Layer3Cloud, the leading Infrastructure as a Service cloud provider in Nigeria, is here to help the Fintech companies in the country to explore the opportunities presented by the recent announcement of reduced maximum cash withdrawal limit by the Central Bank of Nigeria.
The new directive is aimed at curbing vote buying ahead of the 2023 general elections and to check and reduce the amount of cash in circulation. It is a move in the right direction, but it also requires Fintech companies to rethink their strategies and consider moving their operations to the cloud. In this blog post, we’ll look at why it is wise for Fintechs to position themselves strategically for the expected upsurge in e-transactions and ensure their hosting platforms can support the anticipated spike. Fintech applications that are currently hosted on Layer3Cloud’s cloud platform can boast of the following;
Reliable Infrastructure:
Layer3Cloud’s cloud infrastructure is designed to provide a highly secure and reliable environment for Fintech companies. With multiple availability zones and a suite of cloud security products, our customers can rest assured that their data and applications are well-protected. Our infrastructure is ISO-270017 and PCI-DSS certified, so Fintech companies can be confident that their data and transactions are secure.
Automated Disaster Recovery:
In the event of a disaster, having a robust disaster recovery plan is critical for Fintech companies. With Layer3Cloud’s automated disaster recovery solution, customers can rest assured that their data and applications are protected in case of any unforeseen circumstances. Our solution ensures that data is replicated across different availability zones and can be restored in a timely manner, minimizing downtime and ensuring business continuity.
Ease of Scalability:
As the use of e-transactions increases, the demand for Fintech services is also set to grow. With Layer3Cloud’s cloud infrastructure, Fintech companies can easily scale up or down their infrastructure to meet the changing demands of their customers. This means that they can quickly add or remove resources as required, without having to worry about the complexities of managing their own infrastructure.
Reduced Costs:
By moving to the cloud, Fintech companies can reduce their IT costs significantly. They no longer have to worry about the costs of hardware, software, and maintenance associated with running their own infrastructure. Layer3Cloud provides a pay-as-you-go model, so Fintech companies only pay for the resources they use, and can avoid the upfront costs associated with setting up their own infrastructure.
Improved Security:
The security of financial transactions is of utmost importance for Fintech companies. With Layer3Cloud, customers can be confident that their data and transactions are secure. Our infrastructure is designed to provide the highest levels of security, and our security products are designed to protect against a wide range of threats. Our ISO-270017 and PCI-DSS certifications further demonstrate our commitment to security.
In conclusion, the recent announcement by the CBN has created a new set of challenges and opportunities for Fintech companies in Nigeria. However, by moving to Layer3Cloud’s platform, they can overcome these challenges and reap the benefits of the cloud. With a reliable infrastructure, automated disaster recovery, ease of scalability, reduced costs, and improved security, Layer3Cloud is the ideal cloud platform for Fintech companies in Nigeria. Don’t wait any longer, sign up today and experience the benefits of the cloud for yourself!
