Cloud Computing Adoption in Financial Services: Motivators and De-Motivators
Financial services organisations have shown a significant interest in the adoption of emerging cloud business technologies. Based on my recent research, I identified the following four key motivators and five key de-motivators of cloud adoption in Financial Services. Motivators: · Data Centre Scalability · Control on Sensitive Data –Private Cloud Initiatives · Data Centre Efficiencies –Public Cloud Initiatives · Future Downsize of Internal Data Centre –Public Cloud Initiatives De-motivators: · Lack of Maturity and Understanding the Cloud · Cloud Additional Risks · Customer Information Regulatory Compliance · Local Banking and Financial Institutions Act Hurdles · Comingling of Data and Applications in a Multi-tenant Environment These identified key motivators and de-motivators support or hinder the adoption of cloud in financial services. As opposed to a big bang, financial services organisa
