Pay360: Pismo's Blueprint for Seamless Cloud Migration
In an exclusive interview with FinTech Magazine, Vishal Dalal, CEO of Pismo, shared insights on how financial institutions can overcome cloud migration challenges while reaping substantial benefits for their payment infrastructure.
Overcoming Cloud Hesitation
Despite widespread recognition of cloud benefits, many financial institutions remain hesitant to make the transition. According to Dalal, client concerns typically fall into two categories.
“Most clients are concerned about the cloud itself, mistakenly assuming they lose control when moving core data to the cloud,” explains Vishal.
“They worry they won't be able to touch and feel it the way they think they can in today's data centres. The second category of concern is the journey to get there—orchestrating a large transformation after growing up on legacy technologies is not easy.”
These perceptions present significant barriers for institutions looking to modernise their infrastructure while maintaining operational stability. This is where specialised migration strategies become crucial.
“The first pain most banks used to have is working with two systems, which was expensive. We've taken that away so you just pay for what you use”
Streamlining the Migration Process
Pismo has developed several approaches to address the pain points financial institutions face during cloud migrations.
“The first pain most banks used to have is working with two systems, which was expensive. We've taken that away so you just pay for what you use,” says Vishal.
“We've also developed automated scripts that ensure what you're migrating is exactly what you wanted to migrate. If you wanted to migrate 800,000 accounts, it confirms that all 800,000 accounts are there—you don't have to count them.”
This modular approach extends to migration scale as well, allowing for more manageable transitions.
“We've developed small capsules so that institutions don't have to migrate 10 million accounts at once. They can do it 100,000 accounts at a time,” Vishal adds.
Future-Proofing Financial Infrastructure
Looking ahead, financial institutions face mounting challenges that cloud infrastructure is uniquely positioned to address.
“Banks are going to find it increasingly harder to keep spending on security infrastructure. That's not what they were meant to do—banks were meant to create nice new products to serve customer needs,” Vishal notes.
“The ability of a cloud provider to invest in security is very different. Their expertise and capacity to spend is unmatched. A single bank will find it very hard to match what an AWS or GCP will spend on these things.”
The rise of artificial intelligence presents another compelling case for cloud adoption.
“Banks will increasingly look to AI agents to handle work they currently do manually. That's very hard to accomplish if you're building your own infrastructure from the ground up,” explains Vishal.
“Developing agents requires vast amounts of data and compute power, usually beyond the reach of most banks. Without proper cloud infrastructure, they won't be able to automate effectively.
“They don't want to manually run end-of-day batches or generate statements—they need agents to do this, and it becomes progressively harder as more data accumulates.”
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