Formerly resistant, big banks adopting the public cloud
Deutsche Bank researchers say large banks are beginning to adopt public cloud services more frequently, and adoption could grow significantly in 2017, according to a report from the Wall Street Journal.
The researchers say perceived security and regulatory risks have in the past prevented a lot of large banks from moving to the cloud.
Deutsche Bank researchers said some bank IT executives told them they could potentially increase their use of the infrastructure-as-a-service model by 30% by 2019.
Researchers found that banks are growing more interested in cloud now because of its mainstream adoption. Vendors have also made cloud services more secure and improved compliance services.
The report comes at a time of heightened cybersecurity concerns at financial institutions worldwide. In February, hackers stole $81 million from a Bangladesh central bank. As more information about the case comes to light, banks are looking at their standards and protocols in how they use technology, hoping to avoid another cyber heist.
- The Wall Street Journal Big Banks Starting to Embrace Public Cloud, Deutsche Bank Says