Financial sector cloud adoption on the rise despite security concerns

[InfoSec News <alerts () infosecnews org>]

http://www.computerweekly.com/news/2240241763/Financial-sector-cloud-adoption-on-the-rise-despite-security-concerns

By Caroline Donnelly
ComputerWeekly.com
05 March 2015

The financial sector is slowly coming round to the idea of entrusting its 
apps and data to the cloud, but security remains a major stumbling block 
for many.

That’s one of the key findings from the Cloud Security Alliance’s (CSA's) 
latest research into how cloud is being used in the financial sector, 
which revealed more firms are using off-premise services but on a largely 
ad-hoc basis.

The CipherCloud-sponsored report was compiled by CSA’s recently formed 
Financial Services Working Group (FSWG) and garnered responses from 102 
participants – including banks, credit unions and insurance companies – 
across 20 countries.

Out of those questioned, 61% of organisations said they’re in the throes 
of hammering out their cloud strategy, with between 39% and 47% looking to 
use a mix of in-house IT, private, public or hybrid off-premise 
environments.

None of the participating organisations said they plan on adopting a 
public cloud-only strategy.

[...]

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