Cloud computing take up in the financial services sector is
by no means a done deal, because business users still do not
understand its relevance, according to the latest research.
Research carried of by think tank the
Financial Services Club,
which questioned 230 financial services professionals, found that
only a quarter believe that the business users are driving the take
up of cloud computing.
This compares to 56% who said IT departments and IT suppliers
are pushing the service.
Chris Skinner, chairman at The Financial Services Club, said
cloud computing offers the potential to deliver significant
benefits in terms of time and money but there are obstacles to
overcome.
"The biggest issue is not with the technology, but with how
suppliers discuss it. First, too many claim their solutions are
cloud-related because anyone who offers any kind of outsourced
service is calling it cloud right now. Second, the business
applications, needs, benefits and fit are not being articulated
well enough and, without such positioning, cloud may just go the
way of other technology hype cycles, as in confusion and
irritation."
Companies involved with investment such as trading exchanges and
investment banks, which are heavy users of technology and tend to
pioneer IT, are the only segment of financial services to be
pushing cloud computing.
Skinner said that the definition of cloud computing is unclear,
the benefits to the business are not being presented well. "The
technology industry needs to make the definition and relevance of
cloud computing far clearer to banks and insurers, if this is to be
a market that takes off."