Fintechs choose cloud technologies in the hopes that the efficiency and scalability of cloud computing will give them a competitive advantage. But cloud adoption is no silver bullet. If done incorrectly, a migration to the cloud can cause costs to balloon instead of decreasing them, leading to frustration and even lost revenue.
Kinetic Skunk is an Amazon Web Services-certified partner offering cloud solutions with a specialisation in fintech start-ups. In this episode of TechCentral’s TCS+, Donovan Mulder, CEO at Kinetic Skunk, explains the ins and outs of cloud adoption for fintech companies.
Mulder delves into:
- The importance of timing when it comes to cloud adoption and when the best time is to plan for a migration into the cloud.
- Common errors fintechs that have already migrated to the cloud make that can cause costs to balloon out of control.
- Why developers are often not the right people to handle cloud infrastructure architecting and provisioning (hint: it’s a completely different skill set).
- How gaps in cloud infrastructure architecture can lead to security holes.
- The cost optimisation tools available in the AWS cloud environment.
- How tools such as the AWS well-architected framework help fintech’s comply with regulations such as Popia and Fica.
- Advice for South African fintechs before their next cloud bill arrives.
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