I have been working on a feature today and going through my interviews have found some interesting stuff.
This one comes from an unnamed source within banking IT. This is what he said when asked about the cloud’s role in banking.
“None at all hopefully. The cloud is a giant security and reliability disaster waiting to happen. Banks should keep their systems safely locked away in their own data centres and do all they can to protect the infrastructure and physical security. I hope the cloud is only used for holiday snaps and music. Banks should not go there. We have to remember there are bad guys out there trying to crack into these systems millions of times a day around the world. And they only have to get it right once to cause a major disaster! I would not bank with a firm using the cloud to operate my account or hold my details.”
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So that’s pretty clear then.
I recently wrote this article after an event about the cloud in banking: Is cloud computing almost too good to be true for banks?.