White Paper 'Demystifies' the Cloud for Wealth Managers

External IT's Latest White Paper Identifies Management & Oversight Best Practices for Implementing Cloud-Based Solutions

Apr 04, 2017, 08:38 ET from External IT

NEW YORK, April 4, 2017 /PRNewswire/ -- External IT has published a new white paper, "Not All Clouds are Equal—Demystifying the 'Public vs. Private' Debate," to educate wealth management professionals about cloud computing, and how to identify the most secure and efficient cloud-based technology solution for their businesses.

The white paper can be downloaded from the External IT website:

"Cloud computing has fast become the 'new normal' in IT, but many professionals in wealth management have only a vague idea of what 'the cloud' actually is, and how the cloud can be leveraged across their organizations," said Sam Attias, Managing Director at External IT. "The cloud can help wealth managers secure their firms' critical information and workflows, as well as optimize business processes for servicing clients. However, in a highly regulated industry like financial services, the use of the cloud requires robust management and oversight—and not all clouds are created equal in terms of how they are managed and delivered. We drafted this white paper to help wealth managers understand what is necessary to operate in the cloud, and how to identify the right approach before making the transition." 

The white paper analyzes the potential advantages, and drawbacks, of public and private cloud platforms for wealth management firms, as well as hybrid cloud solutions that seek to combine the cost-efficiency of public clouds with the customization, and greater security and compliance controls, of private clouds. The white paper also discusses the criteria that wealth managers should use to evaluate potential cloud service providers, including:

  • Industry & Technical Expertise
  • Security & Compliance Requirements
  • Third-Party Validation & Accreditation
  • Established Customer Base & References
  • Support

About External IT and workplace wealth_
External IT provides workplace wealth_, a secure digital hub which enables financial services organizations to aggregate their IT—all their apps and data—in a centralized cloud where they can be secured and controlled, while giving employees the flexibility to access all their tools and information from any firm-approved device, anywhere.  

workplace wealth_ can seamlessly integrate technology applications, and allows financial institutions and advisors to control them through single-sign-on access. RIAs and broker-dealers can deliver the workplace wealth_ solution to advisors and their clients using a software overlay, ensuring advisors can continue to meet cybersecurity and compliance challenges as they grow. For more information about workplace wealth_ and External IT, please visit www.externalit.com and follow us on Twitter at @externalit.

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SOURCE External IT