Capital One Cloud Computing Journey
Capitol One’s migration from data center usages to public cloud computing contains a lot of benefits and competitive advantage. One of the most noted upgrades to cloud computing is their infinite scaling procedure. Users pay only what they use and have any as much storage and computing space as needed. Their teams have experienced drastic improvement in their system availability and accessibility, “cutting both the number of transaction errors and critical incident resolution time in half” (Perkel, A., 2021). Lastly, they are keeping up with the modern architecture, such as open source, DevOps, microservices, and RESTful APIs. Because of these benefits, the cloud helped Capital One by enabling digital banking, which made it more relevant and competitive against opposing companies.
An article from 2020 states that a former engineer from Amazon Web Services hacked and “broke into Capital One’s servers in Amazon’s cloud through misconfigured web application firewall” (Crosman, P., 2020). Due to this situation, this website offered a few steps to strengthen any bank’s data defenses. One of the advices is to monitor and maintain the security updates on any open-source software. The hacker took advantage of the misconfiguration and enabled them to data and resources. Another advice is to restrict data access even to former employees. Since the hacker was a former employee of AWS, it is important to lessen the privileges to a few selected employees. Lastly, they point out that in order to strengthen authentication, they must have an active plan and management that identifies multiple factors in the company such as identity of devices, applications, and data stores.
References
Crosman, P. (2020, August 7). Capital One fine is latest wake-up call for banks using the cloud. American Banker. https://www.americanbanker.com/news/capital-one-fine-is-latest-wake-up-call-for-banks-using-the-cloud
Perkel, A. (2021, June 2). Doing The Hard Things First - Lessons From Our Cloud Journey. Capital One. https://www.capitalone.com/tech/cloud/doing-the-hard-things-first/
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