Need for security drives cloud adoption, says survey

The share of cloud spend in financial firms’ IT budgets is set to rise to 47% by next year – up from 30% now

privacy
Security fears: data privacy, residency and control are top concerns for financial firms when using public clouds

Ownership and control over data are two of the top-three concerns for financial firms when using public cloud infrastructures, in a marked turnaround from previous years when questions about security outstripped other considerations, according to a survey of senior technologists and data managers.

The global poll, conducted by the Financial & Risk business of Thomson Reuters, shows that as financial firms are increasing their investment in the cloud to manage data, 82% of those surveyed believe

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