Financial sector adopting poor ‘cloud practice’
June 19, 2014
Grazed from HedgeWeek. Author: Editorial Staff.
NCC Group surveyed chief investment officers from financial services companies with over 1,000 employees, and found that less than half of those surveyed carry out third party audits of prospective cloud providers prior to engagement, and over 60 per cent do not have any contractual protection in place if their cloud provider fails.
Cloud adoption in the sector is gaining momentum, with a massive 80 per cent of respondents planning to adopt further cloud services in the next 12 months. Daniel Liptrott, managing director of NCC Group’s escrow division, says: “Financial services firms are increasingly turning to the cloud due to the benefits of cost and flexibility, but many are not taking the proper precautions…
Read more from the source @ http://www.hedgeweek.com/2014/06/19/205122/financial-sector-adopting-poor-%E2%80%98cloud-practice%E2%80%99