Elastic Cloud provides financial institutions with a comprehensive solution for managing data retention, regulatory compliance, and cost containment amid increasing data volumes. It supports compliance with regulations like GDPR and PCI DSS by offering advanced data tiering and searchable snapshots, which categorize data based on access frequency and cost, thus optimizing storage costs. Elasticsearch logsdb index mode further reduces storage expenses by up to 65%, allowing financial institutions to keep essential log data accessible and manageable without incurring excessive costs. Elastic's tiered storage approach includes hot, cold, and frozen tiers, where the hot tier is for frequently accessed data, and the frozen tier uses low-cost object storage for long-term retention. Elastic's searchable snapshots enable efficient searches directly from object storage, eliminating the need for data rehydration and thereby reducing costs and enhancing performance. This scalable and cost-effective strategy is particularly valuable for financial services companies seeking to maintain compliance, operational efficiency, and customer trust while managing large data volumes.