Is the Cloud Secure Enough for the Financial Industry?

Grazed from SmartDataCollective. Author: Kyle Cebull.

Investors, bankers and financial planners have a responsibility to their clients to secure their personal and business financial information. It’s not just about good business practices; it’s the law. When your company reputation and livelihood is on the line, it’s important to have a full understanding of how any decision you make regarding the data of your customers and clients can affect security.

For the most part, financial services companies have been hesitant to adopt cloud technologies, labeling it as not secure enough. Many principals find themselves asking the question, “Is the cloud secure enough for the financial industry?” There are a few factors at play in the discussion of cloud security for the financial industry…

Yes. Just ask Microsoft.

While the ultimate decision should be weighed after an assessment from IT consultants with experience in the financial industry, Microsoft’s resources are a great place to start. In particular, they have created a Cloud Security Readiness Tool (CSRT). According to Microsoft’s website, the tool was created to help organizations understand their current IT infrastructure, identify relevant industry regulations, and evaluate whether cloud adoption will meet business needs. To access the tool, click here…

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