17 April 2013 21:00:00 AEST 1 MIN READ

Why banks should be adopting the cloud

 

In an earlier post I commented on the major banks lack of investment in email security techniques such as SPF records. Scott Mitchell from Fax Solutions explains why they should also be adopting cloud-based applications.

In today’s global financial market, banks are reassessing their business and technology operations, and looking for opportunities to cut costs, foster efficiencies and meet ever-changing compliance standards. While historically one of the slowest industries to adopt cloud-based technology solutions, financial institutions are now recognizing cloud applications as a secure, viable option to keep pace with rapidly changing business conditions and regulatory mandates.

The 2013 IDC Financial Insights Market Spotlight, “Cloud-Based Services in the Banking Industry,” identifies a new generation of technologies including cloud, big data, mobile, and social technologies that make up what they call the “third platform” in financial services IT. This third platform—above the existing platforms of the basic mainframe and LAN/Internet—is generating collaborative discussions between IT and business professionals in financial institutions looking for smart ways to upgrade or migrate from legacy environments.

Continue reading over at the Fax Solutions blog >>