In a previous blog post, we debunked 3 credit union cloud computing myths, and we’re here to do it again. Cloud computing has been gaining popularity for years, but the events of 2020 and 2021 have accelerated widespread adoption. And with that rapid change comes new concerns. Let’s debunk 3 more common credit union cloud myths.
Myth: The Cloud is Only Good for Backup & Disaster Recovery
This myth is a little difficult to debunk because we must omit just a single word (“only”) from the myth to make it true. Cloud computing is a secure way to back up your data, and it’s also an effective option for disaster recovery practices.
But this is just the tip of the iceberg. For example, IMS’s Private Cloud Services also include:
- Infrastructure-as-a-Service provides a safe and secure home for your servers
- Core Hosting: IMS can manage and operate your credit union’s core system to whatever extent you need
- Virtual Desktop provides a complete virtual workspace, a crucial element in this newly remote world.
- Colocation Services keeps your data perpetually available by adding redundancy to your systems.
Myth: One Cloud Will Rule Them All
There’s also a prevailing double-edged cloud myth, and it is that you either need to be extra meticulous in choosing the one cloud solution that will “do it all,” or that once you have broken the seal and start using one cloud service, you’ll end up needing dozens or hundreds of different cloud providers in order to successfully do all the things you were already achieving with your in-house or data center-based system.
Many organizations choose a multi-cloud strategy, but that doesn’t mean you can’t have success with one cloud, and it also doesn’t mean that you will have to collect cloud management systems the way people collect stamps or comic books.
Myth: Cloud Data = Public Data
Another extremely common cloud myth is that once it’s in the cloud, your data is accessible to the public – as in everyone. There are tons of jokes in movie scenes about how once something is up in the cloud, you can’t get it down, and the information (no matter how private or incriminating) is now broadcast for all the world to see.
The Florida Institute of Certified Public Accountants shared some great insight on why this notion is a myth: “There are public clouds (shared environments) and private clouds (dedicated environments.”
Public clouds like Google, for example, have multiple tenants and typically operate under pay-as-you-go models. A private cloud, however, is a single-tenant environment where all hardware and network components are dedicated to one client (or business).
Either way, there are no options where storing your information in a cloud network is akin to putting your data on a public billboard or allowing random individuals access to your credit union’s sensitive business or member-based data.