A Finextra member 21 January, 2011, 03:24 0 likes

As a provider of cloud based banking in Australia we have also done a presentation on this that you can access/download through the 'my Favourite sites' link.  We think the economic and business velocity arguments for cloud are compelling and we are more than happy to provide general info or insights for those attempting to get these services running in other countries.

Most of the issues around data security, SLAs etc that are quoted as impediments are often as much an advantage of cloud systems - often the disaster recovery, security models, documentation levels and monitoring/reporting are in excess of what banks may have internally and thus provide positive impetus to change rather than serving as a barrier.

For every security provider releasing surveys that 30-40% of banks won't use cloud there is a vendor building systems for the other 60-70%....

Cheers,

Brent