After a period of avoiding the Cloud with security concerns, the financial-services industry is coming around.
It is following suit of other industries going for improved operations and higher agility with more resources to be gained in the big picture.
A report on the state of security revealed that one-fourth of all data breaches take organizations weeks or months to contain, whereas Cloud providers have whole teams and many tools for security monitoring, so may even provide more safety for the client’s sensitive financial information, writes Tom Groenfeldt for Forbes magazine.
Cloud infrastructures often include certification and regular audits, as well. Businesses that use internal servers to store info actually offer a comparatively easier target.
If the public Cloud does not suit, some providers offer private clouds that will serve inside the firewall of the provider. The sophistication may not be as high as the very large public Cloud options, but the trade-offs are available depending on each business’ priorities.
Regulators in Asia and Denmark are among those who have been promoting Cloud solutions for the financial-services industry, in addition to U.S. companies slowly getting onboard. Regardless of which option they choose, financial-services companies must encrypt all their sensitive data all the time.
To read more about this subject, click here.