- Cloud computing raises both challenges and
opportunities for banks, but will be an inevitable move to
maintain cost and technological efficiency;
- Cloud providers are becoming more willing to
negotiate with financial institutions to meet their specific
needs, though individualisation still has a long way to
- Regulatory guidance is vague, but the largest
regulatory concern will be the ability of regulators to audit
the data. This might require specific agreements with the
Banks and financial institutions are increasingly looking
towardscloud computing as a
cost efficient means by which to store data. But the trend
raises a host of regulatory and compliance issues.
Mergers arising from the financial crisis and increased
scrutiny from financial regulators has forced banks to consider
more ways to consolidate and streamline their...