IT infrastructure for the financial institution is very crucial. To be precise, the never-ending fight between on-premises solutions and cloud solutions keeps on going. On-premise might be older compared to the cloud solution but cloud solution had gained massive popularity with the growing time. Then the question arises, which one is better to choose and why?

Keep on reading the article to pick the right option…

On-Premise solutions:

These solutions refer to the software that runs on an in-house structure, basically the hosting is in-house.  It is a license-based program.

Cloud Solutions:

In this solution, the host is a third party, where your organisation just needs to pay for the basic needs and another source. Virtual technology is involved as the host.

Here are a few major differences between the on-premise and cloud solutions:

1.Deployment:

The resources are installed within a firm’s, IT infrastructure in an on-premises solution, and the firm is responsible for maintaining the solution.

In a cloud solution, the resources are introduced on the ground by the service provider. The firm can easily access those resources at any time whenever required without any issues.

2.Cost:

Based on the software installed, power consumption, space, and server hardware by the organization cost gets defined. The quality will let to define the price.

The organisation which uses a cloud solution needs to pay for the source used without any maintenance cost. The way of consumption might change the price a little bit.

3.Control:

In an on-premises solution, the organisation gets full control over the data. The organisation which requires extra privacy should go for an on-premises solution as everything is under their control.

In a cloud solution, the data is owned by various companies, the third part is involved when it comes up to control.

4.Security:

There are a few sectors and organisation which carries extra sensitive information and need to be kept safe and secure, an on-premise solution is the best option for them.

Talking about the security cloud solution still lags and cannot give a higher level of security. Many cases of the loss of intellectual property through the cloud solution had come into the scenario.

5.Compliance:

Various sectors need to keep their big data safe and easy to get when required, the on-premises solution does inform their organisation where their data is kept all the time.

But it is quite opposite in cloud solutions the organisation data could be even put forward to a third party without putting it out to the organisation that owns the data.

Summing up!!!

Through this article you can easily jot down the differences, it is not always the On-premise vs cloud solution but, choosing one which is more effective and set as per your company’s objectives is important.  On-premise gives you much better security while cloud solutions can be easily accessible and can easily fit into your budget. There might be many differences in the interface too.  Many different points to be noted down, so choose wisely.

Hope so this article was productive stay connected for more such blogs.