Cloud Computing: Challenge For Financial Firms?
Grazed from Forbes. Author: Emma Byrne.
Cloud computing is not as disruptive as many organizations feared. Using a cloud provider has come as naturally to most organizations as using webmail. But for the financial sector, international laws make life—shall we say—challenging. Here’s why.
Behind the scenes, there are heavyweight struggles taking place that center around the “sovereignty” of data. If data are stored across international borders, how can your customers be sure that their sensitive personal information is safe? More importantly—at least from the lawyers’ perspective—who can be sued if it isn’t safe? For organizations in the financial sector, the picture can be murky…

