Filson Fintech Case Assignment 1

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Fintech Case Assignment 1 Corey N. Filson George Herbert Walker School of Business & Technology, Webster University MNGT 6000 Integrated Studies in Management Professor William Griffin williamgriffin09@webster.edu , 2023
Do you have to move Fintech to cloud-based services? Yes, Fintech must move to a cloud-based service to remain relevant. Cloud-based services will allow Fintech to focus on transaction tracking and providing relevant, helpful information to their clients. The information will let clients know when, where, to whom, and how much to sell. This lets Fintech focus on keeping the “main thing, the main thing.” Since the IT infrastructure would be off-site and not managed by Fintech they can foucs just on their mission and tasking. “Cloud providers often offer IT and security resources that you may not have in-house.” This obviates Fintech from the burden of “IT work.” (SEI 2023) The remote nature of Fintech’s clients and points of sale is another reason to move to the cloud. The client’s ability to make transactions from anywhere at any time makes the cloud more convenient. Can Fintech protect the privacy of its customers? Yes cloud services like AWS have built-in security and provide tools, documents, and training to keep your data safe on the cloud (Zang 2018). This is because AWS uses a (Shared responsibility model) where the host is responsible for the security “of” the cloud (commutations, storage of data, databases, and networks) (Amazon 2019), and the customer is responsible for security “in” the cloud. If AWS builds a very strong and secure house for you, it is still your responsibility to ensure the right people have the keys. Can Fintech stay competitive without going to cloud services? No. As more and more of Fintech’s competitors transition to coud-based systems, they will begin to fall behind. The will spend more on IT support and infrastructure. They will be at
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