Compare between Cloud and On-premise Computing regarding their initial cost
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Cloud computing, in its simplest form, is the process of using remote servers over the internet to host resources like emails, networking, storage, data and software. Managing, processing and encryption of data is left in the control of a third-party operator and offers the ability to operate real-time data reporting and analytics.
On-premises, by definition, is using your own physical infrastructure to run servers, emails, network and storage facilities on your own premises. This has its advantages and disadvantages, like any other system, but in the Fintech industry it’s slowly fading in significance as more security issues and data-encryption problems are being solved by ever-evolving Fintech cloud services.
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