from 34% in the previous year
Navigating Cyber Report, 2022
FS-ISAC
Rapid digitization of the financial sector has led to an increase in global cyber threats around the world.
Through managed cloud and cybersecurity services, organizations of all types can benefit from the same strictly regulated levels of security as financial institutions.
DEFEND IN DEPTH
Imagine if all this was available in a single managed service.
Software alone is not enough to protect your firm’s hardware, software and data against cybercrime. For ironclad security, around the clock, you need a combination of the right people, processes, tools and data protection strategy. You also need partnerships with world-leading authorities in cybersecurity – organizations with which you can share the latest intelligence and best practice countermeasures.
Protect data Taking a data-centric approach Defend in layers Layering, segregating and monitoring infrastructure 24/7 Manage the threats Aggressive incident response Guarantee excellence Supported by world-class professionals with ongoing training
The State of Cybersecurity 2022 Report
ISACA.org
70
Nearly 70% of organizations report a labor shortage for their security team.
GET PEACE OF MIND BY DESIGN
With a managed service from a leading fintech provider, organizations can move forward in their modernization initiatives with more confidence, backed by security processes and practices that have taken years to mature.
Modernized operations deserve sophisticated security. With a managed service, you’re in safe hands.
With the steep cost of premier security tools and a lack of qualified talent to configure them, there is a significant industry shortfall between security capabilities and security needs. As part of your modernization strategy, a managed cybersecurity service will bridge the gap – providing both the tier-one, cloud-native technology and the world-class expertise and experience you need to stay ahead of the latest threats. And as the service itself will be heavily regulated, you’ll keep on top of changing compliance requirements, too.
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More than 55% of compliance officers expect more involvement in assessing cyber resilience.
Cost of Compliance 2022: Competing Priorities
Thomson Reuters
Prevent more cyberattacks Detect threats faster Investigate key risks more efficiently Respond more effectively and in less time
A managed cybersecurity service can help you:
Trust us. Cloud adoption has never been easier or safer.
With cloud-native fintech, innovative technology partnerships and expert managed services from FIS®, backed by years of experience supporting hundreds of businesses throughout their cloud journeys, organizations of all types can navigate a clear path to the cloud and defend against cyberthreats when they get there.
DON’T JUST SURVIVE. THRIVE WITH RESILIENT MODERN OPERATIONS
Learn more here
• Design, manage and monitor an optimized cloud environment that meets your unique needs, and supports your end users • Modernize and migrate your proprietary applications • Drive proactive IT development deeper into your firm’s DNA • Optimize cybersecurity to protect your devices, environments and data • Future-proof your operations against new cyber risks and compliance requirements • Utilize cost-effective cyber insurance against attacks
We have the tools and the talent to help your firm:
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About FIS
FIS is a leading provider of technology solutions for merchants, banks and capital markets firms globally. Our more than 55,000 people are dedicated to advancing the way the world pays, banks and invests by applying our scale, deep expertise and data-driven insights. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in Jacksonville, Florida, FIS is a Fortune 500® company and is a member of Standard & Poor’s 500® Index.
Insurance Risk Management without Compromise
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www.fisglobal.com
FIS is a leading provider of technology solutions for financial institutions and businesses of all sizes and across any industry globally. We enable the movement of commerce by unlocking the financial technology that powers the world’s economy. Our employees are dedicated to advancing the way the world pays, banks and invests through our trusted innovation, absolute performance and flexible architecture. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in Jacksonville, Florida, FIS ranks #241 on the 2021 Fortune 500 and is a member of Standard & Poor’s 500® Index.
