Into the clouds (cloud computing and why the financial services sector has largely ignored it)

Citation

Bannister, D. (2011), "Into the clouds (cloud computing and why the financial services sector has largely ignored it)", Development and Learning in Organizations, Vol. 25 No. 2. https://doi.org/10.1108/dlo.2011.08125bad.002

Into the clouds (cloud computing and why the financial services sector has largely ignored it)

Article Type: Abstracts From: Development and Learning in Organizations, Volume 25, Issue 2

Bannister D.Banking Technology, October 2010, Start page: 27, No. of pages: 5

Presents a special report on cloud computing and the reasons why the financial services sector has largely ignored this major IT development. Discusses the success with which many UK businesses are implementing cloud computing, a recent survey indicating that 17 percent of companies had already implemented cloud computing, 39 percent were actively implementing a cloud computing model, and 32 percent are planning to implement cloud computing in the next six to 12 months. Argues that security issues are still a major concern but that it is being addressed by a range of initiatives and banks are already very skilled at handling security matters. Notes the activities of the Cloud Industry Forum (CIF), the results of research recently commissioned by the CIF, and the CIF’s Code of Practice for Cloud Service Providers. Concludes that there remains a substantial amount of hype about the development and usage of cloud computing, together with a lot of definitional misuse and lack of clarity about the rationale for, and value of, this approach.Article type: ViewpointISSN: 0266-0865Reference: 39BB425

Keywords: Cloud computing, Communications technology, Computer crime, Computer networks, Data security, Financial institutions, Financial services, Internet, Parallel machines, Security products, Server computing, Software as a service, United Kingdom