Does the cloud make sense for banks?

Because of the unique security concerns within banking, some financial institutions have hesitated to turn to the public cloud for their most critical services. But ancillary cloud solutions, such as contact management, marketing automation, office automation, and human resources, among others, might be a logical solution for many organizations.

Much of the recent discussion about cloud computing in banking has centered on managing the risks associated with cloud computing service providers. In general, cloud vendors should be treated to the same due diligence and monitoring as any other vendor. There are, however, a few things that should be considered prior to signing a contract with any cloud computing service provider.

Published: January, 2013