Last Updated on July 27, 2022 by
Over the last decade and a half, Infrastructure-as-a-Service, also known as cloud computing has swept through all types of industries. Maintaining data on a server located and managed remotely is now a standard while keeping operations tied to hardware and locally hosted software is being phased out.
This is happening for needs that are simple as personal media storage to those that are as complex as financial trading turrets that are entirely hosted. Every day, traders, hedge fund managers, bankers, and other professionals are using cloud-hosted trader voice platforms instead of desk-based trading systems, and they’re doing so from their home computers, cell phones, and tablets.
Turret as a Service and similar cloud-hosted communication capabilities are increasing flexibility for many companies and organizations, but there are questions over how this freedom affects security, communications protocol, and regulatory compliance.
Regulatory compliance and secure communication are vital to the financial industry, but the integrity of cloud-based communications and data management is a major concern for all types of businesses. Infrastructure-as-a-Service may be the norm, but does that mean it’s better?
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How Is Security Maintained On The Cloud?
Cloud-based platforms maintain security through a series of measures that are different from those that are commonly used on locally hosted systems, like those maintained on company hard drives. Local security measures on these systems will most commonly include password protection and possibly additional security programs and services, such as anti-malware and virus scanning programs. In the past, these measures were sufficient for light to moderate needs, but for modern communications and business operations, more robust resources are required.
Although a cloud-based system is maintained far from the hardware and devices used to access it, its security infrastructure is more complex and concrete than that which can be maintained through a locally managed system. These expansive server systems employ security that includes encryption of all data, built-in firewalls and security algorithms, and other more extensive protective measures that continuously guard against threats like ransomware attacks, malware, and hacking attempts, all of which can easily take down a locally maintained system.
How Does It Apply To Communications?
It’s easy to see how cloud-maintained data applies to things like documents, images, and other media, but how does this work for communication capabilities like voice-to-voice communication, call recording, and virtual meetings? Cloud-based communications technology, such as VoIP calls and recordings, remote meetings, instant messages, and trading turret activity, etc. are maintained in the same manner as other data. This means the communication is encrypted and secured in kind.
Additional advantages for keeping communication on a cloud-based system are the breadth and frequency of backups as well as fewer limits on storage, which are very favorable for regulatory compliance measures that are related to call recordings and audio files. When careful records of all calls, exchanges, and transactions must be rigorously maintained, a cloud-based solution makes a lot more sense and removes much of the vulnerability that’s inherent to locally-maintained hardware.
Utilizing a cloud-based communication platform doesn’t mean all security measures are a given. When choosing a voice turret or other cloud-based communications system provider, make sure to confirm that data will be automatically encrypted and disaster-recovery capabilities are included. There are also things users should do on a regular basis to ensure that optimal security is maintained, including keeping all cloud-connected software and hardware operating systems up to date, as well as completing their own external hard drive backups.