The talk about cloud computing in financial services doesn’t slow down despite a very slow pace of growth. Regardless, this article gives a good summary of my views on the subject:
“The cloud is certainly on everyone’s radar, but there are a lot of issues still to be resolved on the process and regulatory side,” said Kevin McPartland, senior analyst at Tabb Group, a Westborough, Mass.-based research and advisory firm focused on capital markets.
“Banks are not using commercial external clouds like Amazon and Google. If they use external clouds, it will be many years away. But quite a few are looking into internal clouds for IT systems, testing and less mission-critical apps. The cost savings that can be had are so big, it’s impossible for CIOs to ignore the opportunity,” McPartland said.