Most financial services providers are now implementing cloud strategies, but concerns linger over security.
The Cloud Security Alliance survey, "How Cloud Is Being Used in the Financial Sector," found the financial industry still in the embryonic stage of cloud adoption.
According to the findings, 61% of respondents acknowledged that a cloud strategy was in the formative stages within their organization. Thirty-nine percent to 47% said they planned to use a mix of in-house IT, private and public clouds, while 18% said they planned to use private clouds. Top reasons respondents said they adopted the technology were infrastructure flexibility, reduced total cost of ownership and shortened time to market.
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
