Everyone loves to talk about cloud computing adoption in financial services because it seems like such a ripe market for the technology – however regulations and privacy concerns will get in the way for a long time until the cost efficiency gains can no longer be ignored by CIOs. Even still, its all about private clouds:
“It’s too early to say there’s significant investment in cloud,” said Kevin McPartland, senior analyst at the Tabb Group. However, he said financial firms have crossed the hump on awareness, and most are experimenting, planning or otherwise exploring cloud computing within their walls.
“There are definitely pockets of testing and proof-of-concept [projects] going on,” he said.