Financial Companies: Cloud Innovators?
February 28, 2020
An online information service called Channel Life published results of a survey related to financial services (mostly in Australia) and the hybrid cloud. The phrase “hybrid cloud” means combining AWS or Azure like services with an organization’s own private cloud. The buzzword is a typical meta notion; that is, as features fragment, another method comes along to roll up these diverse approaches into a single umbrella service. Word and Excel became Microsoft Office which morphed into a subscription umbrella service. Now the same approach is finding favor in financial services.
The write up “Financial Organizations Leading the Way for Hybrid Cloud, Nutanix Finds” presents the results of a research “study.” Here are a handful of factoids DarkCyber finds interesting:
60% of respondents state security is the single biggest influence on future cloud strategies. If accurate, regulations drive adoption of technology, not a customer centric focus.
39% of financial services companies reporting public cloud services were completely meeting their expectations. If verifiable, commercial cloud services may be failing to meet some customers’ needs, a situation not evident from the marketing collateral from major cloud vendors.
18% of financial companies have deployed hybrid cloud, while 51% plan to shift investment to hybrid cloud in just three to five years. If verifiable, there’s money to be made in meta software.
DarkCyber spotted minimal information about the sample selection process, sample size, and statistical procedures used. Nevertheless, one message is that bright sprouts may be able to make money providing an integration layer for multiple cloud systems. Is the era of the branded cloud ending? No, but the cloud business may be ripe for evolution…. if the data in the report are generally correct.
Stephen E Arnold, February 28, 2020
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