Financial Firms in Search of a Cloud Strategy

Grazed from eWeek. Author: Nathan Eddy.

Cloud computing is becoming more and more prevalent in the financial sector, though many respondents of a recent survey claimed to have less than 50 percent of a solidified, concerted cloud strategy, with controls and security being main concerns. According to the worldwide survey of more than 100 professionals conducted by the Cloud Security Alliance (CSA) and sponsored by CipherCloud, 61 percent of respondents believe a cloud strategy is in the formative stages within their organization, with 39 to 47 percent planning to use a mix of in-house IT, private and public clouds, and 18 percent planning to use private clouds.

None of the respondents has plans to be hosted mostly in a public cloud, according to the report. "Primarily the top security concerns were more focused around data protection," Luciano Santos, vice president of research and member services at the Cloud Security Alliance, told eWEEK. "Data confidentiality, data governance and data breach were the top-ranked security concerns identified by the financial institutions that participated."…

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