The report also found that financial services organizations ranked security, privacy, and compliance issues as the most concerning when running applications within public cloud solutions (62%). Respondents were less concerned with public cloud capacity (30%), showing that while public cloud has the capabilities to support IT infrastructures, the security of sensitive data is non-negotiable, and organizations are looking for alternative solutions.
The industry’s confidence in the private cloud seems to be increasing, with nearly 50% of financial sector respondents say they’ve either fully deployed hyperconverged infrastructure (HCI) or are in the process of doing so. Another 38% report they’ll deploy HCI within the next 12-24 months.