ELoanDocs

CASE STUDY 2

1. Should eLoanDocs continue with their current model of designing, building, and managing their own computer hosting infrastructure using their co-location partners?

According to my opinion, eLoanDocs should NOT continue with their present model of designing, building, as well as managing their own computer hosting infrastructure using their co-location partners. Their co-location partners including those in Cleveland and Seattle; though have helped them a lot in assuring a successful business for the company but this paperless solution to provide mortgage services to its customers was brought solely to reality with the purpose of incorporating technology into our daily lives.

eLoanDocs; a small software based company for mortgage purposes has seen a lot of expansion in a short span of time in comparison to its competitors but with the emerging technology, their exclusive policy of not using cloud based infrastructure is affecting its fiscal standings in market. As per the report “How cloud is being used in Financial Sector,” a lot of services like Amazon, Google, ORACLE, Microsoft and IBM have provided a lot of opportunity for many banks like Bank of America and Starling Bank to maximize their profits by minimizing the expenditure by paying only for the space that is being used by the enterprises instead of paying for the whole infrastructure irrespective of the percentage used. The private cloud service introduced provides the user with full control over their services and stored data.

With the recent technological advancement, the techniques of encryption and anonymization have minimized the security concerns and have provided with the maximum level of security enabling the customers to opt for online banking services as well. The highlighted concerns by eLoanDocs’ management raises back in 2015 about the cloud infrastructure have been well resolved by the introduction of hybrid cloud; a system configuration which involved the combined usage of public cloud, private cloud and dedicated server solutions for business. Not only it reduces the costs by saving $200,000 on technological costs per year, but also ensures the security benefits by using the internal servers along with the transfer of data and disaster recovery system to the cloud. The adaptation of this system not only ensures enhanced agility but provides the company to test new capabilities with less upfront investment.

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