The Financial Services Industry and the Cloud
In the financial services industry, the cloud hasn’t quite become the cure-all IT solution that it has for other industries, but it’s on its way for sure. Given that the financial services industry deals with highly sensitive, valuable data, and many people have the misconception that the cloud (public cloud in particular) is unsecure, the initial hesitation makes sense. IT outsourcing is also lagging a bit behind as far as IT trends in the financial industry go, primarily for similar reasons to cloud reluctances.
Disinclinations aside, the industry is definitely beginning to see the value in the cloud, and some financial organizations have already made the move, while others are beginning the process. It’s a great time to do so, given the dominance of digitalization. In addition, SaaS usage and IaaS in financial services are on the rise, which means that cloud use cases are multiplying.
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