Many businesses and individuals are familiar with the concept of cloud backups. All major providers as well as consumer manufacturers like Apple offer easy methods with which to back up data to cloud storage. Using the provider’s resources eliminates the need for clients to purchase hardware and keeps backups offsite where they are safely separated from the original data.

Data lakes are centralized repositories that are used to store, process, and secure large amounts of data. Data lakes can handle structured, semistructured, and unstructured data in its native format. They are becoming increasingly important to data-driven businesses looking to maximize the value of big data and enterprise information resources.

Banks and other financial institutions demand a high degree of security, compliance, and performance to protect their information technology (IT) resources. In many cases, the demand for security has been addressed with in-house legacy systems relying on mainframe computing power. But the growth of e-commerce and cryptocurrencies has led some financial services decision-makers to look for alternative solutions.