[ISN] Financial sector cloud adoption on the rise despite security concerns

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. […]