An enterprise in the financial sector is planning to transition its customer-facing applications onto a cloud platform. Regulations in their industry require that all sensitive customer information be encrypted when stored. What approach should the architect recommend to ensure this enterprise's storage solution meets these encryption requirements?
Implement server-side encryption on object storage utilizing a managed key service.
Adopt client-side encryption practices before transferring data to the chosen cloud-based object storage.
Implement Secure Shell (SSH) for file transfers to the object storage to enable encryption for stored data.
Introduce multi-factor authentication for data access operations within the object storage service.