Cloud Archiving & Application Retirement: The Smart Compliance Strategy for Modern Banks
In the age of digital transformation, modern banks are embracing a new compliance paradigm—one that goes beyond basic data storage. With evolving regulations like GDPR, SOX, and FINRA, financial institutions must manage legacy data intelligently while preparing for an AI-driven future.
The key to this transformation is cloud archiving combined with application retirement. And at the forefront of this shift is Solix for Banking—a trusted solution helping financial institutions meet compliance needs while unlocking data value.
Why Legacy Systems Are Holding Banks Back
Many banks still run critical workloads on legacy platforms like Oracle PeopleSoft, mainframes, and on-prem ERP systems. These systems:
- Are expensive to maintain
- Struggle to meet modern compliance demands
- Inhibit AI adoption and cloud migration
By retiring legacy applications and securely archiving their data in the cloud, banks can reduce costs, meet regulatory requirements, and fuel innovation.
The Compliance Imperative
Financial regulators require banks to:
- Retain historical data for 7–10 years
- Enable fast response to audits and legal holds
- Enforce data access controls and deletion policies
Yet maintaining legacy apps just for compliance is inefficient.
📌 Gartner Insight:
“By 2026, banks that implement structured application retirement and cloud archiving will cut compliance risk in half and reduce IT overhead by up to 60%.”
— Gartner, 2024: Financial Services Data Governance Outlook
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Empowering Data-Driven Banks with Solix
Solix for Banking offers a purpose-built platform that allows financial institutions to:
Retire Legacy Systems
Archive complete application data—structured and unstructured—and decommission legacy systems like PeopleSoft, SAP, or JD Edwards.
Ensure Compliance
Meet GDPR, SOX, and FINRA requirements through policy-based retention, legal hold, data masking, and role-based access controls.
Enable AI & Analytics
Make archived data AI-ready by enriching it with metadata, cataloging, and search capabilities—fueling intelligent decision-making.
Optimize Storage Costs
Use smart tiering, deduplication, and cloud-native storage strategies to dramatically reduce infrastructure costs.
Real-World Use Case: PeopleSoft Archiving Solution
A global bank using Oracle PeopleSoft for HR and finance wanted to retire the system but retain access to its data for audits and analytics.With Solix for Banking, they:
- Archived 12 years of PeopleSoft data
- Applied GDPR-compliant data masking and retention rules
- Made historical data searchable via a self-service portal
- Reduced infrastructure costs by 58%
- Enabled HR analytics on archived data using AI models
This illustrates how PeopleSoft archiving solutions can drive compliance, cost savings, and innovation simultaneously.
TechCrunch Insight
“Compliance is no longer just about checkboxes. Modern financial institutions are rethinking their data architecture—from application retirement to AI-driven analytics—and platforms like Solix are leading this transformation.”
— TechCrunch, 2024: Cloud and Compliance in Fintech
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Solix for Banking: Smart, Secure, Scalable
Solix ECS isn’t just an archiving tool—it’s an enterprise data platform designed to:
- Empower data-driven banks with Solix
- Support privacy and governance regulations
- Unify archived data across silos
- Enable rapid data discovery and analytics
- Scale across hybrid and multi-cloud environments
Whether you're managing PeopleSoft archiving, retiring legacy ERP systems, or preparing data pipelines for AI—Solix delivers with precision and compliance.
Final Thoughts
Cloud archiving and application retirement are no longer optional—they're strategic imperatives for banks navigating modern compliance, cost pressure, and digital transformation.With Solix for Banking, financial institutions can:
- Streamline compliance with SOX, GDPR, and FINRA
- Reduce infrastructure and licensing costs
- Prepare legacy data for AI and analytics
- Enable data-driven innovation with confidence
Make the smart move—empower your data-driven bank with Solix.
