Private cloud for Financial Services

Private‌ ‌cloud‌ ‌technology‌ ‌allows‌ ‌financial‌ ‌institutions‌ ‌to‌ ‌drive‌ ‌business‌ ‌agility‌ and‌ ‌to‌ rapidly‌ ‌respond‌ ‌to‌ ‌changing‌ ‌needs‌ ‌dictated‌ ‌by‌ ‌users,‌ ‌regulations,‌ ‌and‌ ‌the‌ ‌market.‌ ‌A‌ ‌private‌ ‌cloud‌ ‌is‌ ‌an‌ ‌integral‌ ‌part‌ ‌of‌ ‌a‌ ‌hybrid‌ ‌multi-cloud‌ ‌strategy‌ ‌for‌ ‌financial‌ ‌services‌ ‌organisations.‌ ‌It‌ ‌enables‌ financial‌ ‌institutions‌ ‌to‌ ‌derive‌ ‌competitive‌ ‌advantage‌ ‌from‌ ‌agile‌ ‌implementations‌ ‌without‌ ‌incurring‌ ‌the‌ ‌security‌ ‌and‌ ‌business‌ ‌risks‌ ‌of‌ ‌a‌ public‌ ‌cloud.‌

Over the years, OpenStack has become a de-facto standard for building private clouds. Built‌ ‌from‌ ‌multiple‌ ‌sub-projects‌ ‌as‌ ‌a‌ ‌modular‌ ‌system‌, OpenStack‌ ‌allows‌ ‌financial‌ ‌institutions‌ ‌to‌ ‌build‌ ‌out‌ ‌a‌ ‌scalable‌ ‌private‌ ‌(or‌ ‌hybrid)‌ ‌cloud‌ ‌architecture‌ ‌that‌ ‌is‌ ‌based‌ ‌on‌ ‌open‌ ‌standards.‌

Thousands‌ ‌of‌ ‌companies‌ ‌across‌ ‌various‌ ‌industries‌ ‌are‌ ‌using‌ ‌OpenStack‌ ‌including‌ ‌financial‌ ‌services‌ ‌firms‌ ‌like‌ ‌PayPal‌ ‌and‌ ‌Wells‌ ‌Fargo.‌ ‌These‌ ‌companies‌ ‌are‌ ‌successfully‌ ‌leveraging‌ ‌the‌ ‌capabilities‌ ‌of‌ ‌OpenStack‌ ‌software‌ ‌that‌ ‌enables‌ ‌efficient‌ ‌resource‌ ‌pooling,‌ ‌elastic‌ ‌scalability‌ ‌and‌ ‌self-service‌ ‌provisioning‌ ‌for‌ ‌end‌ ‌users.‌ ‌

Canonical and Red Hat both offer their own production-grade OpenStack distribution. This whitepaper

  • Provides a detailed comparison of Red Hat OpenStack Platform and Canonical’s Charmed OpenStack.
  • Demonstrates how the differences in both distributions impact the business value from the perspective of operational costs, flexibility and simplicity of use.
  • Highlights that choosing the right OpenStack distribution is an important decision for financial institutions planning to deploy OpenStack.