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Cloud Myths Debunked, Straight Facts on Cloud Migrations

Your credit union’s security practices matter, and the safety of your members’ information is vital. Maintaining a strong, secure, cloud document management system will help your credit union thrive in the digital age. However, there are still individuals who fear the cloud, or do not trust that it is the right move. Emergifi set out to find some insightful information to share with anyone who is considering a digital transformation and cloud migration.

The cloud is a safe, compliant place to store your members’ data. When switching to the cloud, it is imperative that your system is set up and configured properly to safeguard your institution. One of the many deciding factors for credit unions looking at cloud migrations is if the tools used at the credit union are compliant with common financial services rules and regulations including, but not limited to: FFIEC; FINRA 4511; GLBA; SEC 17a-4 and SEC Regulation SCI; SOC 1, 2, and 3; and SOX. Emergifi will guide your credit union on which tweaks need to be made to your configuration so that you can ensure a safe and secure cloud environment for your employees and members. A key benefit of using cloud technology is the electronic audit trail. By establishing an electronic audit trail, your credit union can be more effective on exam day, saving you valuable time and resources. However, like most security procedures, your system is as only as good as your weakest human link. Although the cloud is perceived as more secure than traditional on-premise systems, it is ultimately the responsibility of the provider and the client (and all associated users) to engage in cybersecurity best practices. It is essential that your credit union actively trains, tests, and engages with your employees on cybersecurity.

Migrating to the cloud takes time, money, and resources. Transitioning to the cloud will not happen overnight, but our trained staff are readily available to assist you during this process. Emergifi has experience moving credit unions from on-premise servers to the cloud, including our parent company, Corporate Central Credit Union. Prior to migration, your credit union will be given a list of tasks to complete and notes to take to aid with the process. Emergifi will help your credit union develop a roadmap that covers guiding principles and requirements, associated costs and potential ROI, a comprehensive risk assessment, organizational changes and assigned responsibilities, and general IT architecture to ensure an effective, efficient transition. Emergifi has developed an A-Z checklist and project plan which we use with each of our clients to assist with complex migration scenarios so you can rest easy knowing your credit union will experience a successful switch.

Changing over to the cloud can be small and incremental. The fear of moving everything to the cloud all at once can paralyze your progress. Instead, start small with a hybrid cloud migration. Consider a multi-step approach to adopting cloud technology, such as migrating your on-premise email to Microsoft Exchange Online. Warm up your organization with smaller changes, and slowly adopt more and more cloud technology as it works for your team’s technical understanding and bandwidth. Once your credit union adopts the cloud into everyday practices, you can make larger strides with moving your files to SharePoint and OneDrive and adopting cloud communication systems like RingCentral or Microsoft Teams.

Moving to the cloud does not mean losing control. Cloud technology empowers your employees to be more productive and gain efficiencies in daily job duties. By adopting cloud technology, your management team will be able to reallocate individuals away from mundane administrative IT tasks, and instead focus on productive strategic initiatives your credit union has been pending for years. Emergifi is here to assist you and your credit union. For larger, more robust credit unions, Emergifi offers technical assistance with the rudiments and mechanics of cloud technology, how the migration works, and will develop and train your employees to take the reins through a comprehensive knowledge transfer. Our team works alongside yours to provide guidance each step of the way. Alternatively, we also recognize the substantial work load associated with moving to the cloud, especially for small to mid-size credit unions without a dedicated IT department, and are prepared to help with the heavy lifting from initiation to completion. As an added bonus, our team is available to work with your training department to develop curriculum and provide staff training so that you know you and your employees are starting off with your best foot forward.

Credit unions of all shapes and sizes can benefit from the cloud. A common myth about moving to the cloud is that to do so you need to be a large organization. Fortunately, the cloud allows smaller organizations to adopt new age technology and eliminate expensive on-premise servers, and cut costs associated with maintaining hardware and software for these systems. The cloud also allows smaller organizations to have more flexibility and scalability they may not have had previously.

Emergifi offers cloud implementation and migration services for credit unions. Contact us to learn more or give us a call at (414) 433-0177 and get started on your cloud transformation today.