Does My Michigan Community Bank or Credit Union Need Cloud Services?

Cloud Services: Michigan Community Banks and Credit Unions

The cloud is moving to the forefront of everyone’s minds – from c-level executives to board members to technology leaders. We’re here to tell you that the cloud SHOULD be on your mind. Why? Well… Imagine being able to respond to your customers in a moment’s notice or give them the information they’re requesting, even if you’re away on a trip or simply out of the office. Wouldn’t your customers think much higher of you? Wouldn’t they be more willing to recommend you to their colleagues, friends, and family members?

It’s a game-changer that enables anytime, anywhere access to important information while keeping sensitive data safe against threats. And at the end of the day, there’s one thing we know for certain: the bank of the future looks different than it does right now. We’ve bound to see:

• Alternative business models
• Evolving consumer expectations
• Advancing technologies

Your customers want and expect more from you now than they did a few years ago. This is only going to increase as time goes on. They’re used to the way technology enables them to receive quicker, more efficient service from virtually all organizations they do business with.

CLIENT FIRST FOCUS
They are always willing to help with all your questions. Some places don’t have such good customer service. RedRock does.
Debra S.
Banking Customer | Muskegon, MI

Let us guide you on your cloud journey…

We’ve been working with community banks and credit unions as a full-service IT provider since 2007. Our team is composed of analysts, engineers, and security experts, as well as a Former State Examiner. The experience we have working in the financial services industry for over a decade makes us uniquely qualified to provide guidance on cloud computing, and more specifically, whether or not you need to move to the cloud.

What is the cloud?

The cloud refers to any sort of services and/or software or hardware that are made accessible via the internet instead of locally within your own environment. Basically, cloud computing refers to the on-demand availability of resources, such as data, desktops, applications, storage, and other equipment, without the need to purchase, maintain, and support equipment on an ongoing basis.

Does the cloud work for community banks and credit unions?

Now more than ever before, leaders in the financial services sector are realizing the power of the cloud as a way to store, access, and secure sensitive data, and in turn, allow for greater customer service. But over the past few years, many community banks and credit unions have been cautious and hesitant about the cloud. Why? Because they have concerns in terms of data security, banking supervision, and overall, choosing a cloud service provider that meets their unique compliance needs.

How safe is the cloud for community banks and credit unions?

Here’s an interesting fact to think about… The average community bank or credit union does put a lot of time and money into cybersecurity, but cybercriminals are advancing at an incredible rate. The cloud makes keeping your sensitive data safe against cybercrime even more affordable and doable because cloud providers have access to more resources, budget, and capabilities compared to the average community bank or credit union. You don’t have to worry about handling the expense and hassle of security on your own.

Most cloud providers have enterprise-grade security measures built-in to keep their data centers safe. Our own data centers are designed to ensure we’re meeting the regulatory requirements of anyone hosting their resources within them. Here are a few enterprise-grade security measures we have built-in:

• Advanced firewalls that inspect traveling data packets for the purpose of responding to threats as soon as possible.

• Intrusion detection to keep intruders from getting past the network’s first line of defense at any point.

• Event logging that offers greater insight into any sort of actions taken on the network for better compliance and/or security efforts.

• Encryption to keep all sensitive data stored at rest or in transit safe against unauthorized access if an intruder manages to get in.
• Physical security with around-the-clock monitoring and biometric access measures to keep the property safe.

Does the cloud help with disaster recovery and data availability?

Absolutely! Moving to the cloud helps with disaster recovery and data availability. Your remote branches are no longer reliant on the typical in-house, substandard data center (or basement closet) and internet connection at the main location. Instead, you obtain all the advantages of the following:

• Power redundancy
• Internet redundancy
• Air conditioning redundancy
• Around-the-clock, hands-on support of equipment

This is all backed by an entire team of experts, not one or two individuals taking care of everything on their own. You don’t have to worry about purchasing, maintaining, and supporting equipment like generators, routers, switches, etc.

What are your options for cloud services?

Community banks and credit unions have various options in terms of selecting a delivery model that works for their unique requirements. This includes:

• Private cloud: Infrastructure is only made available to you.

• Public cloud: Infrastructure is flexible and available to multiple users.

• Community cloud: Infrastructure is made available to a particular business community.
• Hybrid cloud: You use a mix of cloud delivery models to achieve an ideal environment.

How can you get started with cloud services?

Naturally, our recommendation is to work with an experienced IT provider that offers cloud services for community banks and credit unions. Although there are a few options out there, we’re uniquely positioned to better serve your needs as we have extensive experience in FFIEC regulations and exam guidance, as well as operating a data center designed with the unique needs of the financial services industry in mind. We even have a Former State Examiner on staff to give you extra peace of mind.

Just get in touch with us…

1. Book an in-depth review with Curtis Perry, Former State Examiner.
2. Find out if the cloud is right for you and what cloud delivery model will work best.
3. Enjoy a seamless migration to the cloud for greater productivity and higher efficiency.

Randall Brinks

RedRock offers a full range of compliance-focused IT services including help desk, server and network management, perimeter and endpoint security, and associated hardware and software. What makes us unique is how we bake security into everything we do. We are regulated by the FDIC, NCUA, and DIFS. We undergo regular exams and audits by 3rd party assessors. This oversight offers our customers the peace of mind that multiple entities look at our products, policies, procedures, financials, etc.